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.
Peter provided outstanding advice and preparation of a will and trusts.
Great friendly staff
I've worked with and known Peter Klenk and his associates for years. They are highly professional, diligent and truly experts in their field. By focusing on just wills, trusts, and estates, Klenk law has experienced every angle of estate planning and applied that knowledge to help prepare our clients with thorough and comprehensive documents.
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.
Professional, cheerful, thorough and fast. Peter responded to my request for a consultation right away, and within just a few days my last will and living will were done. Rates are standard.