Telford Estate Planning & Administration Lawyers

Experienced Estate Planning & Administration Lawyers Help Clients in Telford, PA Plan for the Future

Millions of Americans do not have an estate plan in place, meaning that their hard-earned assets will be handled by state laws at their death.  While no one wants to think about death, planning for death is an important part of life. Not only do you want to make sure your assets are divided according to your wishes, but you want to make sure your loved ones are protected.

At Rubin, Glickman, Steinberg & Gifford, P.C., our Telford estate planning and administration lawyers take a client-centric approach that will give you the peace of mind you deserve.  We have over 65 years of experience navigating complex estate planning and administration issues for clients across Southeastern Pennsylvania. 

Once your plan is set into place, it should be reviewed periodically to account for changes in the law.  Eventually, it will also have to be administered to carry out your wishes—whether by a close friend, family member or trusted lawyer.  We believe in developing relationships with our clients and will be here to provide support every step of the way, now and into the future.

The decisions you make regarding your estate plan during life are the key to protecting your loved ones and your hard-earned assets.  Contact our trusted Telford estate planning and administration lawyers today to learn more about creating a tax-smart, goal-oriented estate plan that meets your needs.

Our Telford, PA Estate Planning & Administration Practice: Ranging from the Basic Estate Plan to Complex Estate Planning Structures

Our estate planning and administration lawyers are prepared to draft all of the valuable estate planning documents you may need, including:

  • Wills,
  • Trusts, both revocable and irrevocable,
  • Special needs trusts,
  • Healthcare directives,
  • Durable powers of attorney,
  • Living wills,
  • Business succession plans.

More complex planning structures that may be useful for you include:

  • Charitable remainder trusts.  Charitable remainder trusts (CRTs) allow you to give assets to charity while allowing your loved ones to enjoy the income produced by those assets currently.  In the wake of the new federal estate tax changes, naming a CRT as beneficiary of your IRA or 401(k) may produce even greater future tax benefits.
  • Life insurance trusts.  Funding an irrevocable trust with life insurance can provide tax-preferred benefits to your heirs while also removing the value of the life insurance from your federal taxable estate.  Because the funds are payable to the trust, the strategy can also provide valuable creditor protection for your heirs.
  • Grantor retained annuity trusts.  Grantor retained annuity trusts (or GRATs) provide a tax-preferred means of transferring assets to your heirs beginning during life.  The GRAT pays you a percentage as an annuity payment each year and the assets in the GRAT pass to your heirs (with either low or no gift tax liability).

Why Retain an Experienced Telford, PA Estate Planning and Administration Lawyer?

Many potential clients think they do not need an estate planning and administration lawyer because they have smaller estates or want to leave everything to a surviving spouse.  In reality, everyone can benefit from seeking out the advice of a qualified estate planning lawyer even if your needs are modest. Key reasons to retain an experienced estate planning and administration lawyer include:

  • Preventing conflict among your heirs after your death,
  • Minimizing the amount of inheritance taxes and federal income and estate taxes that will come out of your final estate,
  • Removing assets from your probate estate and making sure probate runs smoothly,
  • Setting up your funeral arrangements,
  • Arranging for the administration of your estate by a knowledgeable lawyer to relieve your family of that burden,
  • Protecting your estate against future legal judgments and challenges,
  • Protecting the assets you leave to heirs from their creditors, including providing protection in the event of divorce and remarriage,
  • Learning about potential giving strategies you may have overlooked,
  • Gaining the peace of mind knowing your wishes are documented.

Schedule a Free Initial Consultation with a Seasoned Telford, PA Estate Planning and Administration Lawyer Today

The decisions that must be made with respect to your estate plan are too important to be left to chance.  Our lawyers are here to both answer your questions and provide information about planning strategies that may best suit your needs.  To learn more about our firm and our practice, schedule a free consultation with our experienced Telford estate planning and administration lawyers today.

About Telford, PA

Telford is a borough that is located in Bucks County and Montgomery County, Pennsylvania.  As of 2018, the Telford population was approximately 4,882—divided roughly equally between Bucks County and Montgomery County.  Telford’s total area is only approximately one square mile, all of which is land. Although passenger rail service to and through Telford is not currently running, a SEPTA bus route begins in Telford and runs to the Montgomery Mall.

Frequently Asked Questions About Telford Estate Planning & Administration Issues

FAQ: What do I need to know about my estate plan and the new SECURE Act retirement law?

The SECURE Act fundamentally changed the way that inherited retirement accounts are taxed. Many estate plans were developed with the goal of leaving retirement assets to the youngest beneficiary, because the old law let those beneficiaries use their own (longer) life expectancy to stretch the tax benefits of the inherited account for decades. Under the new law, most non-spouse beneficiaries have only ten years before they have to empty the IRA (and pay income taxes on the amounts withdrawn). Further, many trusts that were named as IRA beneficiaries need to be reviewed now to avoid unfavorable tax results.

FAQ: When should I revisit my estate plan?

Your estate plan should be revisited fairly often to make sure it continues to serve your goals. At minimum your estate plan should be revisited in the event of:

-The birth of a child,
-Marriage or divorce,
-You or a loved one suffers an illness
-Death of a spouse, child or heir,
-Anticipated purchase or sale of a business
-Changes in your financial status.

Legal changes can also make it important to revisit your estate plan. Tax laws impacting your federal estate tax liability and valuable planning strategies change frequently. To make sure your estate continues to be tax-efficient and provides the financial protection you need, it can be valuable to schedule a meeting with an experienced estate planning lawyer every two to three years (especially if your assets are varied and extensive).