Klenk Law knows all too well that putting together a will can feel like a daunting process for many people. Make the process more comfortable with the help of an estate lawyer Allentown; PA relies on. Putting off a will can have a significant impact on your loved ones in the event you pass away before you are able to create one. Most people do not want to leave their loved ones with such a burden during a time that is sure to be filled with grief. Not to mention the fact that if you leave children behind there may be no plan in place for where they will go. Here are some tips to keep in mind when creating your will:
Although there are a variety of different ways to put together a will, using a PA estate lawyer is always an attractive option. An estate lawyer can ensure that yours will adhere to the laws within your state. They can also create a will that is unique to your specific situation. It can be less expensive and often more appealing option to go with an online tool to create your will. However, it does not take into account laws within your state. In some cases, you may risk invalidating all or a portion of your will.
Beneficiaries are people who will inherit your assets when you pass away. It’s important to stay up-to-date regarding your beneficiaries. An estate lawyer in Allentown, PA can help you to include and manage the beneficiaries you have listed in your will. We can help craft a will to provide your heirs with maximum protection from divorce, creditors, or to qualify them for needs-based government benefits. You lose these benefits by using any payable on death (POD).
Take an inventory of all your assets so that you can explicitly list them out when you meet with a PA estate lawyer. Consider everything that you own and ensure that you have a plan for it. You will also want to make sure that jointly owned property has both you and your spouse’s names on it. Joint ownership may include bank accounts as well as property. Plans differ depending on your assets. The program for a substantial IRA or 401k is very different from a program for a person with several parcels of rental real estate.
Always make sure that you have a plan for what will happen to your children if they are minors. You will want to have someone identified to take guardianship in the event of your passing. Doing so may eliminate familial conflict or confusion. It may also prevent family members from fighting over your children. You will also want to make sure that you have a plan financially for how they will be cared for.
In most cases, you may want to identify both a guardian and a trustee. Before doing so, speak with the person you have appointed as guardian to make sure that they are up for the task. In case there are changes, it is also recommended to identify someone to take their place if needed.
Don’t just create it and forget it; make sure that you review your will on a regular basis. As you move throughout your life, it’s normal for changes to occur. You may have a change in your financial situation, your marriage, or someone you identified as a guardian, or, your beneficiary or executor may pass away. Reviewing your will every year can prompt you to make any changes needed to prevent confusion down the road.
The reality is, creating a will doesn’t have to be as terrible as it’s made out to be. Let our people help you with putting together a will, The process can go quickly and smoothly with an estate lawyer Allentown PA trusts to make certain your will is created how you want. Contact Klenk Law to ensure your final wishes are stated so that your loved ones have a clear picture of how you would like your estate managed.
Very knowledgeable! Peter Klenk always has a thorough answer, and the associates have more experience than you'll find at most firms. They really only do estate work.
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!
Mr. Klenk has been easy to work with. I am confident he has given me good advice whenever I have called upon him. He has shown good work ethic and depth of knowledge in preparation of estate, wills, and trusts that I have worked with him on.
Peter Klenk & Associates is my go-to firm for estate planning and advice in probate and estate administration. Peter and his attorneys are top-notch and exceptionally responsive. Peter has the knack of being able to explain extremely complex tax and estate planning issues in a manner that clients are easily able to understand and comprehend allowing them to confidently make important decisions.
Peter has done our family's trust and estate work since our children were born. He is not only extremely knowledgeable and honest, but makes sure that our arrangements remain current with the changing legal landscape. I would give him my highest recommendation as a professional in his field.