Bensalem Estate Planning Lawyer
Planning ahead for your family and loved ones’ futures is a thoughtful act, regardless of how old you may be. In fact, estate planning requires significant forethought and hard work, including going through all of your assets. Those assets might even include cards, properties, or bank accounts you have not thought about for a long while.
Because estate planning can be such an arduous process, legal help is often needed. Estate planning lawyers may be able to help you get all of the granular details in order as well as help you discern the best plan of action as you move forward in these endeavors. If you are on the fence about hiring a Bensalem estate planning lawyer, let us address the ways in which one may be beneficial to you and your loved ones.
Do You Have Questions About Family Law? We Can Help, Tell Us What Happened.
What Does Owning an Estate Involve?
More people than you would initially think own estates of one form or another. Actually, any individual who owns some form of assets is the owner of an estate. This includes, but is not limited to, the following:
- Real estate property
- Bank accounts
Because so many people own assets, you may benefit from estate planning. Additionally, many people are not giving their friends and family the advantages that come with having an estate plan in place.
How Does Estate Planning Work in Bensalem, PA?
Simply put, estate planning helps you and your loved ones avoid litigation regarding your assets. This is especially useful when you are no longer able to speak for yourself, as well as when you need help navigating the legal aspects of distributing your estate. For example, many estate plans are considered legally binding when they have been authored properly and overseen by professionals. Additionally, these plans are unlikely to face a dispute.
Depending on your circumstances, you may be able to ensure a significant portion of certain types of your assets goes to your family, charity, or another party. Property estate planning also offers protection to minors.
Planning your estate will allow you to state exactly how your unfinished affairs should be handled, including your financial, legal, and personal obligations. This may also let you determine who you would like to be responsible for handling your estate.
Most Common Types of Estate Plans
Estate plans can take multiple forms, depending on what legal counsel may deem best for your situation. Some of these include the following:
Also called a “last will and testament,” a will allows you to name an executor you trust who will carry out unfinished business. You may also name heirs and how your assets may be divided. Burial instructions can also be set forth
This type of estate plan allows you to leave your assets in trust for minors and adults with instructions on payouts. Special needs trusts may also be needed for children or adults with disabilities. A trusted individual or financial institution, named by you, will be responsible for resolving your various obligations, liquidating your assets and making sure your assets are distributed in accordance with your wishes after passing away.
Power of Attorney
This is a decree which allows you to designate someone as having authority over some crucial decisions. In the case the author is unable to finish some legal or financial business, for example, this individual will be responsible.
Health Care Power of Attorney
In the Health Care Power of Attorney, you will name a trusted individual or individuals as your agent to make health related decisions for you when you are no longer able to make these decisions for yourself. The Health Care Power of Attorney will provide guidance to your agent regarding your health care wishes.
These decisions can be difficult and overwhelming. A Bensalem estate planning lawyer at Rubin, Glickman, Steinberg and Gifford will provide guidance to you to make decisions appropriate to your circumstances. A Bensalem estate planning lawyer at Rubin, Glickman, Steinberg & Gifford will also review your asset situation to help minimize taxes related to your death.
Ease Planning With a Bensalem Estate Planning Attorney From Rubin, Glickman, Steinberg, & Gifford P.C.
Estate planning can be stressful and difficult to navigate.. This is where a qualified lawyer from Rubin, Glickman, Steinberg & Gifford, P.C., can help. If you are interested in gaining legal advice while planning your estate, it is best to reach out to those with extensive knowledge on the subject. We have over 65 years of legal experience in Pennsylvania, so you can trust that we will handle this process efficiently and thoroughly for you.
If you want to reach out to our award-winning law firm, we are ready to assist. You can contact our friendly and intelligent team for a free consultation by filling out our contact form or calling us at (215) 822-7575.