Pennsylvania Wills and Probate
Pennsylvania's probate system can be tedious, time-consuming, and detail-oriented. Sophisticated financial and tax issues are prone to surface in larger-dollar estates, which complicates matters even more. But before you become overly frustrated, there is local help available. Many grieving families decide that hiring a will lawyer to guide them through probate is worthwhile. By partnering with a will and probate attorney, these parties work to avoid making costly mistakes and unwarily tripping into traps during the estate administration process.
Pennsylvania Estate Plan Components
Estate plans are customized to the unique needs of each testator client. Pennsylvania-based probate lawyers draft wills, trusts, and similar testamentary instruments, as core building blocks of estate plans. The following list comprises some customary offerings of wills and probate lawyers:
- Wills with accompanying testamentary trusts
- Simple and complex wills
- Revocable living trusts
- Special needs trusts
- Asset protection trusts
- Irrevocable life insurance trusts
- Martial AB trusts
- Charitable remainder trusts
- Qualified Personal Residence Trusts
When Should I Start Estate Planning?
There are primary rules of thumb in the timing of estate planning that Pennsylvania residents should adhere to, if possible:
- There is no such thing as too late to prepare an estate plan as long as you are living and mentally sound.
- There is no such thing as too early for estate planning, either. Common triggers for beginning the planning process are a marriage, purchase of a home, inheritance, birth or adoption of a child, and ownership of a large asset.
There are several basic goals that Pennsylvania residents should tackle immediately, regardless of their life, family, or financial status, as well:
- Individuals should prepare a will. Intestate succession laws are not favorable; pursuant to them, a portion of the decedent's estate goes to the state instead of to the decedent's family.
- Individuals or couples with minor children should make decisions about guardianship and creating a trust for children. No one wants to leave their child's future at risk.
Contact a Will and Probate Attorney Today
Will and probate lawyers can advise whether a will or trust is legally valid in Pennsylvania. These wills attorneys can help you prepare an estate plan, tailored and crafted to avoid hefty tax burdens, fees, costs, and time delays. It is wise to approach estate planning and administration early. It is equally sage to revisit such planning periodically to ensure it remains relevant. Call now to speak with a Pennsylvania wills and probate lawyer at 877-913-7222.