Estate Planning

Marshalll Parker & Associates - PA Elder Law, Estate Planning, Long Term Care Resource Center Elder Law Firm

Estate Planning

Some people think that "estate planning" is only of concern to the wealthy and involves tax loopholes that are used to pass huge piles of assets from one generation to another. But estate planning is not just for the rich. People of modest means can also benefit by carefully planning what will happen in the event of their incapacity or death.

Even if saving estate taxes is not a critical issue for you, the use of powers of attorney, wills, trusts, and other legal planning tools can help ensure that the things that you own, whatever their value, are protected during your lifetime and will be distributed at your death in the way that best cares for your family.

Incapacity planning, which should be part of your estate planning, involves legal tools such as powers of attorney and health care directives. These tools will help you retain control over your affairs during your lifetime.

With advance planning tools in place, the person making decisions for you in the event of your incapacity will be the person you chose and the decisions will be the ones you would have made yourself.

Planning in advance can greatly ease the burdens placed on your family. You can authorize someone to act for you in the event you are ill. Trusted family members can be given the power to preserve your assets from health care costs, so that your family financial security will be protected. Thinking about estate planning and incapacity planning isn't fun - but it is important - both for you and for your family.

Preparing for the possibility of your incapacity or death is one of the greatest gifts you can give to your family. Many people feel like a great weight has been lifted off them when their planning is complete.

Estate Planning is too important to do on your own. The issues and laws involved are complicated and everyone's situation is different. Seniors need help from a lawyer who is experienced in estate and elder law planning.

We can help you ensure that your family's financial security is protected during your lifetime and that the things that you own will get to the right people, in the right amounts, at the right times when you are gone.

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