An estate plan, even a simple one, is necessary to plan for after your death and protect your family. A plan created with the help of an experience estate planning attorney will greatly reduce the stress on your family after you are gone. An estate plan consists of at a minimum- a will, Durable Power of Attorney, and Advanced Health Care Directive.
Your will can range from very simple to complex. When appropriate, the will can include a trust to plan for management of the assets after your death. It names an executor and a guardian to care for any minor children.
A Durable Power of Attorney is to be used by your named Agent when you are unable to manage your affairs, whether by temporary incapacity or permanent. Having a valid POA in place will avoid any unnecessary guardianship proceedings should you become incapacitated.
An Advanced Health Care Directive includes a Health Care Power of Attorney and living will. A Health Care Power of Attorney names an Agent to make medical and health care related decisions for you when you are unable to make them for yourself. A living will is the document which details your wishes for end of life care and treatment.
A properly formulated estate plan can prevent costly Orphan’s Court litigation for your heirs and can also minimize potential inheritance taxes. Our firm can assist you in preparing the proper estate plan to protect your wealth and ensure that it can be enjoyed for generations to come.