Estate Planning and Elder Law attorneys often advise clients to restructure assets – often putting them in trust.  Whether the goal is to avoid probate, reduce future transfer taxation, or minimize countable resources, transferring assets means changing legal ownership, and any change in ownership could have tax consequences that the planner cannot ignore.  Some transfers might have no tax impact at all, others might have an impact that is insignificant, and others might have substantial tax consequences, which become a larger problem if they are a surprise to the client. Recommending and implementing trust planning without considering all potential tax consequences is a recipe for disaster.

The Pennsylvania Association of Elder Law Attorneys (PAELA) is a non-profit association which assists lawyers, bar organizations, and others who work with older clients and their families. PAELA provides a resource of information, education, networking, and assistance to those who work with the many specialized issues confronting the elderly and the disabled.