Wills and Trusts Attorneys Pittsburgh, PA
Helping you plan for the inevitable
People often procrastinate about developing a will. The truth is that a well-written will gives you peace of mind because you know that your wealth will eventually be distributed to loved ones and your favorite charities if you so choose. If you die without a will, Pennsylvania intestate law determines who gets your hard-earned assets. If you don’t include a will in an overall estate plan, Pennsylvania and federal law determines how much taxes they take and how to disburse the leftovers. Without an estate plan and a will, you cannot control and preserve your wealth for the benefit of those you love. Fingeret Law can help protect your family with a comprehensive will.
How our attorneys prepare your will
When you meet with an attorney at Fingeret Law in Pittsburgh to prepare a will, you are asked to provide information about:
- Your stocks, bonds and other investments
- Your real estate holdings
- Your personal property
- Specific items you desire to give to named individuals
- Proposed guardians to care for your children
- Intended beneficiaries
- The names of your spouse, child(ren) and other family members
- Those who you would not want to inherit your assets
- Trusted individuals you want to administer your estate
- Whether you desire to amend an existing will (with a codicil) or prepare a new will to replace an existing will
At Fingeret Law, we don’t just fill out a form; we craft wills to meet your specific needs. We provide personal attention to you and your family regardless of the size of your estate.
Using trusts to minimize taxes means maximizing assets for your family’s future
A trust is a legal relationship in which one party (known as the trustee) holds money or property for the benefit of a beneficiary. Most often the beneficiary is another party, but in certain cases the beneficiary and the trustee can be one and the same. At Fingeret Law, we use a variety of different trusts to serve our clients’ needs, including:
- Revocable (living) trust – typically used as a will substitute and to consolidate assets for management by the trustee
- Irrevocable life insurance trust — avoids estate taxes on proceeds of life insurance
- Irrevocable Income Only trust — typically used in connection with applying for Medicaid and veterans benefits
- Irrevocable gift trust — money gifted here is not considered taxable
- Charitable lead trust — a beneficiary’s taxable income is reduced if part of the trust’s income is donated to charity; the remainder may then be transferred to beneficiaries after a period of time elapses
- Charitable remainder trust — avoids capital gains taxes on donated property; the donor can continue to use the property while alive; beneficiaries receive income for a period of time following the donor’s death and the charity eventually gets the principal
- Grantor retained annuity trust — financial tool that enables loved ones to receive large monetary gifts that are not subject to federal gift taxes.
Let us help you plan for the future
To discuss your specific needs with a wills and trusts attorney in Pittsburgh, please call us at Fingeret Law at 412-254-8533 or contact us online. We have served the Greater Pittsburgh community for more than 40 years in the practice areas of elder law, probate and probate litigation. We travel to clients.