Wills & Trusts

A Will is the legal document that becomes effective upon your death. Every adult should have a Will. Although there are websites that can provide the outlines of a Will, there are estate planning and administration issues that might not be easily noticed. Also, the preparation of a Will requires a thorough good working knowledge of different laws. The Probate, Estates and Fiduciaries Code, the Pennsylvania Inheritance Tax, and the Federal Estate Tax might all be involved. Wills written without consideration of this, rarely accomplish the goals of a good estate plan and can lead to unintended results.

Durable Powers of Attorney

A Durable Power of Attorney is a legal document that becomes effective if there is an emergency and you cannot handle your own affairs. As with a Will, every adult should have a Durable Power of Attorney. In case of an emergency, a Power of Attorney allows you to name someone as your agent. That gives them the “power” to make decisions on your behalf like financial, banking and the sale of property. The agent must act in your best interest and must not spend your money for the agent’s benefit. A durable Power of Attorney also allows you to name a guardian if you become legally incapacitated instead of the need for expensive guardianship proceedings.