Whether a single individual or a married couple, young or old, working or retired, simple to complex, we advise you on structuring and managing your assets and affairs to effectively and efficiently achieve your goals following disability and death. We learn your values and beliefs. Without a Will, the Commonwealth of Pennsylvania has its own plan for the transfer of your assets and the appointment of a personal representative to accomplish that transfer. The Commonwealth’s plan may not align with your own values and beliefs, especially if you are concerned about:
(i) minimizing taxes
(ii) avoiding probate
(iii) providing support for dependents like minors or individuals with special needs
(iv) supporting charitable causes
Like you, our clients come from different backgrounds and different financial circumstances and family situations. We listen to you to understand your situation and expectation in the event of your disability or death. With a focus on those expectations, we will take the time to explain and educate you on the options available. You will then be able to make informed choices about how to best achieve your expectations.
To meet your expectations, we will craft an estate plan tailored for your goals and objectives. An effective estate plan often begins with a Will, but it should be more than that. A basic estate plan includes a:
(i) Will
(ii) Financial Powers of Attorney
(iii) Health Care Powers of Attorney
(iv) Living Will Declarations
Some clients, including you, may need more than a basic estate plan. In such circumstances, other estate planning tools may be appropriate. We may draft revocable trusts and irrevocable trusts. To minimize and avoid the Pennsylvania Inheritance Tax and Federal Estate Tax at death, we may advise you on the transfer of assets during life including life insurance and interests in business entities.
Our attorneys’ varied backgrounds and experience enables them to advise you as to any number of options and combinations depending on your final goals and objectives.
Even if you currently have an estate plan, it is prudent to have it reviewed every few years or whenever there is a life event which may include death, divorce, marriage, birth, or move. Laws change and your estate plan may need to be updated because of the changes to the law.
