Though it is difficult for anyone to think about life after they pass away, it is always a good idea to be prepared. Planning your estate can ease some of the stress on your loved ones and allow you to make sure all of your wishes are met. If you have been chosen to administer someone else’s estate, you will be responsible for carrying out all of the decedent’s wishes upon their passing. Regardless of whether you are planning your own estate or carrying out the wishes of someone else, it is important to have legal guidance to help you every step of the way. The knowledgeable estate planning attorneys at Friedman Schuman have represented clients in matters related to wills, trusts, and estates for over 40 years. Contact our firm today if you require the services of an experienced attorney.
It is important to be prepared for end-of-life matters. The attorneys at Friedman Schuman have over 40 years of experience assisting clients when it comes time to draft a Will. This is one of the most important things a person can do to protect the future of their estate.
A trust is a fiduciary arrangement in which a trustee holds assets on behalf of a beneficiary or beneficiaries. Trusts can specify how and when assets should be passed to beneficiaries. When a person has a trust, they may be able to avoid the probate process when the time comes to distribute assets. This can save a family time, money, and court fees.
Probate is the legal process that occurs after an individual’s death. An individual’s estate can go through the probate process if he or she dies with or without a valid Will. If the decedent dies with a Will, the estate can pass through probate and assets can be distributed according to the terms outlined in the Will. Conversely, if a decedent dies without a Will, the law will dictate how the decedent’s estate assets can be distributed.
When an individual dies, an estate may need to be opened and the process of estate administration will begin. If the decedent dies with a Will, he or she is said to have died “testate.” Within the Will, the testator would have identified an executor. This executor holds the responsibility of carrying out the testator’s wishes as referenced in his or her will.
There may come a time when you are unable to make a decision for yourself for any number of reasons. A Power of Attorney (POA) gives another person the power to make financial decisions and property transactions on your behalf. The individual who is named to act on your behalf is known as the agent. You may decide to execute a power of attorney if you become unable to handle matters for yourself due to sickness or an injury, or if you will be away for an extended period of time.
When a loved one becomes incapacitated and can no longer make decisions for themselves, it may be the responsibility of a family member to make decisions for them. It is of the utmost importance that an individual creates an advance healthcare directive to provide those family members with guidance in making those decisions. It is essential to retain the services of a qualified estate planning attorney who can guide you through creating an advance healthcare directive.
Planning for life as you age or helping to plan the future of your elderly loved one is a very important process. When individuals have a plan in place for their future or a loved one’s, they can feel at ease and relieved that they prepared for uncertainty. Planning for the future can seem very daunting, so it can be of great value to seek the help of an attorney who can help with your elder law needs.
When a loved one passes away, his or her estate must be closed, all assets must be administered to beneficiaries, and any remaining debts must be paid. Sometimes, contentious disputes can arise between beneficiaries and the estate administrator or executor. It can be difficult to come up with a resolution that would be in accordance with the decedent’s wishes. During such a difficult time, it is a good idea to retain the services of an estate litigation attorney.
Contact our Pennsylvania Estate Planning Attorneys
When clients throughout Pennsylvania require legal guidance to assist them in matters related to the estate, they can turn to the experienced attorneys at Friedman Schuman. For over 40 years, our Pennsylvania estate planning attorneys has provided clients with the assistance they need to prepare for the future and resolve estates. Contact Friedman Schuman & fill out our estate planning questionnaire today.