Proper estate planning protects your interests and ensures your wishes are carried out after your death. Regardless of your age or the value of your assets, seeking estate planning services in West Chester, PA can give you peace of mind and ease your loved ones’ emotional and financial burdens at a difficult time.
Estate Planning is More than Just a Will
In addition to drafting a last will and testament, lawyers who specialize in wills can help you create a comprehensive estate plan that is tailored to meet your specific needs and goals. Not only does an estate plan ensure that your assets are transferred to your heirs upon your death, documents such as powers of attorney allow you to name agents to handle medical decisions and financial issues should you become unable to do so yourself.
What Does an Estate Planning Attorney Do?
There are many different facets of estate planning. An experienced attorney should be well-versed in state and federal laws that can affect how your estate will be valued, distributed, and taxed after your death. Trusts can be an effective way to protect your assets and ensure loved ones are taken care of according to your wishes.
If you own a small business, your estate planning attorney may work in concert with business succession planning lawyers to help you create a plan for what will happen to your business if you become incapacitated or pass away.
Your attorney can assist you with a number of things, including:
- Creating a last will and testament
- Drafting a letter of intent
- Drafting an advance directive (living will)
- Drafting powers of attorney for health care and for finances
- Designating beneficiaries
- Appointing guardians for minor children
- Setting up trusts
Your lawyer will take a comprehensive look at your personal and financial circumstances, discuss your concerns, and advise you of your options. Choosing an executor, agents for power of attorney, and guardians for minor children can be challenging. Your attorney can provide an objective perspective that can help you make practical, informed decisions.
Probate and Estate Litigation
If someone dies without a will, it may be up to the probate court to distribute their assets according to Pennsylvania laws of intestate succession. A probate lawyer can guide the personal representative of an estate through the probate and distribution process. When a will is contested or an estate is sued, it is critical to have an experienced estate litigation attorney in your corner. These types of issues can be complex, costly, and may hold up the estate settlement process for months, if not years.
Having an experienced attorney help you create a solid estate plan can help your loved ones avoid potential problems and make sure all your legal bases are covered.
At Carosella & Associates, our wills and trusts lawyers, business lawyers, and attorneys for real estate law work collaboratively to help clients find creative solutions for all types of legal issues. Our dedicated team provides responsive, personalized service you can trust.