Northeast Philadelphia Estate Planning Lawyer
What Is an Estate Plan?
An estate plan consists of a variety of documents which prepare you, your family, and your estate for the uncertainties of the future. Some of the items which can be included in your estate plan are:
- A Last Will and Testament
- A Power-of-Attorney
- A Healthcare Power-of-Attorney
- A Living Will/Healthcare Directives
- A Trust or Trusts
Estate Planning Lawyer Northeast Philadelphia
The Benefit an Estate Plan for Your Family
In the event of your passing, an Estate Plan protects your loved ones from hardship and ensures their inheritance rights as you prescribe. You can help secure your family’s financial future by determining who will inherit your property, and what they will inherit. If you establish a trust, for further peace of mind, you can even determine how the money will be used, such as only for college. You can appoint a guardian for minor children in a will, so that you are prepared for the care of your children, should anything happen to you. Additionally, an estate plan can help your loved ones avoid a long, difficult, and costly probate through the courts.
The Benefit of an Estate Plan for You
An Estate Plan may also be beneficial to you in a number of ways while you are living. Should you become incapacitated and unable to communicate or understand your financial or healthcare needs, you will need a guardian. By creating a financial and/or healthcare power of attorney, you can appoint in advance someone whom you trust to make decisions on your behalf should you no longer be able to do so for yourself. Additionally, a living will outlines the type of medical care you desire should you become incapacitated. Although these may be difficult topics to address, making your decisions now can help your family avoid dealing with them later. So don’t delay, Contact The Law Offices of Greg Prosmushkin, P.C. for a free consultation to discuss your needs.
This content was written on behalf of Greg Prosmushkin.