Every adult must plan for the future. This includes what will happen as you grow old, as well as what will happen after your death. A combination of legal documents can form an estate plan to help you to retain control over these matters.
An estate plan can include many components, such as wills, trusts, living wills, and business succession plans. These documents work to assign property after death, provide care for a loved one, and retain control over a family business or other company holdings.
Our New Castle estate planning lawyers could help you prepare the necessary documents to meet your specific needs and provide protection against unforeseen circumstances. Our dedicated trusts and estate attorneys are on your side.
Effective estate planning centers around your needs. For this reason, the first step should always involve meeting with an attorney so they can understand what you hope to accomplish and advise you on the best way to see your wishes fulfilled.
Common examples of estate planning include:
A New Castle attorney could help you make an estate plan by identifying assets, uncovering vulnerabilities, and suggesting ways to retain control over your future.
An estate plan is only as effective as the documents themselves. To this end, estate planning documents must be as specific and clear as possible while meeting the relevant legal requirements. A variety of estate planning tools can address your future needs, including:
In terms of specificity and clarity, it is essential to name all assets and beneficiaries so your heirs understand their rights after your passing. Similarly, adhering to the Commonwealth’s laws about proper document construction can help give these estate planning tools legal power in the future.
For instance, Pennsylvania Consolidated Statutes, Title 20 §2502 says that all wills should be in writing and contain the signatures of the testator and two witnesses. This rule also applies to the formation of trusts, powers of attorney, and other estate planning documents. Witnesses can attest to the testator’s sanity at the time of signing the document.
An experienced lawyer could ensure that all your estate planning documents contain the necessary provisions for maximum legal impact.
Estate planning requires a full examination of your present circumstances to properly protect your future. Your goals may include transferring assets to heirs, protecting a business, retaining undivided property in your family, or creating instructions for future medical care.
Our New Castle estate planning lawyers could strive to understand your needs and suggest realistic goals. Once you come to a decision, they could help draft the necessary documentation to give your decisions the intended legal effect. Reach out to our competent attorneys today to get started.