1. © 2014 McNees Wallace & Nurick LLC www.mwn.com
ESTATE PLANNING – USE OF TRUST AND
COMMON MISTAKES TO AVOID
MAY 13, 2014 Vance E. Antonacci, Esquire
McNees Wallace & Nurick LLC
570 Lausch Lane, Suite 200
Lancaster, PA 17601
717.581.3701
vantonacci@mwn.com

2. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Estate Planning
 Estate Planning
 Pieces to the Puzzle
o Financial Power of Attorney
o Health Care Power of Attorney (Living Will)
o Last Will and Testament
o Trust Agreements
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3. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Estate Planning
 Estate Planning
 Last Will and Testament disposes of individually
owned assets not subject to a beneficiary
designation
 Power of Attorney appoints agent for financial
matters
 Living Will appoints agent for health care decisions
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4. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Estate Planning
 Types of Trust
o Revocable ("Living" Trusts)
o Irrevocable
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5. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Estate Planning
 Revocable Trusts
 Lifetime funding
 Can be revoked or amended at any time
 No creditor protection
 No death tax avoidance
 Avoiding "probate"
 Privacy
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6. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Estate Planning
 Revocable Trusts - Uses
 Planning to avoid federal estate tax
 Real estate located in another state
 Substitute for power of attorney
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7. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Estate Planning
 Irrevocable Trusts
 Lifetime funding or funded at death
 Typically designed to provide creditor protection
and to avoid death taxes
 Life insurance planning
 Medical assistance planning
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8. © 2014 McNees Wallace & Nurick LLC www.mwn.com
Questions?
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Vance E. Antonacci
570 Lausch Lane, Suite 200
Lancaster, PA 17601
717-581-3701
vantonacci@mwn.com