Avoiding probate is possible, especially if you ask an estate litigation lawyer in Allentown, Pennsylvania for help. If you do not want to go through the probate process, it is prudent you take actions that go beyond a will. Different approaches should be utilized; for instance, a living trust or the creation of a family limited partnership.
If you don’t understand why you would want to avoid the probate process, considered these reasons.
If you choose to place your assets in a trust or other estate document outside of a will, your heirs may not have to go to court. This can save them from large fines and copious amounts of their time. It may also enable them to focus on healing from any grief they might have.
It is possible that your heirs are relying on their inheritance. The probate process can take months or years; thereby hindering your heirs’ ability to receive their assets. By placing your assets into a trust, your heirs can receive their share immediately following your death. If you prefer there be certain stipulations on the trust, an estate litigation lawyer in Allentown, PA can help.
Probate can cost thousands of dollars. In general, 3-10% of the value of the estate will go to the probate process. If there are will disputes or other formalities, the costs could be higher. By avoiding probate, your heirs could inherit more.
Furthermore, if your estate is large and you’ve left assets to someone other than your spouse, estate tax could reduce the estate’s value and your heirs’ inheritance. These taxes must be paid before any assets can be distributed in the probate process.
Probate is public. Any documents submitted to the probate court become a matter of public record. This means the public can view what your heirs have inherited, whether there were any disputes, and more. If you value your privacy or have concerns about the public finding out about your estates’ assets, and it’s value, you should consider a trust.
When the will is submitted to the probate court, it can be contested by anyone who believes they have a right to some or all of the assets. If their contest is successful, anyone who was originally supposed to inherit assets may be prevented from doing so.
If You Want to Avoid Probate, You Should Choose a Qualified Estate Litigation Lawyer
Whether you are sure that you want to avoid probate, or you would like to explore all of your options, you should speak with an estate planning lawyer Allentown, PA residents turn to. At Klenk Law, we can listen to your needs and utilize effective estate planning tools to protect your assets, keep the costs to a minimum, and ensure your objectives are met. If you would like to talk with an estate litigation lawyer Allentown, PA clients recommend, please call our office now.
Peter provided outstanding advice and preparation of a will and trusts.
Peter was excellent. He explained everything very clearly and is super friendly. My wife and I originally tried using a lawyer through group legal coverage, but unfortunately the old adage - "you get what you pay for" - applied to the other lawyer, and we decided to go with a real professional.
When it came down to picking the right attorney to handle my affairs, I knew right away it was this firm. From speaking to their secretary to speaking to Peter I knew I was making the right decision. After only a few mins Peter knew right away what I was looking for and handled all my questions professionally and even gave me great feedback that put my mind at ease. All that without even giving a single penny! So of course I hired him! So far so good...
AWESOME LAWYER! Peter Klenk is an exceptional attorney and a very nice person! Today I spoke with Peter about estate planning and was impressed with by his professionalism, cordiality, and attention to detail. I highly recommend Klenk Law for probates, wills, trusts, and other issues germane to estate planning!
Great friendly staff
Tremendous firm with bright, kind and tenacious people. Great representation for our family.
I'm totally satisfied with Klenk Law. Peter has a great legal mind with the personality of the guy next door.
Everything about my experience was a 10+! Peter and his staff made what I thought would be a difficult process easy and understandable. Every detail was handled correctly. No other firm could possibly do better than Klenk Law!
Peter and his staff are very responsive and always willing to help my clients and in a cost efficient manner.
Like another reviewer, I contacted Peter through his website using the free consultation link, for a question regarding PA inheritance taxes. The question was quite technical and difficult to explain, and the answer was nowhere to be found on the web. Peter grasped precisely what I was asking, and provided a clear, helpful response (with a touch of humor) the very next day.
Answered my question quickly and referred me to a colleague that could handle my problem
Mr. Klenk, quickly understood the circumstances presented and provided clear and concise advice. This advice provided me with the information I required to progress the case to my advantage.
Peter is excellent. I had a very complicated situation with my parents' estate planning and potential Medicaid needs. Peter was very knowledgeable in estate planning matters, able to define the best solution for the situation. Additionally, he was congenial and able to communicate effectively to my senior citizen parents the benefits of estate planning. He earned my trust, and more importantly, my parents' trust in a 45 mins consultation period. Highly recommend Peter. He is very easy to work with.
Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!
Peter provided outstanding advice and preparation of a will and trusts.
Peter explained things in a way that was easy to understand. Everything was done in the time frame he said it. Could not have been better!
You & your staff are the best thank you for everything.
Peter and his staff handled all of our needs in a very professional and timely matter.
Peter Klenk made a complex subject understandable and allowed us to move forward with our estate planning. He was patient with our questions and creative in the solutions he proposed.
Peter explained a complex subject very clearly, helped us to decide the best approach to managing our estate and then made it very easy for us to execute the required documents. He will be a valuable resource for years to come and clearly has a great understanding of estate law that will lead to innovative solutions for us. I would unhesitatingly recommend him for estate planning.
Fantastic customer service. Very personable and most importantly they provide great explanations of what is required based on your individual needs. Highly recommend Klenk Law for anyone that needs to create a will and estate documents.
Always professional and very responsive. Everyone on the staff that I have worked with. I look forward to continuing our relationship.
Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.
Peter and his associates made things easy for us.