What Age Should I Draft an Estate Plan?

One of the most important things you can do to prepare for the future is to draft a comprehensive estate plan. This will ensure your assets are handled the way you wish when you pass. Estate plans can even benefit individuals while they are still alive. It is important to understand that your age is nearly irrelevant when it comes to estate planning. It is never too early to establish an estate plan. To learn more about how to prepare for the future, continue reading and reach out to our experienced estate planning attorney to discover how an estate plan can benefit you at any stage in your life.

Why draft an estate plan today?

Estate planning will reduce your estate taxes, protect your beneficiaries by maximizing the payout they will receive, allows individuals to establish trusts, guardians, and powers of attorney, and eliminates the need for probate. These are all factors that can benefit individuals of all ages. Powers of attorneys are designed to protect your rights by appointing a trusted individual who will act on your behalf, should you become incapacitated. This feature of an estate plan can benefit anyone by preparing for a worst-case scenario. Everyone can benefit from creating powers of attorney to ensure their best interest is protected. Parents of minors can also utilize an estate plan by appointing guardians to care for their children if they were to pass away. This allows parents to appoint a trusted individual who will care for their children if they become no longer able to or pass away. This is an incredibly useful and powerful tool for parents of minors to utilize in an estate plan.

Do I need an estate planning attorney?

You can create an estate plan on your own by using online tools, but it is not recommended to go through this important process alone. It is the responsible and smart decision to make to hire an estate planning attorney who has the appropriate legal knowledge and skill to draft a comprehensive estate plan that will ensure your assets are handled according to your wishes. Each aspect of an estate plan requires extensive legal knowledge to avoid miswording or missed steps. With the assistance of an estate planning attorney, you will find peace of mind knowing your matters are in knowledge and responsible hands. Drafting a will online using an online outline will open you p for a variety of legal troubles down the road. To avoid this, contact our firm today to learn more about our services and how we can assist you.

CONTACT OUR EXPERIENCED PENNSYLVANIA FIRM

Friedman Schuman is an experienced and dedicated legal resource for clients throughout Pennsylvania. We proudly serve clients facing a wide range of legal matters. If you require the services of an effective attorney, please contact Friedman Schuman today to schedule a consultation.