Estate and Trust Planning Attorneys

As we grow older, we hope to leave meaningful and valued items to our children and grandchildren. While not always a comfortable topic to discuss with family members, it is crucial that you discuss your desires with your loved ones. Not discussing these issues will only create more issues later on.

No matter the size of your estate, it is important that you draft a complete estate plan that protects yourself and your family’s future. At Wetzel Gagliardi Fetter Lavin LLC, our estate planning attorneys believe that estate planning should be tailored to your specific needs. This approach allows us to look at your entire financial and personal picture to help you plan for long-term care arrangements and for the distribution of estate assets.

Estate Planning

Estate planning is most often thought of as documents that handle the disposition of your property once you have died, such as a will and trust. However, a complete estate plan will include “living documents” as well. Pre-mortem estate planning includes drafting a medical power of attorney, durable power of attorney, and a living will/advance directive. These legal documents establish who will make medical and financial decisions if you are unable to do so, as well as who you will designate to speak on your behalf regarding your end-of-life care.

Trust Planning

In creating a trust, you will appoint a trustee to manage the assets. Trusts can serve various purposes, such as removing assets from your taxable estate, controlling how wealth is distributed, or protecting assets from probate. You will want to let your estate planning attorney know your planning goals so that you create a trust that is right for you.

Guardianship/Conservatorship Litigation

If you can no longer make important medical decisions and/or financial decisions, the court may appoint a guardian and/or conservator to handle your affairs. However, the fiduciary appointment requires that the court deem the adult incapacitated. Under Pennsylvania law, an incapacitated person is defined as an “adult whose ability to receive and evaluate information effectively and communicate decisions” is impaired.

The court will appoint a family member to have control, care, and custody over the incapacitated adult. Having this type of responsibility over a family member can be overwhelming. As estate planning attorneys, we provide guidance to family members who are acting in this fiduciary capacity.

Tax Planning

We all want to leave as much as possible to our children. With adequate planning, you may be able to avoid the federal estate tax, but you will most likely be subject to an inheritance tax. It is important that you disclose any transfers to heirs and beneficiaries with an experienced estate planning attorney.

The executor of your estate (known as a “personal representative”) will be responsible for filing an inheritance tax return within nine months of your death.

Speak with a Dedicated Estate Planning Attorney

As estate planning attorneys, we are dedicated to helping clients plan for their golden years and beyond. Whether you are interested in updating or drafting a new estate plan, learning about long-term care options, or would like to focus on minimizing your tax liability, we can help. To schedule your consultation, contact us online or by phone today.