Estate planning has become a hot topic across the nation, and Pennsylvania residents have taken notice. In our firm, we have seen a new burst of interest in many of the topics surrounding estate planning. These topics include wills, trust, health care directives and many others. We believe that planning your estate is a healthy activity that can take the worry about end-of-life and other sensitive matters out of the equation.
Contrary to popular opinion, estate planning need not be a difficult or stressful process. While you can attempt to tackle this on your own, most people find it easier to reach their goals by working with an experienced attorney. This important step helps you identify what you need to include in your plan regardless of your estate size. The following section outlines three common estate planning elements for you to consider.
Will
As you probably know, a will allows you to decide how your property is distributed after death. It can also allow you to assign a guardian for your minor children.
Trusts
This estate planning option gives you the power to manage your assets during life. It also helps your family members by paving the way for a smooth change of your affairs after your death.
Powers of attorney
These legal documents allow you to make decisions ahead of time in case you become incapacitated. A health care power of attorney outlines your medical wishes that a person of your choice carries out on your behalf. A financial power of attorney does the same thing for your property and assets.
You do not have to be rich and famous to benefit from estate planning. Even the most ordinary people with just a few assets gain enormous peace of mind knowing that they have taken care of their loved ones and their estates with careful planning. Keep exploring our firm’s site to learn specific details about these and other estate planning options.