Planning for the Future of Your Estate
When you are planning for the future of your family and loved ones, there
are several different options you can choose from in your estate plan.
I have been
helping clients create meaningful estate plans for more than 34 years. I value my clients' input and their preferences, allowing them to
voice their goals and objectives for the future. Each individual has a
different asset base and family circumstances and will need to create
a plan for their unique needs.
As an attorney with a vast amount of experience in
estate planning and
probate law, I understand how each element of your plan will affect future recipients.
Upon your passing, your family will be left with the responsibility of
distributing your assets. They may deal with it directly or be required
to appear in court for probate purposes, depending on how you set up your
estate. If you are interested in receiving legal support for your estate
plan, contact my law office today. I will work with you to design a plan
that fits your needs and helps you pursue your goals.
Wills: The Foundation of an Estate Plan
If you decide to include a last will and testament in your estate plan,
it is important to understand that wills are the foundation of many estate
plans. A will is used to provide instruction for the distribution of a
person's property after they have passed away. You can also use a
will to name an executor and designate a custodian and
guardian for minor children. If you want to leave instructions on how to pay for
debts and taxes, you can include that in your will, as well. When a living
trust is created, it is necessary to have a will as a backup-this type
of will is called a pour-over will.
What are the benefits of having a will?
- You can select your heirs
- You decide who gets what and when
- You can nominate a guardian for minor children
- You nominate an executor to settle your estate when you pass
- You can make charitable donations
- You can bequeath assets to close friends and/or distant relatives
- You give someone legal authority to make decisions for you in the event
A will can sometimes be helpful for individuals with fewer investments,
who just want to have a simple document explaining how their property
should be handled and distributed. If you have more assets, your loved
ones will have to go through probate courts to receive any property. In
this case, I would suggest my clients consider a living trust, which protects
from probate court proceedings.
Living trusts or wills can never be created too soon, which is why it's
important to discuss your situation with a lawyer. If you would like more
information on how I might be able to help, contact
D'Onofrio Law Office, P.C. today. I always offer my clients a
complimentary initial consultation.
Contact my law office today
to discuss your future plans with a
free case evaluation!
Moon Township, Allegheny County, Beaver County, Washington County, Butler County, Westmoreland
County and all of Western Pennsylvania.
Contact my law office today
get peace of mind.