One of the smartest things you can do for your assets, estate, and your family is make a will. This ensures that you still take care of your family and loved ones even after you are gone and that your assets are divided up and someone will care for them. However, not everything should be put into a will. In some cases, it is possible to over-detail a will and place items in it that you do not have the authority to give out after you pass away. So, before starting on writing your will, first determine what is and is not yours to put in it. One of the best ways you can do this is by sitting down with a living will lawyer in Philadelphia, PA.
Although you are not required to retain a lawyer when you write a will to make it legal, they can be a great asset when it comes to determining what is appropriate to place in your will and what you should leave out. For a quick checklist of items to leave out of your will, read below.
Although you may have certain instructions regarding the flower arrangements, the music, or the people who speak at your funeral, in many instances a court will not even start settling your estate until after your funeral. This can become complicated when your funeral is one of the first things to happen after someone passes away. This means that your funeral wishes could go completely unnoticed. Instead, speak with your executor or your loved ones, and even write up a separate document outlining how you would like your funeral to proceed.
While a will is a place for you to specify what you want to happen to your estate, there are certain types of property that have rules governing them completely independent of your will, as a living will lawyer in Philadelphia, PA can explain. These are:
Leaving gifts to beneficiaries is a nice way of showing your loved ones how you cared for them. However, when you leave a loved one a gift with strict conditions—such as, they can only get this gift if they divorce their spouse or change religions—a court will not uphold those types of specifications.
Digital assets are one of the most overlooked assets. As a living will lawyer in Philadelphia, PA can attest. Many people use online services to store important documents and other information. The old way of keeping hard copies in file cabinets is gone. You may also have multiple social media accounts and email accounts. These items are all considered digital assets. If they are important to you, include them in your estate plan.
There may be other items that are considered digital assets. A living will lawyer in Philadelphia, PA can help determine what those assets. Periodic updates are needed. Technology rules are ever-evolving. It is important to consult a seasoned estate attorney. We keep versed in current estate planning laws.
Laws Differ as your Move.
Some states have passed laws which address how these assets should be handled. These include granting estate representatives the authority to access accounts. Consider including your email, social media, or other online and digital asset accounts. More and more people choose to conduct their business online. Examples include paying bills, banking, etc. When financial work is online executors have difficulty performing their fiduciary duties. If they cannot access any of the online information, they cannot easily secure assets and statements. After reviewing your situation, our living will lawyer in Philadelphia, PA may suggest creating a list of all online accounts. We can then give this to your executor at death.
On a more personal, not financial, level, it is also important for families and loved ones to be able to access family photos and videos. These are often stored online. Otherwise lost forever are precious mementos. Making sure that you have an estate plan in place which includes instructions for your digital assets.
Writing a will can become complicated. Especially if you are not sure what is or isn’t appropriate to put in it. Therefore, it can be incredibly beneficial to have a living will lawyer in Philadelphia, PA by your side. Ensure you leave nothing out and that you do not put anything in that should not be there. For more information, call a Philadelphia, PA living will lawyer at Klenk Law 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...
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Great friendly staff
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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.
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Always professional and very responsive. Everyone on the staff that I have worked with. I look forward to continuing our relationship.
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Peter and his associates made things easy for us.