Do you need help with estate planning in Scranton, PA? A comprehensive estate plan lets you direct what happens to your estate after your death. Estate planning also includes tools to protect your assets during your lifetime and advance planning for healthcare and financial matters should you become incapacitated.
Working with an experienced Scranton estate planning lawyer ensures you have the necessary legal documents to accomplish your goals and that those documents are correctly drafted so they are enforceable. Our lawyers at Fellerman & Ciarimboli, Law PC have over 100 years of combined legal experience.
Contact our law office at (570) 714-4878 to schedule a free consultation with an experienced attorney.
How Fellerman & Ciarimboli, Law PC Can Help You With Estate Planning in Pennsylvania
If you do not have a will, Pennsylvania intestate laws determine how your estate is distributed. A will and other estate documents ensure your assets will be passed down to the people you choose.
When you hire our Scranton estate planning attorneys, we will assist you in developing an estate plan by:
- Explaining Pennsylvania probate laws and how those laws impact an estate plan
- Discussing your priorities and wishes for issues related to your final estate
- Reviewing the advantages of creating trusts, powers of attorney, and other legal documents
- Assisting you in selecting the individuals who will serve as your administrator, agent, trustee, etc.
- Discussing strategies for tax planning, gifting, charitable donations, and asset protection
- Coordinating your retirement plan with your estate plan
- Preparing your estate documents and reviewing the documents with you before you sign them
- Explaining the necessity of periodically reviewing and updating your estate documents
Our attorneys have national recognition and top ratings from numerous organizations. The National Association of Distinguished Counsel has included us in the nation’s top one percent, and we have been recognized by Super Lawyers.
Call Fellerman & Ciarimboli, Law PC to schedule a free consultation with one of our lawyers in Scranton, Pennsylvania.
Documents Included in a Comprehensive Estate Plan in Scranton, PA
Our estate lawyers customize an estate plan based on your needs and goals. Examples of estate planning documents you may include in your plan are:
Will
A will accomplishes several important estate planning goals, including:
- Naming your heirs to inherit your assets
- Distributing property to heirs
- Naming a guardian for minor children
- Creating a testamentary trust and naming a trustee for minor children
- Making charitable contributions and gifts
- Providing instructions for your funeral or burial
- Naming a personal representative/administrator to oversee your estate
A will may be simple or complex. It depends on the person and the specific circumstances involved in their estate. Without a will, state intestate law determines who inherits your assets and receives guardianship of your minor children.
Trust Agreements
A trust holds assets for the benefit of the beneficiaries named in the trust. A trustee manages the assets according to the terms outlined in the trust agreement. The person who creates the trust is the grantor or settlor.
There are many different types of trusts, including, but not limited to:
- Revocable Living Trust
- Special Needs Trust
- Charitable Trust
- Irrevocable Living Trust
- Spendthrift Trusts
- Qualified Personal Residence Trust
- Medicaid Asset Protection Trust
Each type of trust serves a different purpose. However, the general benefits of a trust include avoiding probate, reducing estate taxes, and asset protection. Our lawyers will help you determine the types of trusts that accomplish your goals and benefit you and your heirs.
Durable General Power of Attorney
A durable general power of attorney appoints an agent for financial matters. If you do not limit your agent’s powers, they can perform any financial matters you could do yourself.
The “durable” provision means that the power of attorney remains in force if you become incapacitated. This provision prevents a court-appointed conservator from managing your finances if you become incapacitated.
Advance Healthcare Directives
Healthcare directives, such as Living Wills, Do Not Resuscitate (DNR) Orders, and Medical Powers of Attorney, allow you to dictate the medical care you do and do not want if you cannot speak for yourself. You can appoint an agent to make medical decisions for you and enforce your wishes.
Beneficiary Designations
Some assets, such as life insurance policies and retirement accounts, pass outside of your estate. You must designate beneficiaries with the company that holds the policy or account. Our lawyers will review all your assets with you to determine which assets need beneficiary designations and how those designations could impact your overall estate plan.
Additional Estate Planning Documents
Your estate plan is unique. Therefore, you may have additional documents to accomplish specific goals or address other matters. For example, if you own a business, you may create a Business Succession Plan.
You may want to include a Letter of Intent to provide private and personal instructions for your heirs. A list of digital assets, including logins and passwords, may also be an essential element of your estate plan. Our lawyers cover many issues that clients may not consider until we discuss the issues during estate planning.
Call Our Scranton Estate Planning Lawyers for a Free Consultation
You do not need to be married, have children, or accumulate substantial assets to benefit from estate planning. Your estate plan can grow with you as you experience different life events.
Contact Fellerman & Ciarimboli, Law PC to schedule a free consultation. We are here to help you protect what you have now and plan for your future.