Estate Planning can sometimes seem like a complicated and confusing process, but it certainly doesn’t have to be. However, there certainly are a few very important things that you need to keep in mind.
THE DO’S OF ESTATE PLANNING
● Make sure your estate plan is flexible. Estate laws are constantly changing and you need a plan that can easily adapt to such changes.
● Make sure you have a Last Will and Testament. Even if you have a trust as part of your estate plan, you should still have a well drafted Will as well.
● Determine whether or not having a Trust will provide your family with additional security and peace of mind.
● Explore whether or not charitable donations should be a part of your estate planning.
THE DON’TS OF ESTATE PLANNING
● Don’t assume that current estate tax breaks will always be in place. These laws are constantly changing and being reshaped.
● Never make changes to your estate plan without consulting your attorney. Making changes on your own can lead to catastrophic legal problems later on.
● Make sure your estate plan addresses what would happen in the event that you outlive your intended primary beneficiaries. Remember, it’s always good to have a backup plan in place.
American Wills & Estates is a locally founded, owned and operated law firm that has been guiding clients in Pittsburgh and throughout Western Pennsylvania through the Estate Planning and Probate Estate Administration process with competency, compassion and care for over 25 years. If you’ve been procrastination about getting an estate plan in place or making important updates and changes to your existing plan, stop.
We provide the majority of our law firm’s Estate Planning services on a flat fee basis and provide all of our prospective clients with a comprehensive free legal consultation. Read our client reviews, visit our law firm online and give us call us today at (412) 381-7370 to schedule you free legal consultation. You’ll be glad you did!