Revocable Living Trusts in Pennsylvania

Pennsylvania has adopted a version of the Uniform Trust Code, called the Uniform Trust Act (20 Pa.C.S. Chapter 77). Unlike many states, Pennsylvania requires a writing: a trust is created only if the settlor has capacity and signs a writing that indicates an intention to create the trust and contains its provisions, the trust has a definite beneficiary (or is a charitable, animal-care or permitted noncharitable trust), the trustee has duties, and the same person is not the sole trustee and sole beneficiary. Oral trusts are unenforceable in Pennsylvania. The settlor may revoke or amend a trust unless its terms expressly make it irrevocable. Assets retitled to the trustee pass under the trust terms without probate; assets left in the decedent's own name may still require letters from the Register of Wills. Trust assets may still be subject to Pennsylvania inheritance tax.

Non-probate transfers available in Pennsylvania: (1) No transfer-on-death deed for real estate; real estate can pass outside probate by joint tenancy with right of survivorship or tenancy by the entireties. (2) Joint bank accounts belong to the surviving party, and P.O.D. accounts pass to the payee, under the multiple-party accounts law (20 Pa.C.S. Chapter 63). (3) Transfer-on-death registration of securities and security accounts (20 Pa.C.S. Chapter 64). (4) Vehicles titled to joint owners with right of survivorship (including spouses) pass to the survivor on Form MV-39 (PennDOT). (5) Direct payment of limited amounts without letters, such as bank deposits up to $20,000 to family on a funeral bill and up to $10,000 in wages (20 Pa.C.S. § 3101). (6) Petition for settlement of a small estate of $50,000 or less of personal property (20 Pa.C.S. § 3102). (7) Revocable living trust (20 Pa.C.S. Chapter 77).