Planning for the Future

Estate planning is an essential part of planning for the future and future generations. A sound estate plan is not reserved for the wealthy, but rather benefits people of all social and economic classes. Sound estate plans include retirement provisions, directives for healthcare, creation of trusts for wealth preservation, formulating a last will, giving power to another to act on your behalf should you become unable to do so and a variety of other related issues. All of these provide peace of mind.

Consulting with a skilled estate planning attorney ensures critical documents are properly prepared. You may wish to place all of your property in a trust and avoid the necessity of probate. Still yet, you may want to draft a will that contains instructions for disposition of assets. Also of importance are documents relating to your final medical care and medical wishes. A healthcare directive can help ease the pain family members feel when trying to decide what type of care you would want and whether you desire extraordinary medical measures be taken. Common estate planning tools include:

• An inventory of assets, so a complete will or trust can be drafted
• A complete list of health and life insurance policy information, so your family knows who to call for benefits
• Solid investment of funds for retirement

Also of significance is a power of attorney. This document is used to allow another person to make legal decisions on your behalf. To be valid the document must be in writing and signed by the person giving the power of attorney to another. This is a powerful tool, and the decision as to who to appoint as your power of attorney is an important one. Qualified estate planning attorneys have the knowledge necessary to explain the effect of creating a power of attorney and what you can expect once the document becomes effective

For a thorough explanation of all the documents involved in estate planning, call Platt, DiGiorgio & DiFabio for more information. Our Pennsylvania estate planning attorneys provide a free consultation, where we talk to you to get a clear understanding of your needs and desires. The estate plan we develop for you is one that fits your needs and meets your objectives.