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.
Klenk Law is an exceptional practice. Their fine lawyers and staff team up to produce excellent results for their clients. They excel at explaining the often cryptic laws and policies that govern estate planning right down to the complexities of the various "trust" frameworks. Peter himself manages each client together with his great team, and he has a rare quality to be both a walking encyclopedia of planning minutia and also one of the most likable lawyers I have ever had the pleasure of dealing with. He is truly generous in intellect and in his personal approach to getting the "big picture" for complex family structures. I trust him implicitly to help me make the right choices for the future. In short, Klenk Law is a gem of a firm.
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.
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.
You & your staff are the best thank you for everything.
Peter and his associates made things easy for us.