Many individuals who draft a will feel secure in their estate planning efforts. However, a will only provides certain protections and direction regarding your estate. No matter the size of your estate, nothing can replace the counsel of an experienced estate planning lawyer in Allentown, PA.
Estate Planning Considerations
The need for a legally sound estate plan that reflects your current situation, wishes and goals is not dependent on how wealthy you are. Whether you have relatively modest assets or millions to protect, an Allentown, PA estate planning lawyer will conscientiously explain the options and strategies that can best benefit you.
Lawyer services include:
- Drafting basic, simple wills and other critical documents — such as powers of attorney and advance health care directives — for people who want to protect their families without incurring undue expense
- Fully assessing client needs and preparing more sophisticated estate plans for those who will benefit from the creation of living trusts, special needs trusts, family limited partnerships, business succession plans, gifting programs, long-term care planning or other steps
- Providing comprehensive probate and estate administration services after the death of a loved one, with emphasis on guarding our clients’ interests and minimizing family conflicts and associated stress and costs
- Helping owners of family businesses establish a plan for passing the entity onto future generations
- Resolving estate-related disputes between family members and others by means of mediation and negotiation and, when necessary, litigation.
An estate planning lawyer in Allentown, PA can help execute a variety of estate planning initiatives, including:
- Revocable and irrevocable trusts
- Funding trusts
- Special needs trusts and other planning for loved ones with special needs
- Trusts for minors
- Asset management powers of attorney
- Health care powers of attorney, which may include advanced directives or living wills
- State and federal estate tax planning
- Disclaimer-based tax planning
- Elder law and Medicaid planning
- Lifetime gifts and charitable gifts
- Transfer of unique assets such as art, antiques and collectibles
- Prenuptial and postnuptial agreements
A personally tailored estate plan that fits your needs
A carefully designed estate plan provides security and structure for your loved ones and minimizes federal and state death taxes. No single tool or formula fits every family’s unique circumstances or satisfies each client’s personal needs.
To protect minor children, a lawyer will design a plan that includes naming guardians and setting up trusts that provide for their financial welfare. If your family includes a member with a disability, an estate planning lawyer can structure a special needs trust to protect your loved one. A lawyer may develop sophisticated tax strategies to access tax deductions, exclusions and exemptions during your life and save your family death taxes after you pass.
Seek Legal Counsel
It is never too early to think about the future. Failing to have a plan in place can result in your assets passing to unintended beneficiaries, legal fees, probate costs, and custody battles. Estate planning will give you the peace of mind that comes with knowing your family is protected.
Whether creating an estate plan for the first time or wishing to revisit your plan due to new developments, an experienced estate planning lawyer in Allentown, PA can provide customized counsel and personal attention. Such Lawyers may be found at Klenk Law firm. Get legal counsel today.