Growing older comes with many legal challenges. For some, this may involve creating an estate plan to provide for family members and heirs and giving certain financial and legal privileges to a loved one or trusted third party. Others may need to consider what to do with their business when the time comes to retire. These factors combine to form the basis of elder law, which is designed to help with end-of-life planning and ensure that an individual lives their later years in comfort and security.
Talking with our Cranberry Township elder law attorneys could help you make these plans for the future. A member of our diligent legal team could assist in drafting a will, modifying existing testamentary documents, and providing a better future for your heirs and family members. Our trusts and estate attorneys are here to help you.
The most basic example of elder law planning is determining what will happen to your assets after death. Traditionally, a will informs a probate court about these desires and determines the property rights of named heirs. While it is true that making these arrangements for after death is still a major part of elder law, it is far from the only concern.
Effective elder law planning can also provide for the well-being of loved ones. For example, you may wish to create a trust to fund your grandchild’s education. Alternatively, you may want to provide funds to charities or help care for those with special needs. In addition, placing property in a trust can bring tax benefits and help people qualify for government programs like Medicaid.
A Cranberry Township lawyer could help you identify your goals for estate planning and suggest options within elder law to make them a reality.
Forming an effective estate plan requires an understanding of your needs and how the law impacts your future desires. If a will already exists, drafting a new document will override any existing plans. If you do not have a previous will, an elder law lawyer could start from scratch to cover all your bases.
Another key aspect of elder law is the interaction between the Commonwealth’s statutes and testamentary documents. For the most part, you can name any beneficiary and include almost any provision in your wills, trusts, or other documents.
However, it is essential to follow the legal requirements for the formation of these documents. For example, Pennsylvania Consolidated Statute §20-2502 says that wills should be in writing and contain the signatures of the testator and two witnesses.
A local attorney who is well-versed in elder law could help identify your estate planning needs and draft documents that give those needs the legal basis they require for the future.
Proper elder law planning can serve a variety of functions, such as ensuring that your assets go where you want after your death.
Let a Cranberry Township elder law attorney take the lead in forming your future plans. Our team could work with you to understand your goals, suggest legal options, and draft documents that carry the full legal effect while leaving no doubt about your wishes for the future. Reach out today to get started.