When planning for your future and the future of your loved ones, it’s easy to get overwhelmed with all the legal details. But you should have a legal professional on your side to help you navigate life’s uncertainties. Hiring a Pennsylvania estate planning attorney is one way to protect yourself and your family against potential problems in the future.
The following are some of the reasons why you should hire a professional an estate planning attorney:
When choosing an estate planning attorney, it is important to find one with experience in solving legal issues that arise during your estate plan. An experienced attorney will be able to advise you on the best way to protect your assets from creditors and other parties.
After you have decided on your goals for creating an estate plan, it is time for the lawyer to draft a legal document that will support those goals. An attorney can help you determine if any changes are needed for your wishes to be carried out after you die.
Estate tax planning
An estate tax bill can be expensive if not prepared properly or if too much money is left out by mistake. The attorney will help identify sources of funding that may be used when calculating taxes owed by heirs after death occurs.
Wills, trusts and other documents
In some cases, certain documents need to be updated or replaced due to changes in family dynamics or because they were never drafted correctly.
You want to make sure that your affairs are handled properly
If you have assets, you want to leave them behind in a way that meets your wishes, but not necessarily in a way that will benefit others. For example, you might have children who need inheritance money and don’t know it or an elderly parent who has no idea how much money they need or about the value of their home.
You want to ensure you can pass your assets onto your heirs without legal problems or disagreements. In other words, you want to ensure that if something happens to one of them, a car accident, for example, there is no confusion as to what happened with the car and who should receive what from it.
Help draft a will
A will can help ensure that your assets are distributed according to your wishes and can protect loved ones from being left out of the distribution. It is also helpful if you have minor children who are not yet old enough to sign a legal document or are unable to make decisions on their own.
A good estate planning attorney will help you understand your options and guide you through the process of creating a plan that works for your situation. These plans will also allow you to ensure that any assets are distributed according to state or federal law, which can be very helpful if you deal with a beneficiary with special needs or circumstances.
Protecting yourself, your family, and your business from legal challenges is a smart goal. Avoiding the pitfalls that complicate such challenges requires professional assistance. You should review your estate plan periodically to ensure it continues to meet your needs. When you are ready for help with estate planning, get it from an experienced estate planning attorney.