Estate Planning Doesn’t Have To Be Complicated
Estate planning is one of the things Americans put off most frequently. You can, however, create an estate plan with the help of one of our experienced lawyers, and it will likely not be as difficult as you think. We know what questions to ask you and what documents you need to gather. We will be here to walk through each step with you and answer all of your questions related to wills and trusts.
Over the years, Kelly, Parker & Cohen, LLP, has helped hundreds of people in Pennsylvania with estate plans for large and small estates. Just talk to us at your free consultation, and we will answer your questions and address any concerns you have about creating a will and/or trust.
Why Do I Need A Will?
Wills allow you to specify how you want to handle issues such as guardianship of your children, your final wishes and the distribution of all or some of your assets. By also drafting powers of attorney and health care directives, you can document what you want for end-of-life care and who will take control of your finances if you are incapacitated.
While you can use a will to pass on assets, family heirlooms and even your home, it may not be right for every situation because a will needs to go through the probate process, which can be lengthy and expensive. In general, a will is the right way to pass down less expensive items such as smaller family heirlooms and personal property. If you have more expensive, sophisticated assets, such as a house, a business or investments, you are likely better off using a trust in addition to a will.
How Can A Trust Help?
One benefit of a trust is that it allows you to transfer ownership of assets outside the probate process, saving time, money and hassle. If you created a living revocable trust, for example, you would put the assets in the trust now and retain management of them until you become incapacitated or die. Then, the person you named as the trustee would take over the trust and distribute or manage the assets, depending on the circumstances.
There are numerous types of trusts available to you, including revocable and irrecoverable trusts, special needs trusts, charitable trusts, marital trusts, asset protection trusts, insurance trusts, credit shelter trusts and many more. Please speak with us to learn whether a trust is right for you and your family.
We Are Ready To Discuss Your Will And Trust Options
We will talk with you about your assets, estate planning goals and family to help you understand whether a will, a trust or both are appropriate for you. Please call us today in Harrisburg at 717-971-1974 or complete our online form. Your consultation is free.