If you need help with your will or trust, call us today.
Wills and trusts are two essential elements of estate planning and can help your family distribute your wealth and assets after you’re gone. The team at Bellomo & Associates, LLC, located in York, PA, has plenty of experience working with the various types of estates to determine which kinds of wills and trusts you need to put in place.
Make sure that your family honors your wishes by leaving airtight wills and trusts.
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What Are Wills and Trusts?
Your Last Will and Testament establishes what will happen after you die. You can also have a Living Will, which goes into place when you’re still alive but without the ability to make decisions about your estate for yourself. Wills allocate assets and any financial means to loved ones, sometimes not evenly, which is why they are so critical.
Trusts are an excellent way to avoid probate after you pass on and can help protect your estate from creditors, taxes, or even long-term care costs. All trusts, like all wills, are different, so you need an excellent legal team in your corner to draft one properly.
Updating Your Will Properly
Over the course of your life, you will want to update your will. Simply put, sometimes people will fall out of your life, and new ones will enter. Children may require additional assets, or new grandchildren could enter the picture. Whatever the case may be, it’s an excellent plan to revisit your will regularly. At Bellomo & Associates, LLC, we suggest that you review your wills and trusts roughly every five years.
To update your will, you need to be of sound body and mind. You must also not be under the influence of another person. It should be very clear that you are making decisions of your own accord and knowing precisely what you are doing.
Elements That Your Will Needs to Contain
Your Last Will and Testament is the final document that your loved ones will review after you pass or if you become mentally unfit to handle your affairs. Each one is different, but they all contain some version of the following elements.
- Instructions for who gets what assets and when they get them
- Information regarding what to do with minor children or pets
- Who will be the executor or executors of the estate
- How the trust will function, and if it will allocate money out to your beneficiaries in one lump sum or over time
- Any charities that you wish to donate to
Your will could contain other elements and be more complicated, especially if you have substantial assets or wealth. It’s essential that you put together a very clear Last Will and Testament so that your family follows your wishes after you pass on, and so that familial infighting is minimized.
Contact Bellomo & Associates, LLC Today
At Bellomo & Associates, LLC, in York, PA, we work with elder law and estate planning and can help you put together a Last Will and Testament, Living Will, or trust. We will work with you to determine a logical and actionable plan for asset distribution after you pass on or become mentally unfit to distribute your estate or assets. Don’t put off estate planning for another minute. Protect your family today by calling us 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.