Few people like to think about estate planning, but making sure your wishes are clearly stated and your family is taken care of is a gift you can give your loved ones even after you are gone. Enlisting the help of experienced estate planning attorneys can make sure your intentions and the interests of your loved ones are protected, and make challenging circumstances easier for everyone involved. There are four documents that are absolutely essential when it comes to estate planning:
In the event of your incapacitation or death, knowing that someone you trust will be in charge can set your mind at ease and spare your family from unnecessary emotional upheaval and expense. Our skilled lawyers practicing in Media, West Chester and Norristown can help guide you through the estate planning process and craft a comprehensive plan that will protect your interests and give both you and your loved ones peace of mind.
0 Comments
Drafting a will can save your family emotional upheaval, time and money in the event of your death. It is essential to enlist the help of experienced estate attorneys who will make sure your wishes are carried out in the event of your passing. If you die without a will, the state will distribute your estate based on the law of intestate succession. If a probate court proceeding is necessary, the court will choose a list of people who are eligible to fill the role of executor. Most states choose the surviving spouse as the executor, followed by adult children, then other family members. If you've been selected to serve as executor of an estate, keep in mind that it can be a time-consuming task that involves many responsibilities. Your intestate estate is made up of all property that is not distributed by will. Fortunately, many assets are not passed by will, such as:
If you have no surviving children or parents, your surviving spouse will receive the entire estate. If you are survived by children who are also the children of your spouse, your spouse will receive the first $30,000, plus half of the balance of your estate. If one or more of your surviving children are not your spouse’s children, your spouse will receive only half of the estate. Your children will receive the remainder. If there is no surviving spouse, your estate will pass in the following order:
If you are survived by minor children who are left parentless, a judge will appoint a guardian for your children and decide who will be responsible for managing their property. Failing to create a will that outlines guardianship for your children will needlessly increase costs and impose an unnecessary burden on your child’s guardian. These situations can be avoided with simple planning by working with attorneys knowledgeable in the matters of estate protection. Carosella & Associates’ experienced attorneys in West Chester and Delaware County can help you craft an estate plan that will provide peace of mind and ensure that your wishes will be carried out accordingly, leaving you and your family to get on with the business of living. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
May 2023
Categories
All
|