Planning for your estate is a gift to your loved ones
Organizing your assets and debts and planning your estate is a kindness to your family and heirs. You can feel confident knowing that you have eased their grief after you are gone by leaving clear instructions for the disposition of your interests, large or small.
Are you confident that your family’s estate plan is in order? Find out how prepared you are.
Planning for your future is a rewarding and empowering endeavor. You may secure succession for your business, make gifts to loved ones, divide assets with a spouse or partner and create documents that will ensure your wishes are honored. We can help you achieve your goals for the future.
Everyone can benefit from having a will, regardless of the size of the estate. A will can provide for the distribution of your assets, in an orderly manner and in the way you desire, when you are no longer available to speak. A will is a kindness to those who survive you and helps your survivors through the grief process.
A living will, also called an advance health care directive, allows you to select the level and amount of physical care you may receive, if you are in an accident or become suddenly ill. You may also name someone to act and speak for you, called a surrogate, if you are no longer able to speak for yourself.
Powers of Attorney
Recent events around the world and in our own region remind us that our lives can change dramatically in an instant through a natural or man-made disaster. One source of security in an uncertain world is having a power of attorney. You can ensure that, if disaster strikes, a trusted agent of your choice will properly safeguard your affairs.
One of the pleasures of adulthood is making gifts to our loved ones. By gifting during our lifetimes, we can observe and share in the recipient’s gratitude upon receipt. Many people remember the gift amount in the late ‘90s of $10,000 per person, but some may not be aware that this amount is now $15,000.
We all know the old expression; “You can’t take it with you!” But, not all of us realize that the old expression is not completely true, if you take the time to prepare a trust. A trust can direct who will receive your property during your lifetime or after your death. A trust can also direct that one person or institution receive the income from your property and another, different person receive the property itself. Call Zulick Law today to find out how you can take it with you!
Print media and internet ads have long announced significant savings of probate fees and additional privacy through the use of revocable trusts. Don’t be fooled! Revocable trusts (trusts you can change while you are alive) are subject to probate, just as property distributed under a will. The good news, however, is that probate costs in Pennsylvania are among the lowest in the country.
Many of us work hard all our lives to create a family business or grow an existing family business. Fewer of us take the time to ensure that the business continues in the way we would like, after we are no longer as actively involved. Succession planning is available to ensure that your business plan is carried out. Call Zulick Law today to find out how to protect your hard-earned business!