Are you thinking about creating an estate plan in Berwick, Pennsylvania? Without the right documents in place, the state decides things like what happens to your assets and who takes care of your children.
An experienced Berwick estate planning attorney at Fellerman & Ciarimboli, Law PC can help you put a plan together that reflects your actual wishes.
Our law firm has more than 100 years of combined experience practicing law and helping clients in the area. Contact our law offices today at (570) 714-4878 to schedule a free consultation and learn more about your best course of action.
How Fellerman & Ciarimboli, Law PC Can Help With Your Estate Plan in Berwick, PA
Our estate planning lawyers in Berwick, PA, have been helping local families protect what matters most for decades.
If you hire Fellerman & Ciarimboli to represent you, our Berwick estate planning attorneys can get to work by:
- Drafting a will that clearly lays out how your assets should be distributed
- Creating a trust to avoid probate and give you more control over how your estate is managed
- Preparing durable powers of attorney so someone you trust can handle your finances if you’re unable to
- Setting up advance directives and healthcare powers of attorney to protect your medical wishes
- Advising you on strategies to minimize Pennsylvania’s inheritance tax
- Updating an existing estate plan after major life changes
Contact us today for a free consultation. We’re confident we can help you create an estate plan that protects your interests and that stands up to scrutiny under the law.
Estate Planning Under Pennsylvania Law
Pennsylvania has some estate-related rules that set it apart from most other states. One of the biggest is the state’s inheritance tax, which applies to assets transferred after death regardless of whether you have a will or a trust.
The tax rate depends on your relationship to the person receiving the assets:
- Transfers to a surviving spouse or parent from a child aged 21 or younger are taxed at 0%
- Transfers to children and grandchildren are taxed at 4.5%
- Transfers to siblings are taxed at 12%
- Transfers to all other beneficiaries are taxed at 15%
If the tax is paid within three months of the date of death, heirs receive a 5% discount on the amount owed as well. While a trust won’t eliminate the inheritance tax, strategic planning can help reduce the overall burden on your family.
How Does Probate Work in Pennsylvania?
Probate is another concern worth addressing early. The process can take anywhere from six months to over a year, and the associated costs typically run between 3% and 5% of the estate’s value.
For many families in Berwick, avoiding probate through a properly funded trust is one of the most practical steps they can take.
Estate Planning Documents We Can Prepare for You in Berwick, PA
A complete estate plan involves more than just a will.
Our attorneys can help you with every document you may need, including:
- Last will and testament: Directs how your assets are distributed and names an executor to manage your estate
- Revocable living trust: Allows assets to pass directly to your beneficiaries without going through probate, saving your family time and money
- Durable power of attorney: Gives a person you choose the authority to handle financial decisions on your behalf if you become incapacitated
- Healthcare power of attorney: Names someone to make medical decisions for you if you’re unable to communicate your own wishes
- Living will (advance directive): Spells out your preferences for end-of-life care so there’s no guesswork for your family or doctors
Each of these documents plays a different, yet important, role in the process. Together, they form a plan that covers both what happens after your death and what happens if you’re still alive but can’t manage things on your own.
Schedule a Consultation With Our Berwick Estate Planning Attorneys
Putting an estate plan in place in Berwick, PA, is one of the most important things you can do for yourself and your family. The process doesn’t have to be complicated, not to mention the fact that the cost of planning now is far less than what your loved ones would face without a plan later.
Our Berwick estate planning attorneys have 100 years of combined experience helping families across Columbia County and are confident we can help you as well. Contact Fellerman & Ciarimboli, Law PC today to schedule your free consultation and take the first step toward protecting what matters most.