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Wills and trusts allow you to plan for the transfer of property upon your death. It would be best if you didn’t wait until the last minute, though, to start planning your financial future. When people in York, PA, need a dependable and competent wills and trust attorney, they contact Bellomo & Associates.
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Our Personalized Service
At Bellomo & Associates, we work for you. We sit down with you and listen to your goals and dreams. Our wills and trusts attorneys find the optimal solution, regardless of your income level or family size.
We understand that wills and trusts are confusing to a lot of people. We take the time to walk you through different options and explain the pros and cons of each. One critical choice is whether or not you want a revocable trust.
Revocable trusts, sometimes called living trusts, let you distribute assets to your loved ones while retaining financial control. Irrevocable trusts don’t have that flexibility but are preferable if you want to reduce estate taxes. Our attorneys can help you determine if flexibility or permanence suits your objectives.
Since opening our law firm more than a decade ago, we have helped thousands of people across York, PA, create estate plans. We take pride in providing people with the individualized attention and service they deserve, from the initial meeting to document signing. See why our clients trust us by reading our customer reviews.
Protect Your Loved Ones
What is going to happen to your family when you die? Estate planning provides solace because you know that your assets will support them. Even if you’re not from an ultra-wealthy family, your inheritance can make a significant difference in your loved ones’ lives.
If you do not create a will or trust, the Pennsylvania court system will decide who gets what. This process can lead to a lot of disputes, attorney’s fees, and wasted time. The court also doesn’t know which of your heirs has been responsible and which ones you may prefer were disinherited.
Estate planning provides clarity and protects your loved ones financially. Shortening the probate process means more money can go to them instead of the courts and IRS. Check out our blog to learn more about the benefits of estate planning.
Pursue Philanthropic Goals
Many people grapple with their legacy when creating a will or trust. Charitable donations and other philanthropic endeavors provide a way to leave a positive impact on a cherished cause. It can also come with several benefits, including:
- Lower or eliminated capital gains tax on your assets
- Income tax deductions
- Lower estate taxes
- Feeling of altruism
At Bellomo & Associates, there are numerous ways to add philanthropy into your estate plan. The easiest option for a wills and trusts attorney is to name the charity as a beneficiary. If you want a more tax-savvy approach, leave your non-Roth IRA assets to the cause and other possessions to your loved ones.
There are two primary types of philanthropic estate plans: charitable lead trusts (CLT) and charitable remainder trusts (CRT). CRTs provide an annuity stream to the charity, and the remainder goes to the beneficiaries, while CLTs do the opposite. Check out our other practice areas to learn more about planning your financial future.
Contact Bellomo & Associates, LLC Today
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.