Philadelphia Estate Planning Lawyer
What is estate planning?
An estate plan consists of a variety of documents to prepare you, your family and your estate for the future. Some of the items that may 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
Estate Planning Lawyer Philadelphia
The Benefit an Estate Plan for Your Family
An Estate Plan protects your loved ones in the event of your passing. You can help secure your family’s financial future by selecting who will inherit your property and how much they will inherit. With a trust, for further peace of mind, you can even determine how the money will be used. 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 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 someone you trust in advance to make decisions 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 decisions now can help your family avoid making these decisions later.
This content was written on behalf of Greg Prosmushkin.