What does the future hold? Unfortunately, none of us have a definitive answer to this question. However, that doesn’t mean that we can’t start the planning process now. Only 32% of Americans currently have a will or estate planning documents that outline their last wishes and the division of their assets. Tragically, this means that over 65% of Americans will leave behind families who have to go through the time-intensive and costly probate process instead of being able to receive prompt closure. A skilled estate planning attorney in Lancaster, PA can guide you through the estate planning process and ensure that your wishes are carried out.
When Should You Create an Estate Plan?
Life is filled with tragedies and surprises, and unfortunately many American adults put off estate planning until it’s too late. People at every stage of life, in every family situation and of every income level should meet with an estate planning attorney in Lancaster, PA. The legal documents that are created during the process help to outline where your assets will go, how things will be distributed and even critical things like who you would prefer to be a guardian for your children in the event of your passing.
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Bellomo & Associates, LLC wants to demystify and simplify the estate planning process so that you never need to stress about family disagreements over the division of property or money. Estate planning, when completed with an experienced estate planning attorney in Lancaster, PA, is designed to take a proactive approach to answer questions about your wishes before they are voiced. You have the power to prevent emotional arguments and disagreements in the future now. We are caring and compassionate, while still being thorough when outlining and formalizing your wishes.
What Documents Are Included in the Estate Planning Process?
We take a comprehensive approach and want to make sure you have recorded your wishes in all critical estate planning documents. Some of the most common documents created through working with an estate planning attorney in Lancaster, PA include:
- A Will or Trust: These documents help to outline how you would like your property and assets distributed. Depending on your financial situation, a trust might be more beneficial to help limit legal challenges or estate taxes. A lawyer can also ensure that your will or trust matches with other designations you have made. Naming your partner the beneficiary on your retirement account paperwork but naming your sister the beneficiary in your will could lead to a will contest.
- Durable Power of Attorney: This document grants an attorney or other trusted party to act on your behalf in the event that you are incapacitated or found to not be mentally competent. These documents grant authority for major decisions, like real estate transactions, financial transactions or legal decisions.
- Beneficiaries: All of your insurance policies and other accounts should have a beneficiary and a contingent beneficiary named on the account.
- Letter of Intent: This letter is left behind to the executor of your will or a beneficiary, and it can give more detail about how you would like your assets to be divided or include special requests for your funeral services.
- Healthcare Power of Attorney: This document designates who is able to make medical decisions on your behalf if you are incapacitated.
Who Is a Trusted Estate Planning Attorney in Lancaster, PA?
Bellomo & Associates, LLC is proud to be a trusted estate planning attorney in Lancaster, PA. We know how stressful and emotional the estate planning process can be, so we simplify the process and work hard to get your documents prepared in an efficient fashion. We are both thoughtful and effective. To schedule your initial consultation or learn more, call us today at (717) 845-5390.
Jeff provides pertinent, interesting, & necessary information in a way that captures his audience.
Jeff is knowledgeable in what he speaks about the law, and how it effects every day events- and how to go about taking necessary steps.
I dreaded the thought of estate planning and put it off for years. To my pleasant surprise, working with Bellomo & Associates was wonderful. The process was efficient, all of my questions were answered and the cost was reasonable.
Outstanding knowledge of estate planning with clear, concise communication. Who knew estate planning could be enjoyable?
I have been a client and personal friend of Jeff Bellomo for over 10 years. He is professional and his expertise in elder law is superb. I highly recommend anyone with any issues regarding elder law to seek his help. I guarantee you will be more than satisfied.