When you need the help of an estate planning lawyer Allentown, PA recommends, contact Klenk Law to see how we can help. Avoiding probate is possible, especially if you ask a probate 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. Utilize several different approaches; 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, consider these reasons.
Our estate planning lawyer Allentown, PA, turns to shares that you can simplify your estate if you choose to place your assets in a trust. In some situations, this can save time and money. Further, if your children live far away, they can manage the process remotely. Also, revocable trusts are not published, so your plan remains private. It may also enable them to focus on healing from any grief they might have.
Depending on your situation, a revocable trust may speed up the process. If so, and if your heirs are relying on their inheritance, a quicker process has an advantage. Our estate planning lawyer Allentown, PA, relies on, will tell you that in some situations, the probate process can be slower. If you prefer, there are specific stipulations on the trust, an estate planning lawyer Allentown, PA know, can include.
If you expect conflict between the heirs after your death, a Revocable Trust can be useful. By working with your estate planning lawyer, especially one who is familiar with Will Contests, they can put up roadblocks against frivolous will contests. Litigation can cost tens of thousands of dollars. An estate planning lawyer Allentown, PA, turns to can help you avoid spending money and time on expensive litigation.
Probate is public. Any documents submitted to the probate court become a matter of public record. Therefore the public can view what your heirs have inherited. You may desire privacy whether or not there were any disputes. Consider a trust if you value your privacy or have concerns about the public finding out about your estates’ assets and the estate’s value.
For an individual to contest a will, they must satisfy specific requirements. If the complaint does not have standing, the probate judge will likely throw it out of court. A costly mistake for the plaintiff. If the plaintiff properly petitions the court, then the judge can invalidate the questionable will. When successful, the judge discards the challenged will. If there are no other wills, then the estate is divided as if the deceased had no will. As a result, the probate court will rule on who should inherit which of the estate’s assets and in what amounts. It is, therefore, critically important for all adults to have a valid will in place. Update your will after significant life events occur. With the assistance of our estate planning lawyer Allentown, Pennsylvania clients need from Klenk Law; you can better ensure that your loved ones never have any cause to contest your will after you’re gone.
If you’re already in a position where you or someone else is considering contesting the will of someone who has passed away, a Philadelphia, PA estate planning lawyer can focus the claim. Here are potential claims:
Pennsylvania state law is very clear about how individuals must sign their last will. Even attorney-drafted wills are subject to challenge. It still may be vulnerable. An estate planning lawyer Allentown, PA accesses for support, can examine the document to determine if it appears to be valid.
Though a testator may have signed their will, this does not guarantee that they were of sound mind. Did they understand the contents and directions of the will? The law recognizes that mental or physical illness may confuse. The elderly and ill are subject to manipulation. An experienced estate planning lawyer Allentown, PA trusts, seeks out the proof needed from a doctor’s examination or other sources. We search for evidence that the testator lacked the necessary capacity. Conversely, an attorney may be able to help prove that the contents of a will reflected the wishes of the deceased.
Many people know they need to prepare for the end of their life. Thinking about your own mortality is a hard thing to do, but it’s essential, so you don’t leave your loved ones with a mess after you’re gone.
However, it can be confusing trying to determine which documents you need and which you don’t. Addressing all your needs can become complicated because some estate planning documents have similar names.
Many people are referring to a will when they say they want an estate plan. But what is a will?
Our estate planning lawyer Allentown, PA, knows that a last will is a legal document that allows you the power to say who receives assets upon your death. It also allows you the opportunity to discuss how to deal with liabilities after your death.
This document gives you great control over the distribution of your personal items. For example, if your son enjoys your coin collection or your daughter enjoys your collection of crystal glasses. A will allows you the opportunity to give specific items to specific heirs.
But it’s also essential that you include the full names of the people to whom you want to leave specific items. An estate planning lawyer Allentown, PA, trusts will tell you that merely saying that you want to go an item to your daughter may not be sufficient.
A living will is another component of a complete estate plan. But it is very different from the last will.
A living will does not discuss how to distribute your assets. Instead, a living will spells out what steps you want to be taken, or not, during your end of life care.
You complete your living will by making certain decisions within the document. To understand these options, contact an estate planning lawyer Allentown; PA residents are reliant upon. Doing this allows doctors and your family to know what you want to happen. They cannot ask you once you are unable to speak for yourself.
A living will might be the least pleasant documents to discuss with your Philadelphia estate planning lawyer. But it’s also one of the most important.
You need more than just these two documents to have a full estate plan. Visiting Klenk Law will give you the guidance you need to ensure your loved ones don’t inherit a mess. Instead, put your things in order.
By working with a team of experienced estate planning lawyers Allentown, PA residents can count on. You take the guesswork out of your estate plan. You don’t want to leave your heirs with a mess. Speak with someone you can trust. Settling your affairs before you’re gone is a complex and cumbersome process. You shouldn’t trust this to just anyone. You’ve worked hard your entire life – don’t skimp at the end.
Completing your estate plan is a crucial step to take, and you shouldn’t try to handle it alone. You deserve the skilled and trusted advice of our estate planning lawyer Allentown, PA residents trust. We can provide you the guidance you need with the compassion you deserve.
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 when in need. At Klenk Law, we listen to your needs and utilize useful estate planning tools. We protect your assets. We strive to minimize costs and meet your objectives. If you would like to talk with an estate planning lawyer Allentown, PA clients recommend, please call our office now.
Although people do not like to think about their mortality, the reality of life is that it will end one day. Our estate planning lawyer Allentown, PA residents respect, shares that this is a primary reason for ensuring that your estate plan is complete. Map out your wishes. Feel comfortable that you have taken care of your family.
A Fidelity Investments study revealed that many adult children and their parents avoid estate planning discussions. You should discuss topics such as retirement finances, elderly care, and will and inheritance issues. But many people delay these matters. In fact, the study found four out of 10 families never address the issue.
The Intra-Family Generational Finance Study surveyed parents 55 years or older with an adult child of 30 years or older. The parents had a minimum of $100,000 in investable assets. The participating adult children had a minimum of $10,000 saved in an IRA, 401(k) or other retirement accounts.
Despite the high amount of families who have not broached the subject, 75 percent of participants said it is important to discuss finances. However, an estate planning lawyer Allentown, PA trusts, shares that when these conversations should take place was a source of disagreement among parents and children. Over 60 percent of parents and children disagreed on the timing. Parents think it is better to wait until after they retire, but their adult children want to decide these matters well before their parents’ retirement or medical problems become an issue.
Our estate planning lawyer Allentown, PA, depends on knows that as complicated as the topic may be, it is essential for families to plan ahead before the time comes. If you and your family have had difficulties making plans for the future, consider contacting an estate planning lawyer Allentown, PA relies on. We can help guide you through planning. We can help you decide which options are the ones that are the best for you.
If you are concerned with the future of your estate and what could happen to those inherited funds, contact an experienced estate planning lawyer at Klenk Law. Find out what kinds of options you may have.
Our estate planning lawyer Allentown, PA, trusts can discuss all the different estate planning tools. We can help you make sure your family is taken care of when you are no longer here. In addition to wills, many of our clients also establish one or more of the many types of trusts. Several trust options are available under state and federal laws. We can also show you how your estate can avoid probate.
Call our experienced estate planning lawyer Allentown, PA can count on from Klenk Law to find out how we can help.
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 and his associates made things easy for us.
Great firm. Great people. Happy to refer folks in need to estate planning to Peter and his team. They do great work.
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.
Answered my question quickly and referred me to a colleague that could handle my problem