Answers You Need About Estate Plans In Pennsylvania
Making an estate plan can seem like a big step that is often overwhelming. Fortunately, when you work with our compassionate estate planning attorneys at Kreisher Marshall & Associates, LLC, in Bloomsburg, you will have the guidance you need. We understand that you probably have many questions about the estate planning process. You can find our answers to several frequently asked questions below.
What documents does my estate plan need?
Every estate plan should have a few key tools. They include:
- A last will and testament: Identifies your beneficiaries and states which assets to pass to whom.
- A power of attorney: Grants someone the right to make legal and financial decisions if you lose your capacity.
- A health care directive: Leaves instructions to your family and medical team about the care you receive.
- A health care proxy: Names someone to make medical decisions for you if you no longer can.
You may also wish to name a guardian for your minor children or use trusts to pass assets to your loved ones.
When should I update my estate plan?
If you have an existing estate plan, you should update it every few years of after a significant life event such as a marriage, divorce or death in the family.
What if someone dies without a will in Pennsylvania?
The state has a set of rules that it follows if someone dies without a will. These are called the laws of intestacy. The court has a set of procedures by which to distribute your assets, but they might not go to the beneficiaries you would have chosen.
Can I make my own will?
There are many online options for making your own last will and testament. However, most courts will not honor these documents. It is much wiser to invest in a legally sound will composed by a knowledgeable attorney.
Learn More From An Estate Planning Lawyer
You almost certainly have more questions than we have answered on this page. To get more information about wills, trusts and estate plans, please schedule a consultation with us. You can call 570-798-1084 or send us an email to begin.