Why Estate Planning Matters at Every Stage of Life

Estate plans aren’t just for the wealthy or elderly. Though they become more critical for protecting your assets from medical liens as you age, estate planning is for everyone in Carlisle.

Prepare for the future, potentially save on taxes, and secure your family’s peace of mind by scheduling a consultation with the experienced estate planning lawyers at Mette Law serving Carlisle, PA. Call 717-232-5000 or contact us online today.

What is an Estate?

‘Estate’ is the legal term used to refer to your assets and liabilities. Even students can have small estates, including their college funds and loans, but most estates include the following:

• Homes
• Bank accounts
• Investments
• Retirement funds
• Trusts and inheritances
• Pets
• Jewelry
• Collectibles
• Vehicles
• Family heirlooms

Without an estate plan, these items pass according to Pennsylvania intestate laws. This means if a young man gets into a fatal car accident, his fiancée will receive nothing from his estate to secure her future. She would also have no right to make medical decisions on his behalf. Instead, all assets and legal authority would pass to his parents. This is why everyone, at every age, needs an estate plan.

What Happens at an Estate Planning Consultation?

Instead of generic websites offering these services, our local estate planning lawyers sit down with you to discuss and create a customized estate plan. This means listening to your needs and executing legal documents to protect your future. Most estate plans include the following:

Executing a Will

Having a will is often the first step in the estate planning process. This legal document overrides Pennsylvania intestate laws and ensures your assets are distributed according to your wishes upon death. Even if you’re married, you need a will. Without one, your parents are also entitled to a portion of your estate in PA. You can also set forth your wishes for child custody and pet care in the event of your unexpected passing.

Opening Trusts

Trust funds, including those for charity or a child you’re expecting, may have significant tax benefits. You can even retain control over the money in trust while protecting it from creditors. Pennsylvania recognizes numerous trust funds, and an attorney can recommend the best fund and structure for your assets.

Powers of Attorney

These documents, valuable for individuals and businesses, give another person legal authority to act on your behalf. They may be limited, such as permitting someone to execute a real estate closing or broad. Our lawyers often recommend executing the power of attorney if you’re being deployed.

Health Care Proxy

Also called a ‘durable health care power of attorney’, this document gives another person the right to make specific healthcare decisions on your behalf in the event of incapacitation. Accidents happen to everyone, and you want the right person on your side to make critical medical calls.

Though not every Carlisle family needs every document, our dedicated estate planning lawyer can customize an estate plan for you.

Call Our Estate Planning Attorneys Today

Creating an estate plan can protect your family from legal hardship and confusion in the event of your incapacitation or death. It can also have certain tax benefits. Schedule your first estate planning consultation with our Carlisle estate and wills lawyers today by calling 717-232-5000 or connecting with us online.