Estate Planning & Elder Law Attorneys Serving Fox Chapel and Oakmont

How can Fox Chapel and Oakmont families use trusts to pass wealth to children and grandchildren?

Families with significant assets often go beyond a basic estate plan. Revocable and irrevocable trusts and dynasty-style trusts make up a core strategy for setting conditions on estate planning distributions, tax reduction for future generations, protecting assets from creditors and divorce, and keeping wealth in the family across generations. They can also help manage how and when younger heirs receive an inheritance. A Fox Chapel or Oakmont estate planning attorney can design a trust structure around your family’s goals, your assets, and the tax picture.

Do wealthy Pennsylvania families owe inheritance tax?

Pennsylvania does charge an inheritance tax, and the rate depends on the heir’s relationship to the decedent. Property owned jointly between spouses is exempt. At the federal level, the 2026 estate tax exemption is $15,000,000 per individual, so the biggest estates may still be affected. Lifetime gifting is a common strategy, and the federal annual gift exclusion is $19,000 per recipient in 2026. Gifts do not always escape Pennsylvania inheritance tax, because a one-year lookback rule still applies. A Pittsburgh estate tax attorney can help you coordinate gifting, trusts, and beneficiary designations to reduce the overall tax burden.

How do we protect the family home and a family business for the next generation?

Historic homes and closely held businesses are often the hardest assets to pass on. Without a plan, heirs may be forced to sell, or disagreements may arise over who keeps the property or runs the company. Options include placing real estate in a trust, creating a succession plan for the business, using buy-sell agreements, and planning for liquidity so heirs can pay taxes without selling key assets. Elder law planning also matters for aging parents, since long-term care costs can threaten even large estates. A Fox Chapel or Oakmont attorney can bring these pieces together into one coordinated plan.