Everyone acquires assets during their lifetime. What will happen to your home, possessions, bank accounts, investments, and other assets when you die? Without a valid estate plan, your assets will be distributed according to state law, which won’t likely match your true wishes. Estate planning is the process of creating legal documents and arrangements that give you control over the distribution of your assets and help you spare your family from unnecessary confusion and expenses.
If you want to provide for your family’s future, an estate plan can help you preserve your assets for their benefit and control how they are distributed when you die. Attorney Lillian Orzechowski is an experienced estate planning lawyer based in Springdale, PA. As your attorney, she can assist you with creating and modifying wills as well as living trusts and other estate planning documents. These strategies offer different benefits and are used to achieve different goals. Lillian will assess your unique needs to determine the best course of action and create a personalized plan just for you.
A simple will is the most basic and common estate planning tool. It is a legally enforceable document that allows you to state your wishes regarding how your assets will be divided after your death. It also allows you to name a legal guardian to care for your minor child if you are to die before they reach adulthood. For many clients, a simple will is enough to meet their objectives. For others who want more control over the distribution of their assets, as well as several other advantages, a living trust may be a better choice.
A living trust is a legal agreement that allows you to appoint a trustee to hold and oversee assets that you want to eventually pass down to beneficiaries when you die. Living trusts offer you a variety of advantages, such as sheltering assets from taxation and setting money aside for children so that they cannot spend it too frivolously.
For example, you may set conditions for your beneficiaries, such as requiring your child to complete high school before receiving their inheritance or having their inheritance distributed in yearly increments rather than as a single lump sum.
Trusts can also help your family avoid probate. When you place an asset into a trust, you no longer own it. While you have control over the asset during your life, it is technically and legally owned by the trustee. The probate process only involves assets that you own. Therefore, putting assets into a trust can spare your family from having to go through the probate process to inherit them in most cases. This will save them time and unnecessary stress when they are already dealing with your loss.
Contact us today to start planning a customized estate planning strategy so that you can provide for your family’s future. We would be happy to assess your needs and start exploring your options. Either call (724) 715-7250 or fill out our online contact form and our will and trust attorney in Springdale will reach out to you as soon as possible to schedule your first appointment.
Since starting her practice in 1990, Attorney Lillian Orzechowski has provided exceptional legal guidance and representation in the areas of estate planning, probate, real estate, and elder law. The mission of the Law Office of Lillian Orzechowski is to provide clients with courtesy and personal attention to meet their unique needs. Lillian maintains her ethical standpoint and always maintains integrity.
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Highly Recommended: Knowledgeable, Professional & Personable I have dealt with various law offices and Attorneys along the way but are completely satisfied choosing Attorney Lillian Orzechowski!... read more
The information contained on this website is presented for informational and marketing purposes only and is not to be understood as legal advice. You should consult an attorney for advice respecting your individual needs. Law Office of Lillian Orzechowski looks forward to speaking with you about your particular needs. Please note, however, that the mere act of contacting our firm does not create an attorney-client relationship. As a result, you should never send any confidential information to our office until a Representation Agreement has been signed by both you and Law Office of Lillian Orzechowski.