Helping Protect Your Financial Future
You do not need to amass vast wealth before you start to protect the money and property you’ve worked so hard to accrue. You want to ensure you and your heirs have a comprehensive estate plan in place to guard your assets from undue taxation and probate issues — and address your health care needs as well.
The components of an effective estate plan
Experienced attorneys for estate planning recognize that each individual has unique needs that can require any combination of the following elements:
- Wills provide a good starting point for helping ensure your loved ones receive their intended inheritance. However, probate and privacy issues may not always yield the results you want.
- Trusts typically address probate and privacy issues by moving assets out of your estate to a separate legal vehicle that you can still control.
- Financial powers of attorney allow you to identify an individual to make financial decisions for you in the event you cannot make decisions on your own.
- Living wills are legal documents that ensure medical practitioners follow your wishes regarding life-saving treatments if you become terminally ill or unable to express your wishes.
- Health care powers of attorney permit you to name a trusted individual to make medical decisions on your behalf in the event you cannot make or express these decisions on your own.
In a recent report, Kiplinger Personal Finance Magazine offered a series of articles explaining the Basics of Estate Planning. However, this information does not replace the personalized support you receive by retaining an experienced estate planning lawyer.
Managing your estate plan is an ongoing process
As life changes, your estate will change as well. You may choose to add or remove assets from existing trusts, name new beneficiaries as your family grows or identify different individuals to manage your financial or health care wishes. Your estate planning attorney should periodically help you review your existing plan for necessary changes. In the event of your death, he or she becomes a valuable resource who can represent your intended heirs through the probate process and generally comply with your final directions.
Seek skilled legal support to protect your elderly loved ones
The experienced estate planning attorneys at Fingeret Law have more than 40 years of experience helping the greater Pittsburgh community in the practice areas of estate planning and elder law. To discuss your specific needs and to find out how we can help you, please contact us today. We travel to clients.