Berman & Asbel, LLP We offer quality legal services with a personal touch.
Call For a Free Initial Consultation

Estate planning: More than just distributing assets

Some people in Pennsylvania might think they do not need an estate plan because they are wealthy. However, an estate plan is not just about distributing wealth, and most adults could benefit from one. One important aspect of an estate plan is preparing for incapacity or for having to go to a nursing home.

With long-term care insurance, a person may be able to avoid spending all of their assets on a nursing home. Setting up a power of attorney and appointing someone to make health care decisions are also important tasks. A single person might have power of attorney, or it can be split between two people such as two children or a child and an attorney. One may also want to create a document that specifies their wishes for end-of-life care.

A person might also want to consider using a trust to pass assets on to beneficiaries rather than a will. With a trust, the transfer of assets is not delayed in probate. Depending on how complex an estate is and the family dynamics, a will might be in probate for a long time.

Family dynamics are an important consideration in estate planning. For example, on may want to avoid appointing a child as trustee or executor who will find it difficult to cope with any conflict that arises. If a person wants to disinherit a child, it might be necessary to specifically mention this in the will. Discussing estate plans with family members ahead of time may mean challenges are less likely. A trust can also be set up to both provide for beneficiaries and pass assets on to a charity. A person might want to discuss their needs with an attorney and find out what vehicles may be available.

No Comments

Leave a comment
Comment Information
Contact Us Today

Contact Us Now For A Free Initial Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Berman & Asbel LLP
20 West Third Street
Media, PA 19063

Phone: 484-842-0276
Phone: 484-842-0276
Fax: 610-565-7083
Media Law Office Map

Review Us