An attorney who specializes in Pa Estate Planning can help you create a complete plan (including Pa Last Wills, Pa Powers of Attorney, and Pa Living Wills, etc.) to protect your spouse and children if you become unable to manage your financial affairs. Pa Estate Planning allows you to make decisions now so your wishes can be carried out if you die or become incapacitated.
Pa Powers of Attorney
When you execute a legal document called a power of attorney, you are authorizing another individual to make certain decisions on your behalf. The person who signs the document is called the principal and the person who is authorized to make decisions is known as the agent or attorney-in-fact.
A limited power of attorney restricts the permissible activities of the agent to a specific period of time. For instance, if you are in the military and are being deployed overseas for six months, you can set up a limited power of attorney with an individual you trust. That person may be granted access to your bank account so they can pay your mortgage or other monthly expenses while you are away from home.
A durable power of attorney, unlike other forms of this type of legal document, does not expire if the principal becomes incapacitated. The agent may continue to make financial and medical decisions as indicated in the original document.
Pa Living Wills
Living wills are also referred to as an advance directive or a health care directive. It is a legal document that communicates your desire in the treatment of serious medical problems in the event that you are unable to speak for yourself. They do not go into effect unless you are incapacitated and unable to express yourself. Having a living will can relieve your close relatives from the burden of having to make the decision about whether to remove you from life support.
Trusts are legal documents that allow you to control how your assets will be allocated or managed. You are considered the grantor and the person that manages and distributes assets in the trust is known as the trustee. Individuals who receive money or other assets are the beneficiaries.
Property placed in a trust, unlike wills, is not subject to probate. You can also create a revocable trust which can be canceled or revoked at any time while you are alive. Trusts can be set up for a child’s education or to reduce estate taxes.
Pa Last Wills
A Will is an important document to execute in order to avoid disputes about how your assets will be divided when you die. The executor who administers the distribution of assets from your estate will allocate your possessions as you specified. You should periodically review your Will to make sure it is still relevant and accurate. Life changing events, such as the birth of a child or a marriage, may require amendments to the original document.
If you die without a will, you are said to die intestate. In such a case, the state will handle your estate and your assets may not get to the people, institutions or charitable causes that you wanted.
Planning Ahead is Important
For the average person, all of these documents can seem confusing and a bit overwhelming. Estate planning attorney John B. Whalen, Jr. can help you decide which documents you need and how best to plan ahead so that your wishes are carried out.
John B Whalen Jr Esq
John B. Whalen, Jr., JD., LL.M., is an AV Peer Review Rated Preeminent 5.0 and Avvo Rated 10.0 Superb (obtaining over 95 client reviews and peer endorsements) premier and prestigious Attorney and Counselor at Law.
He has amassed over 60 prestigious professional awards and over 5000 client reviews and endorsements.
Mr. Whalen concenntrates his three decade career in the legal areas of Pa Probate, Pa Last Wills, Pa Estates, and Pa Estate Settlement.
Mr. Whalen provides brief free initial consults all seven days, requires a one hour ($450.00) consult fee paid in advance for further consults and client meetings, and provides home visits and flat fees.
He is located at 1199 Heyward Road Wayne Pa 19087. Mr. Whalen serves all surrounding counties, all days, from 9:00 AM to 10:00 PM, and on evenings, weekends, and holidays.
He can be reached by email at email@example.com, and by telephone at 1-610-407-0220.
Serving All Surrounding Areas
Mr. Whalen conducts his practice in West Chester Pa Probate Wills Estates Lawyers, Media Pa Probate Wills Lawyers, Norristown Pa Probate Wills Lawyers, Malvern Pa Probate Wills Lawyers, Ardmore Pa Probate Wills Lawyers, Wayne Pa Probate Wills Lawyers, Collegeville Pa Probate Wills Lawyers, and Skippack Pa Probate Wills Lawyers.
- 2019 Preeminent – Philadelphia News Journal
- AV Preeminent Press Release
- 2018 Best Lawyers
- 2018 Avvo Superb
- 2018 Martindale AV Preeminent