Bellomo & Associates, LLC

LANCASTER ESTATE PLANNING

When the term “estate planning” is used, most people think of wills.  In reality, there is much more to estate planning than merely a Last Will and Testament.  Your will is a cornerstone of your estate plan yet much more is necessary.

Guardianship

Do you have a loved one who is going senile, struggling with Alzheimer’s or dementia?  If so, you are not alone.  Countless families are challenged with figuring out the best way to care for a relative who is losing his or her mental faculties.  In the context of estate planning, the answer is elderly guardianship.  A guardianship is a legal relationship established when the court appoints a person to care for the senior citizen in question who is no longer of caring for him or herself.  Our Lancaster estate planning team is here to make a convincing argument that you or another loved one will be a responsible guardian.  Once the guardianship is in place, you will enjoy an invaluable peace of mind, knowing your loved one has someone intelligent and caring available to help.

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Power of Attorney

Every caregiver and senior citizen should understand the importance of the Power of Attorney.  There will come a day when you and your loved ones will not be able to make sound decisions.  The mind, just like the body, gradually declines across the aging process.  Assistance is necessary for such situations.  Our estate planning team is here to craft a bulletproof Power of Attorney.

Financial Power of Attorney is a legal tool that allows the senior citizen to select someone to act in their place if unable to manage their finances.  General Power of Attorney is applicable for other important life decisions.  Meet with our attorneys so you don’t have to go to court in an attempt to handle your loved one’s financial matters, medical decisions, etc.

Wills

A will is an absolute necessity for every adult in Lancaster and beyond.   Do not assume a will template downloaded from the web will suffice.  Our estate planning experts are here to craft a will that ensures your wishes are carried out upon death.  Whether you would like a particular piece of real estate to go to a specific family member or if you would like to bequeath financial assets, we will detail these desires in your will to ensure your property is properly distributed.  Whether you merely own a vehicle, are a wealthy Lancaster business owner or are simply concerned about the long-term care of one of your beneficiaries, you need a will.

Trusts

There are some estate planning situations in which it makes sense to establish a trust in addition to your will.  Instead of selecting someone or several people to inherit your belongings, it might make more sense to establish a more complex plan for your property.  As an example, our Lancaster attorneys have helped clients leave homes and other items in trusts to a spouse until that person passes away, whereupon the item(s) in question is passed on to offspring.  Perhaps you would like to establish a trust to distribute funds in an incremental fashion or in a lump sum to loved ones at a specific point in time in the future.  Our legal team is here to help you minimize tax exposure and ensure your money/property is distributed exactly as desired.

Medicare and Medicaid

Lancaster seniors find it is increasingly difficult to pay for the cost of ongoing care in the later years of life.  Help is available in the form of Medicaid and Medicare.  However, it might make sense to complete a spend-down plan before enrolling in a public health insurance program or entering a nursing home.  Our estate planning legal team is here to develop the perfect strategy to help you.