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Estate Planning Lawyer Allentown, PA

The last thing most people want to think about is their death. Making plans for when we are no longer here, with our loved ones, can be a depressing topic. However, making sure you have solid estate plans in place is critical to ensuring that your family is taken care of and your last wishes are met. Instead of being depressing, knowing you have made arrangements for when you are no longer here can actually give you peace of mind.

The following are some of the most common estate planning mistakes that each estate planning lawyer from Klenk Law has seen that often result in major problems for families.

No Estate Plan

Unfortunately, more than half of the adults in this country do not have a will or any other estate planning tool in place. This means there is nothing in place that will protect their family or their finances when they die. Not only does not having an estate plan in place have a negative impact on what happens when a person dies, it can also have a negative impact when they are still alive if they should become incapacitated. Part of a solid estate plan is having legal documentation in place that addresses how financial and medical decisions should be handled in the event you become unable to make those decisions yourself.

Only Having a Will

Although having a last will and testament is critical, it should not be the only tool you have in place. Your Allentown, PA estate planning lawyer will go over all of the helpful options you may have, including setting up trusts, advanced medical directives, and power of attorney documents. These documents give you the final say on how your finances and health decisions should be made.

Picking the Wrong Trustee and/or Executor

When you set up your estate planning documents, you will need to choose people who will oversee your wishes. You will need to choose an executor for your will. This is the person who will make sure that the assets are distributed per your wishes and that debts are paid. This is done under the supervision of the probate court. You will also need to choose a trustee if you choose to set up a trust, as well as a healthcare power of attorney, and a financial power of attorney.

It is imperative that you choose individuals who will not only be qualified to handle these positions but will also adhere to whatever your wishes in these documents are. Although many people choose family members for these positions, this can sometimes cause issues within the family, especially if there are some family members who you have decided not to leave anything to. It is often better to choose a neutral party to oversee these duties.

Not Updating Your Estate Plans

Another mistake many people make is that the set up an estate plan but they never go back to update or change things when life events happen that demand these changes. Events such as marriages, divorce, births, and deaths often mean that beneficiaries need to be added or changed. An estate planning lawyer Allentown, PA clients respect can help you with those changes.

 

What Our clients are saying

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Brian M.

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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Alan Kaplan

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.

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A Google User

Peter is a model attorney who puts his clients first at all costs. His extensive expertise in estate planning and tax planning was a great comfort as we began, and have expanded, our family. He is very thoughtful, generous, and quick witted. His approach towards his business has been an inspiration to his peer group, and his zest for life is extremely infectious. Without reservation, I highly recommend Peter as trusted and cherished counsel

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Sharon S.

I contacted Peter through his website using the free consultation link for a question regarding a will. While I was expecting only a few minutes, it was a lengthy conversation. He made sure he understood the situation by asking many questions before offering advice. He then went through my options and results of each one. He left it up to me to decide if I wanted to proceed and did not push me toward one or another. His website has very useful information which I definitely researched before I called him. While I decided not to proceed at this time, I feel I had enough information to make that decision. I would not hesitate to hire him should I need to in the future.

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Brandon. L

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.

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