On-Demand Video
CC

Pros & Cons of Revocable Trusts (2025 Estate & Elder Law Symposium session)

  • City:
  • Start Date:2025-02-20 05:00:00
  • End Date:
  • Length:
  • Level:Intermediate
  • Topics:Trusts & Estates

$79.00 ProPass

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This program is eligible for 1 hour of CLE credit in 60-minute states. In 50-minute states, this program is eligible for 1.2 hours of CLE credit. Credit hours are estimated and are subject to each state’s approval and credit rounding rules.

Overview

Pros & Cons of Revocable Trusts
Jay Hagerman

This session will cover the essential considerations to discuss with clients when advising clients on whether or not to create a revocable trust. We will discuss the benefits of revocable trusts including privacy, flexibility, probate avoidance, handling of foreign assets, and a more robust rulebook in the event of the Settlor’s disability. We will also discuss the potential weakness of revocable trusts including nonexistent asset protection, risky realty transfer tax consequences, and the similar formalities of estate administration in Pennsylvania.


Recorded in February 2025.

Faculty

Jay R. Hagerman, Esq.

Jay R. Hagerman is a partner at Abernethy, Hagerman & Miller, P.C. where his law practice encompasses estate planning, estate and trust administration, Orphans’ Court Litigation, elder law, real estate transfers, business succession planning, and tax law. Born and raised in Hampton Township in the North Hills of Allegheny County, Jay obtained his undergraduate degree from Gettysburg College, and during his college years, he had the privilege of working in the White House Office of Correspondence in Washington, D.C. He went on to attend Duquesne University School of Law, focusing his studies on laws relating to wealth creation and preservation. He currently resides in Hampton Township with his wife and family, which allows him to serve clients throughout Western Pennsylvania. Jay is the frequent lecturer for the PBA and PBI and is the current Chairman of the Real Property, Probate, and Trust Section of the Pennsylvania Bar Association.

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