Establishing A Strong Foundation For Your Estate Plan
A will is very often the foundation of an estate plan. It allows you to dictate both your wishes for your estate and your intentions for the distribution of your property and assets. Creating a strong will can help your family understand what you want when you are no longer able to tell them yourself.
I am attorney James S. Vergotz. For nearly four decades, I have assisted individuals and families across Pittsburgh and western Pennsylvania in planning their estates to achieve their unique goals. I have also assisted in situations where an individual has died without a will. In such cases, the family members must administer their final affairs according to the state of Pennsylvania.
Why Create A Will?
There are many incentives for creating a will. Beyond the main benefit of choosing the fate of your property, other benefits to creating a will include:
Establishing guardianships. It is vital for new or young parents to establish guardianships for young children. If you were to suffer a premature death, minor children would be automatically placed in the care of their designated guardian upon the discovery of your will.
Avoiding a stressful probate process. While a will may not prevent your estate from passing through the probate process, the presence of a last will and testament can hasten the process by having your beneficiaries and the division of property specified.
Minimizing estate taxes. Planning your estate allows you to consider the taxes that your estate may incur upon your death. Forward-thinking and gifting assets in advance, among other strategies, can help minimize estate taxes and ensure your loved ones receive what you had intended.
Retaining control over your property. When there is no will after a death, the state of Pennsylvania typically distributes property according to traditionally-close familial relationships. This can go directly against what you would have wanted to happen. A will allows you to dictate your final wishes according to your terms and relationships, rather than what the state perceives those relationships to be.
Speak With An Experienced Estate Planning Lawyer
The future can be uncertain. Establishing your estate plan can give you peace of mind and help protect your family. I can assist throughout the process to ensure that you are being thorough and cover everything you need to for a detailed estate plan.
Don’t wait until it’s too late. Contact my office to begin planning your estate by calling me at 412-366-0510 or by sending me an email. I offer flexible scheduling such as weekend appointments by request.
