Helping You Overcome Life’s
Estate Planning Frequently Asked Questions
Estate planning is an incredibly important, but incredibly complex process. Having an estate plan in place is crucial for providing for your loved ones after you pass away. Before you begin planning your estate, take a few moments to read through some of our Pennsylvania clients’ frequently asked questions about estate planning.
What Exactly Is Estate Planning?
Estate planning is the process of deciding what should happen to your assets and property after you die. Even if you are not elderly or do not have a large estate, estate planning is crucial to protect your loved ones’ well-being and ensure that they respect your wishes after your death.
What Do I Need In My Estate Plan?
Everyone’s estate is slightly different, but you should have a few basic estate planning documents, including:
- A will, which names an executor for your estate and states which property will go to which beneficiary
- A durable power of attorney, which names someone to act on your behalf if you become incapacitated
- A durable health care power of attorney, which appoints someone to make medical decisions on your behalf if you are incapacitated
What Will Happen If I Die Without An Estate Plan In Place?
If you pass away without addressing how to handle your estate, you may inadvertently create a great deal of hassle for your family and other loved ones. They may have to go through a complicated legal process called intestate administration, and your assets may not be handled as you would have wished.
Can I Plan My Estate By Myself?
If you have a simple estate with few assets, then, yes, it is sometimes possible to create your own estate plan. But you should understand that an estate plan you create yourself may not hold up in court. In fact, it could cause additional complications for your beneficiaries. It is far better to work with a skilled attorney who understands how to create legally sound estate plans quickly and efficiently.
Begin Creating Your Estate Plan
Plan for the future today by beginning your estate plan with a lawyer. We serve clients in Montgomery County, in Bucks County and throughout the Philadelphia area. Simply call 267-728-4535 or 800-851-2534 or send an email.