Pennsylvania Attorney Answering Your Estate Planning Questions
When considering an estate plan, you are likely to have many questions that need to be answered. Estate planning is a complex legal area that creates confusion and nervousness for many people.
Read through a few of the most commonly asked questions we have encountered and their answers, and talk with an attorney from our firm. At the Law Offices of Jeffrey S. Evans, we have more than 30 years of experience helping people just like you with their estate planning needs throughout the south central Pennsylvania area. We can help you.
What is an estate plan?
An estate plan is a set of documents that establish how you are going to pass on your wealth to your loved one after you die. A quality estate plan will integrate a number of documents, including a will, trusts, powers of attorney and a living will. These documents work together to pass on your wealth effectively and efficiently.
Why do I need an estate plan?
You don’t technically or legally need an estate plan, but it is a tremendous gift and service to your family. When you don’t have an estate plan and your estate goes into probate, it can create numerous difficulties for your loved ones to determine how to distribute your wealth. When you have a quality estate plan, it ensures that your wealth is passed clearly, with minimum challenges for those you love.
Can I do my estate plan myself?
You can create your own estate plan, but generally it is a bad idea. The do-it-yourself online estate planning tools do not add the same kind of value as an experienced attorney who knows the law. An attorney can provide sound counsel to help make sure you are doing it right and to establish your estate plan in a way that will work.
What are trusts?
A trust is an estate planning tool that allows you to retain some control over how and when your assets are transferred. There are many different types of trusts for different situations. At the Law Offices of Jeffrey S. Evans, we can talk through the various trust options with you and make sure you use the right instruments for the goals you have.
What is a power of attorney?
A quality integrated estate plan will provide for the possible situation in which you are unable to make or communicate your decisions effectively. A power of attorney provides for this situation by appointing an agent (attorney in fact) to handle your financial affairs. A power of attorney also describes how you want your finances handled, and it puts limits on the scope of authority being transferred to the attorney in fact.
How do I maximize my giving to my family and loved ones while minimizing costs?
The most important thing you can do to create an effective, efficient estate plan is to work with an experienced lawyer who knows the law and can help you through the process. At the Law Offices of Jeffrey S. Evans, we bring more than 30 years of legal experience to every estate plan we help create. We are a trusted name in estate planning in Waynesboro and throughout south central Pennsylvania.