888-664-6222
- Carlisle:
26 West High Street
Carlisle, PA 17013 - West Shore:
635 North 12th Street, Suite 400
Lemoyne, PA 17043
The Need for Wills
Serving Pennsylvania areas of Cumberland, York and Dauphin Counties, Carlisle, West Shore, Lemoyne, Harrisburg and Camp Hill
WHY HAVE A WILL?
No one likes to think about dying. Some people are superstitious about writing a will, thinking that the simple act of leaving legally binding written instructions about what happens in the event of death may cause death! We understand that the process of making a will can be difficult, but our caring and experienced attorneys are here to help.
A will is one of the best ways to ensure that your final wishes regarding a number of very important matters are carried out. It is one tool among many in the estate planning arsenal, and it is one of the documents that virtually every person should have. While many people think that the term “estate planning” only applies to complicated situations, the truth is that the process of making a will is an essential part of estate planning. For many people, a will, in conjunction with the appropriate powers of attorney and a living will, is all that is needed.
Without a Will . . .
If you die without a will, your estate will be settled by a person determined under the law. In the event of a dispute, expensive legal proceedings may be necessary before a person can be appointed personal representative (commonly called the executor) of your estate. Your assets will be distributed in accordance with the law, but that may not be in accordance with your wishes. You may lose the opportunity to save or defer inheritance and/or estate taxes.
As importantly, by failing to make a will, you are also failing to provide for a number of potentially important matters. These include appointing a personal representative (executor) of your choice and leaving specific instructions about what property you want to be distributed to which beneficiaries. Not having a will eliminates your opportunity to control naming the person to have care and custody of minor children (a guardian of the person), naming the person to manage assets for the benefit of minor children (which could be a custodian, guardian, or trustee, depending upon the particular situation) and making protective provisions for disabled beneficiaries.
Our experienced estate planning attorneys, in conjunction with writing your will, can provide valuable advice about estate and inheritance tax matters, the proper way to title assets, and the proper way to name primary and contingent beneficiaries of retirement accounts, life insurance policies, annuities, and similar assets.
What can I expect?
During your first visit, expect your attorney to review with you all important aspects of your situation. Expect a frank discussion about your intended beneficiaries, including a discussion of their strengths and weaknesses. Is a beneficiary a minor? Will he or she need to be protected? Is he or she fully capable of managing assets for his or her own benefit? If not, what options exist to protect your beneficiary?
At an initial estate planning meeting, expect to discuss your assets and their worth, how those assets are titled, and whether you have named beneficiaries for one or more of your assets.
Other documents to be discussed in connection with the preparation of a will may include durable powers of attorney to manage finances and property, durable powers of attorney to make health care decisions, and living wills, also known as advanced directives for health care. Your situation may call for a discussion about trusts, including revocable living trusts and various types of irrevocable trusts. More sophisticated or complicated situations may also involve premarital agreements, post-marital agreements, buy-sell agreements, family limited partnerships and other types of documents and arrangements, such as business succession planning.
After an initial visit, you attorney is usually prepared to draft your will and any other necessary documents. These drafts will be sent to you for review, together with a detailed letter explaining the will and other documents. Generally, you will meet with your attorney one more time, to review the will and any other needed documents, and to sign them. More complicated situations may require several meetings.
We are here to help
Our attorneys are also here to help families settle estates, defend wills and trusts that are contested, and to assist in the resolution of disputes that may arise in connection with the administration of an estate or trust.
If something terrible were to happen to you, we want to help you make sure that your assets, your property, and your family are taken care of exactly the way you want. We can help you make the right decisions for you and your family.
If you would like to learn more about why wills are important for everyone and how our experienced attorneys can help you develop your will, please contact Saidis, Sullivan & Rogers today to schedule an initial consultation.
