Issues with estate planning in Cranberry Township, whether outdated documents, missing key components, or unexpected tax consequences, can create major headaches for your loved ones.
At Sechler Law Firm, LLC, our compassionate estate planning attorneys help families avoid these pitfalls so their plans work when they need them to. Here is a look at some common estate planning problems and how to fix them.
One of the most significant issues with estate planning is not updating your documents. Life changes can impact your estate planning, and if you fail to update your document to reflect these, your old plan may not do what you intended.
Some of the common estate planning mistakes in Cranberry Township include the following:
To avoid these issues, review your estate plan every few years or whenever a major life event happens.
Many people think having a will means their family can skip probate. However, that is not the case. A will must go through probate, which can be time-consuming and costly.
Similarly, a will does not protect assets from nursing home costs or provide instructions for managing assets during incapacity. Consider using a revocable living trust to bypass probate and make things easier for your heirs.
Estate planning is not just about what happens after you pass away—it also makes sure your affairs are handled if you become incapacitated. Without the correct documents in place, your loved ones could end up in court to make medical or financial decisions for you.
Key documents you need:
Make sure you have powers of attorney and a living will in place so your family can act without legal delays.
Pennsylvania imposes an inheritance tax that applies to particular beneficiaries, even for modest estates. The tax rate depends on the heir’s relationship to the deceased:
Gifting assets in advance or using trusts could help reduce or avoid inheritance taxes, a significant issue during estate planning in Cranberry Township.
With online templates and DIY estate planning kits, it is tempting to think you can handle everything yourself. But one small mistake—could invalidate your entire plan. For instance, this could lead to improper execution such as documents missing required signatures or witnesses.
In addition, these DIY plans may use generic language that may not comply with Pennsylvania law. Work with an experienced Cranberry Township lawyer who can create an estate plan tailored to your needs and avoid the common mistakes.
Estate planning is one of the most important things you can do for your family, but it has to be done right. At Sechler Law Firm, LLC, we help people in Cranberry Township create estate plans that actually work—so their loved ones do not face unnecessary legal and financial stress.
Want to learn more? Click here to attend one of our elder law workshops and get the information you need to protect your family’s future.
