Why Estate Planning Is Important For Everyone
Contrary to myth, an estate plan is not something that only wealthy individuals or people with children need to have. Every adult should have a plan in place in case of the death or incapacity. Your estate plan will give you the ability to express your health care wishes in case of incapacity and direct who will receive your property upon your death. Additionally, a proper plan may allow you to ensure that your property passes to the beneficiaries of your plan and possibly protect those assets from creditors.
If you do not take the time to make your own plan, the intestacy law of Pennsylvania will determine which family members receive your property, distributing assets in a way that may not be in line with your wishes. Careful, thoughtful and informed estate planning can prevent this unwanted outcome. Put your affairs in order efficiently and allow us to help you attain peace of mind.
Our Individualized Approach To Estate Planning
Our services include creation, review, revision and formalization of testamentary documents, such as the following:
- Last will and testament
- Powers of attorney
- Living wills
- Living trusts
- Advanced health care directives
- Succession planning for businesses
Miller & Miller is committed to educating our clients on their options and possibilities. We are interested in helping you create and implement a plan that will accurately express your wishes in legally binding ways. Our attorneys provide skilled, comprehensive guidance at every stage of the planning process and will work with you, your financial planners, your accountants, your employers and/or your family members. Our goal is to ensure that you can devise a plan that takes into account all relevant information.
We also assist clients through the process of probate and estate administration. Over the past 45 years, our attorneys have served multiple generations in families whose members entrusted their estate planning to us.
Your Priorities Are Ours, Too
Our firm does not recommend the same approach for every person or couple. We understand that asset portfolios, family structures and individual goals in estate planning are unique. For example, one client may place a high priority on leaving assets to charitable organizations. Another may be interested in a generation-skipping trust or a special needs trust for the benefit of a grandchild or an adult child with a disability. Another may be concerned about how to structure estate planning to include business interests or real estate property that is jointly owned by extended family members.
When we counsel you on your estate planning package, we will keep in mind your budget, priorities and expectations. We will also educate you on the most appropriate estate planning documents for your circumstances.
Our Estate Planning Philosophy In A Nutshell
We utilize an approach that is both holistic and practical. We aim to review the big picture and understand everything that could be an issue. At the same time, we do not want to develop a complicated plan that requires constant attention, maintenance or changes as years go by when it is not necessary. For most people, their estate plans, if thoughtfully prepared, will adequately serve their needs for a number of years.
When is it time to update or change your estate plan? For most people, this might be appropriate after marriages, births and/or divorces in the family and in case of business ownership changes.
Let’s Talk It Over
Our estate planning lawyers are eager to help you get started creating or updating a will and other estate planning documents. We enjoy helping clients prepare thoughtfully about the future – ideally, long before a will and powers of attorney are needed.