Furthermore, many of these assets held by the state can be recovered if you can prove that you are the rightful owner or heir. Each state has its own procedures for recovering such assets. A list of the lost property and escheat offices for each state is also available from our office. This sounds too good to be true. As you have correctly assumed, when it sounds too good to be true it is too good to be true.
Many people attempt, in Pennsylvania, to use revocable trusts to escape taxation and probate.
However, Pennsylvania has relatively low probate fees and much higher taxes and since these taxes apply to both estates and trusts people are often disappointed to find that their trusts had not performed one of the important functions that they hoped it would. There are, however, circumstances where trusts are still appropriate even without tax planning advantages. In this way, a bank, trust company or trusted friend or family member can be appointed as a trustee to handle all of the investment decisions. If you are considering the use of a revocable trust you might also find that the cost is not worth the savings in fees. Also be sure, that once you have created a revocable trust, that the assets are placed into the trust and that the trust is properly funded so that it will in fact avoid probate in Pennsylvania.