Three Reasons to Focus on Estate Planning





It is easy for many Pennsylvania residents to delay estate planning, especially if they are relatively young or in good health. There are so many more enjoyable aspects of life to focus on, from home improvements to vacation planning and more. More often than not, estate planning is pushed to the back burner, which is unfortunate because the consequences of poor planning can be tragic indeed.

Below are three straightforward reasons to encourage you to appreciate the importance of a good estate plan. Investing a little time and effort in your estate plan now can save your family, friends, and colleagues turmoil and heartache in the future.

#1 You can control to whom your assets are distributed

This is a big one. Without proper estate planning, the assets you worked so hard to acquire and protect during your life could end up in the hands of unintended individuals or organizations. You probably want your assets will end up where you want them to go, not with unintended beneficiaries or the government. There are a number of ways to ensure your assets are distributed as you see fit. These include wills, trusts, contracts, life insurance policies, and more. A qualified estate planning attorney can help you find the right solution for your estate.

#2 You can decide when and how your assets will be distributed

If you have an opinion on how your assets should be distributed to your heirs, charitable organizations, or others, then estate planning can help you accomplish those goals. If you have minor children, you may wish to set up a trust so they won’t have full access to their inheritance until they are of a more responsible age. You could also have a disabled family member for whom you would like to provide, in which case a special needs trust could be established to ensure they are cared for properly in your absence. There are many ways that an experienced estate planning lawyer can assist you with distributing your assets in a fair and productive manner.

#2 You can save your estate from unnecessary taxes, court costs, attorneys fees, and probate procedures

With strategic estate planning, you can legally minimize the impact that state and federal tax laws will have on your assets, and you can also minimize the amount you will pay in court costs and attorney’s fees. In addition, an estate planning attorney can help you make the most of probate. You may have assets that you wish to transfer in a discrete manner, or you wish to keep details concerning the ownership and transfer of some assets private.

To speak with an experienced estate planning attorney, please contact the Pennsylvania law offices of Shields and Boris. We are leaders in the area of elder and estate law and will work with you to preserve your family legacy.

Elder Law Offices of Shields and Boris

109 VIP Drive

Suite 200

Wexford, PA 15090

Toll Free: (800) 879-0984

Phone: (724) 934-5044


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Elder Law Offices of Shields and Boris
109 VIP Drive
Suite 102
Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984

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