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Including a Trust as part of your estate plan is a smart decision. It allows you to avoid probate, maintain privacy, and distribute your assets to your loved ones while also providing them with a lifetime of asset protection, if you choose it for them. But, here’s the thing you might not know, and is critically important to remember: simply creating a Trust is not enough. For your Trust to work, it has to be funded properly and may need to be updated over time.
Funding your Trust means transferring ownership of your assets from your own name into the name of your Trust. This can include bank accounts, investments, real estate, and other valuable possessions.
By funding your trust properly, you ensure your assets are managed according to the terms of your Trust and will be distributed according to your wishes when you die or if you become incapacitated.
But, if you fail to fund your Trust, it becomes nothing more than an empty vessel. Your assets will not be protected or distributed as intended, at least partially defeating the purpose of creating a Trust in the first place! While your assets can still get into your trust and be governed by your Trust after your death, that means that your family still goes to court to get your assets there, and that is a costly endeavor.
To make sure your Trust works for you, avoid these funding fiascos and work with an attorney who will ensure that everything that needs to get into your Trust does.
Many people mistakenly believe that a Will or Trust alone is enough to dictate how their financial accounts should be distributed after they die. However, this isn’t the case. Without proper beneficiary designations on your accounts, your wishes may not be honored and your assets could end up in the wrong hands.
Remember, the beneficiaries you designate on your accounts supersede any instructions in your Will or Trust, so this step is vitally important.
Take a moment to review your various accounts, such as bank accounts, retirement plans, and life insurance policies. Ensure that each account has your Trust named as your designated beneficiary, unless you’ve made different plans for that specific account.
When you are working with a lawyer, make sure your lawyer has a plan for each one of your beneficiary-designated assets, communicates that plan to you, and that the two of you decide who will handle updating your beneficiary designations. Then, make sure you review your beneficiary designations annually. In our office, we support our clients to do all of this with well-documented asset inventories, and a regular review process built into all of our plans.
For many of us, our home is our most important and valuable asset. But if your attorney doesn’t deed your home into your Trust, your home won’t be included under the terms of your Trust if you become incapacitated or pass away.
That means your home could end up going through the long and expensive probate court process in order to be managed during an illness or passed on to your loved ones after you die. If you own a $300,000 home, that means your family could lose up to $15,000 or more just to transfer your home to your trust and then distribute your home pursuant to the terms of the trust - and that’s not including any other assets that would have to go through probate.
A knowledgeable estate planning attorney shouldn’t miss this step, but it happens. And if you’re using a DIY service online to create a Trust without the help of any attorney at all, it’s bound to happen!
That’s why it’s so important to work with a lawyer who takes the time to make sure every asset you own is in your Trust before they say their farewells.
You might wonder how not reviewing your estate plan every few years could really make your plan worthless. Well, the good news is that failing to review your plan is unlikely to completely eliminate the benefits it provides you because an estate plan is made up of a number of moving parts, not just a Will or a Trust.
But, failing to keep your financial assets up to date and aligned with your estate plan can result in huge issues for you and your family and can even make the Trust you invested in worth little more than the paper it’s printed on!
That’s because your Trust can’t control any assets that don’t have the Trust listed as the owner or beneficiary. By reviewing your accounts every 3 years, you can help catch any accounts that don’t have your Trust listed in this way.
For example, it’s very common for clients to open a new bank account and forget to open the account in the name of their Trust or add their Trust as a beneficiary.
Thankfully, by comparing my clients' financial accounts to their estate plan at least every 3 years, I’m able to catch simple oversights like this that could cause their assets to be completely left out of their Trust.
Make Sure All of Your Assets Are Included In Your Plan with Help From Your Personal Family Lawyer®
Getting your legal documents in place is an important step, but it's equally important to know that the documents themselves are not magic solutions (as magical as they may seem!). Merely creating a Trust or naming beneficiaries on your accounts does not guarantee that your wishes will be carried out unless all of the pieces of your plan are coordinated to work together.
If you aren’t experienced in the area of estate planning, trying to coordinate all these pieces yourself can be a recipe for disaster.
That’s why I work closely with my clients to not only create documents but to create a comprehensive plan that accounts for all of your assets and how each one needs to be titled to make sure your plan works for you the way you intended. Plus, I offer my clients a free review of their plans and financial accounts every three years to ensure that their plans accurately reflect their lives and their wishes for their assets and loved ones.
If you want to know more about my process for funding your Trust and making sure nothing is ever left out of your plan, contact Sharek Law Office at 412-547-9855 or click here to schedule a complimentary 15-Minute Call.
This article is a service of Sharek Law Office, LLC. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life and Legacy Planning Session, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge. Please note this is educational content only and is not intended to act as legal advice.
You finally did it. You signed the papers, got the binder, and checked Estate Planning off your list. But now what?If that beautifully prepared binder is collecting dust on a shelf, tucked in a drawer, or forgotten in a box, youre not alone. So many families work hard to create a plan, only to assume the job is done.Heres the truth: most estate plans fail. Not because you did anything wrong. Not because of a legal misstep. They fail because no one told you what to do after you sign. At Bellomo & Associates, we believe your plan should live and breathe alongside your life. The work doesnt end with the signature; it begins there. Here are the three key things you must do to make sure your estate plan works when your family needs it most. Update Your Plan RegularlyThink of your estate plan like a car. You wouldnt buy one and drive it for ten years without an oil change, right? The same idea applies here. Your plan needs regular check-ups to keep it running smoothly.Life changes. And when it does, your plan should reflect that. You should review your plan if:You got married or divorcedYou had a child or grandchildYou moved to a new stateYou bought or sold a home or businessEven if your circumstances havent changed, the laws might have. Or maybe the people you once trusted to step in for you have changed. We recommend reviewing your plan every 2 to 3 years, or sooner after any major life event. Thats why our clients love our maintenance program; its our way of walking alongside you through lifes changes. Fund Your TrustThis is where most estate plans quietly break down. You created a trust but did you put anything into it? If your trust isnt funded, meaning your assets arent properly titled, its just paper. Your family may still end up in probate court, facing delays, confusion, and extra costs. Heres a quick checklist to consider:Is your home deeded to your trust?Are your bank and investment accounts titled correctly?Do your retirement accounts and life insurance policies match your plan?Not sure? Were happy to help. We do this every day, and we love making it easy for our families. Educate Your HelpersNaming someone as a trustee, power of attorney, or executor is important. But if they dont know theyve been chosen or dont know what to do, it can lead to chaos at the worst time. Your helpers need to know:That theyve been named.What their role involves.Where are your documents?How to reach your attorney.We love it when clients bring their helpers to workshops or invite them to a quick meeting. One short conversation now can save your family from heartache later. Bonus: Give Yourself a Quick Check-UpAsk yourself these questions:Have I reviewed my plan in the past 2 years?Is my home titled in the name of my trust?Are my financial accounts correctly assigned?Do my agents or trustees know theyve been named?Do they know how to reach my law firm?If you answered no to even one, your plan might not work as you intended. But dont worry, you dont have to start from scratch. How We Help Keep Your Plan AliveAt Bellomo & Associates, we dont believe in one-and-done planning. Thats why we created our Maintenance Program, the Red Wagon Club. Its a simple, affordable way to keep your plan current and your family protected. As a member, youll receive:Annual plan reviewsUpdates for legal changesOngoing support to fund your trustEducational tools for your helpers24/7 access to your documents through our secure client portalBecause your life isnt standing still, and neither should your plan. Bottom LineYouve already done the hard part. You got the plan in place. Now lets make sure it works the way you intended. Pull that binder off the shelf. Lets dust it off together and make sure your legacy is protected for the people you love. Register for a Workshop to review your plan or learn how we help families like yours every day. Wed love to see you.
Trust administration is a critical process that involves managing assets, overseeing distributions, and handling legal obligations within a trust. While it can seem intricate and time-consuming, seeking legal assistance for trust administration offers numerous benefits. In this article, we will delve into the key components of trust administration, including paying off obligations, gathering assets, and ensuring smooth distribution, while highlighting the advantages of enlisting professional help.1. Paying Off Obligations: Ensuring Financial ResponsibilitiesOne of the essential tasks in trust administration is settling the financial obligations of the trust. This involves identifying any outstanding debts, taxes, and other financial commitments left behind by the Grantor. Ensuring that these obligations are promptly addressed is crucial to maintain the integrity of the trust and uphold the wishes of the Grantor. Legal experts specializing in trust administration can navigate the complex landscape of financial obligations, ensuring compliance with legal requirements and preventing any potential disputes.2. Gathering Assets: Streamlining the ProcessCollecting and managing the assets held within a trust is a multifaceted task. Trust administrators need to locate, evaluate, and categorize the assets, which can range from real estate properties to investment portfolios. Enlisting legal assistance streamlines this process, as professionals can employ their knowledge and resources to efficiently identify all assets, assess their value, and handle the necessary documentation. This proactive approach minimizes the risk of oversight and ensures that the trusts assets are properly accounted for and managed.3. Distributing Assets: Fulfilling Beneficiary WishesThe distribution of assets to beneficiaries is a significant aspect of trust administration. Depending on the terms outlined in the trust document, assets may be distributed to beneficiaries immediately after the Grantors passing or at specific intervals over time. Legal experts play a crucial role in ensuring that these distributions adhere to legal requirements and the Grantors wishes. They help navigate potential conflicts among beneficiaries, interpret complex trust provisions, and implement fair and equitable distribution strategies.Benefits of Seeking Legal Assistance for Trust Administration:a) Expertise in Complex Legal Procedures:Trust administration involves intricate legal procedures and compliance requirements. Legal professionals specializing in trust law possess the knowledge and experience to navigate these complexities, minimizing the risk of errors and legal disputes.b) Mitigating Disputes:The presence of a legal expert can help prevent disputes among beneficiaries or other interested parties. Their objective guidance and adherence to legal protocols can mitigate conflicts that may arise during the administration process.c) Efficient Document Preparation:The documentation involved in trust administration is extensive. Legal professionals are adept at preparing and managing the required paperwork, ensuring accuracy and compliance with legal standards.d) Maximizing Tax Efficiency:Tax implications are a significant concern in trust administration. A knowledgeable legal expert can help devise strategies to minimize tax liabilities, preserving more of the trusts assets for distribution to beneficiaries.e) Focusing on Executor Duties:By outsourcing the legal aspects of trust administration, trustees can focus on their primary duties, such as overseeing investments and ensuring beneficiaries well-being.End NoteIn conclusion, trust administration involves multifaceted responsibilities, including settling financial obligations, managing assets, and distributing them to beneficiaries. Seeking legal assistance for trust administration provides numerous benefits, from navigating complex legal procedures to mitigating disputes and ensuring efficient document management. By enlisting the expertise of legal professionals, such as those at Burr Law, trustees can fulfill their fiduciary duties while upholding the intentions of the trustor and ensuring a smooth and seamless administration process. Contact Burr Law today to access their specialized trust administration services and navigate the complexities of trust management with confidence. Call us today with any questions 720-500-2076.
The idea of estate planning can be intimidating. The process involves asking tough questions and having uncomfortable conversations. An estate plan requires more than just any estate planning lawyer, you need a trusted partner to guide you through this important process. Youre looking for someone who understands the intricacies of estate planning. You need someone who will explore the potential problems and offer solutions to avoid those problems. Thats where Burr Law comes in. In this comprehensive guide, well explore why estate planning is crucial, the role of a top rated estate planning lawyer, and how to choose the right one.Understanding Estate PlanningWhat is Estate Planning?Estate planning is the process of arranging the management and disposal of ones estate during life and at death. It involves making critical decisions about how your assets will be distributed to your loved ones after you pass away. Estate planning is for everyone. Anyone who owns anything whether its a car, a house, investments, or personal keepsakes has an estate.Estate planning also includes planning for incapacity. A complete estate plan also accounts for who will make medical decisions if you cannot. It can also involve plans for who will care for your minor children, making it an essential process for parents.Why is Estate Planning Important?Estate planning is about more than just assets. Its about ensuring that your wishes are honored, your loved ones are protected, and creating a lasting legacy. Here are a few reasons why estate planning is vital:Protecting Your Loved Ones and Assets: A well-structured estate plan can help protect your loved ones from unnecessary taxes, fees, and legal complications. It can also shield your assets from potential creditors or legal disputes.Avoiding Probate: Using a trust can help avoid the lengthy and costly probate process. Trusts allow for a more efficient transfer of assets to your beneficiaries.Minimizing Taxes: Estate planning can help reduce the tax burden, ensuring your assets go to your loved ones and not the government.Planning for Incapacity: Should you become unable to make decisions regarding your health or finances, your estate plan includes directives for your care and appoints someone to act on your behalf.Providing Peace of Mind: Knowing that youve prepared for the future can offer significant peace of mind to you and your loved ones.In summary, estate planning is a crucial part of managing your financial life and providing for your loved ones future. It allows you to express your personal wishes and ensures those wishes are carried out efficiently and effectively.The Role of a Top Rated Estate Planning LawyerA well-structured estate plan is only as good as its implementation, and this is where a top rated estate planning lawyer shines.How Can a Top Rated Estate Planning Lawyer Help You?A top rated estate planning lawyer acts as your personal guide through estate planning process. A comprehensive plan considers wealth management, asset protection, wills, trusts, and incapacity planning. Estate Planning Lawyers help you chart a course that meets your immediate needs and anticipates potential future issues.These professionals provide invaluable advice in areas such as insurance planning, powers of attorney, advanced directives, and appointment of guardianship. Their expertise extends to coordinating legal documents with beneficiary designations on your accounts, insurance policies, and more. This coordination is vital as it ensures your estate plan aligns perfectly with all your financial arrangements, avoiding potential legal disputes or discrepancies after your passing.Remember, estate planning is not a one-time event. Its an ongoing process that may require adjustments as your life circumstances, financial situation, or laws change. An estate planning lawyer provides continuous legal support and counsel, updating your estate plan as necessary to reflect these changes.When Should You Hire a Top Rated Estate Planning Lawyer?The simple answer is, the sooner, the better. Life is unpredictable. Unexpected events can occur at any time, underscoring the importance of having an estate plan in place sooner rather than later.Even younger individuals benefit from estate planning, particularly if they have young children, own property, or have significant financial assets. Estate planning ensures that your assets are distributed according to your wishes and that your children are cared for by the people you trust most.Moreover, if your situation involves complex family or financial circumstances, such as owning a business, having a large estate, having children from multiple marriages, or planning for a child with special needs, an estate planning lawyer becomes crucial.Finally, seeking legal counsel is also advisable if you are facing a life-changing event such as marriage, divorce, retirement, or the death of a spouse. These events can significantly impact your estate plan and warrant a review with a top rated estate planning attorney.In conclusion, an estate planning lawyer plays a pivotal role in securing your legacy and ensuring your loved ones are cared for after your passing. Their expertise and guidance can provide you with peace of mind, knowing that your wishes will be honored and your estate will be handled efficiently and effectively. Key Factors to Consider When Choosing an Estate Planning LawyerWhen it comes to choosing a lawyer for estate planning, several key factors can help you make an informed decision. Finding the right attorney is more than just a simple Google search. Consider the attorneys experience, communication style, client reviews, and location.Experience and ExpertiseThe first thing to consider is the lawyers level of experience and expertise. Estate planning is a complex area of law that requires specialized knowledge in areas like wills, trusts, healthcare directives, and tax laws. Consider the attorneys years of practice and their specific experience in estate planning. Do they have a proven track record in helping clients achieve their estate planning goals? Are they able to navigate complex situations and offer tailored solutions to meet your unique needs?Communication and TrustEstate planning is a personal process that requires open and honest communication. You should feel comfortable discussing your financial situation, family dynamics, and future wishes with your attorney. Ask potential attorneys about their communication process. How often will you meet? How will they keep you informed about your estate plan? Do they listen to your concerns and explain complex legal concepts in a way you can understand? Trust is paramount in this attorney-client relationship, as youll be entrusting them with crucial decisions about your legacy.Client Testimonials and ReviewsClient testimonials and reviews can offer valuable insights into an attorneys professionalism and the quality of their service. Look for reviews that mention the attorneys expertise, dedication, and the outcomes theyve achieved for their clients. Positive client reviews can be a good indication that the attorney has a strong reputation for delivering excellent client service.Location and AccessibilityFinally, consider the attorneys location and accessibility. In-person meetings can be beneficial for discussing sensitive or complex issues. A local attorney will also be familiar with the specific laws and regulations in your state. If youre in Aurora, Colorado, for instance, choose an attorney who is easily accessible and has a deep understanding of Colorado estate laws.Remember, choosing an estate planning lawyer is an important decision that requires careful consideration. By evaluating these key factors, you can find a lawyer who will help you create a comprehensive estate plan that protects your assets, honors your wishes, and ensures a secure future for your loved ones.Your Trusted Estate Planning Partner in Aurora, ColoradoWith years of experience and a firm commitment to our core values of integrity, communication, trust, and optimism, we are well-equipped to help you navigate the complexities of estate planning and secure your legacy.Our Core ValuesAt Burr Law, we believe in the power of integrity, open communication, trust, and optimism. We understand that estate planning can be intimidating, and we are dedicated to making it as stress-free and straightforward as possible. Our team is committed to providing personalized advice and guidance, offering peace of mind knowing that your estate is protected and your wishes are upheld. Whether youre looking to create a will or trust, establish powers of attorney, or advanced healthcare directives, were here to support you every step of the way.Our Proven Track RecordWere proud of our proven track record of success. Our dedicated team has consistently demonstrated a high level of expertise and dedication, earning us a reputation as one of the top rated estate planning firms in Aurora, Colorado. Whether its crafting a comprehensive estate plan, mitigating estate tax implications, or ensuring asset protection, weve helped numerous clients to secure their legacy.At Burr Law, we dont just see you as a client, but as part of our community. Were not just your lawyers, but your guides, helping you to navigate the complexities of estate planning and secure your legacy. Reach out to us today to see how we can help you.How to Get Started with Your Estate PlanWith the right guidance and support, you can simplify the process and ensure that your legacy is secured according to your wishes. Here are the steps you need to take to get started:Initial ConsultationThe first step in your estate planning journey is to schedule an initial consultation with a top rated estate planning attorney. During this meeting, well discuss your goals, concerns, and any specific circumstances that may influence your estate plan. This is an opportunity for you to ask questions, get to know us, and understand the overall process. At Burr Law, we offer free initial consultations to help you get started.Creating or Updating Your Estate PlanOnce youve discussed your goals and objectives, its time to create or update your estate plan. This involves drafting key documents such as wills, trusts, and powers of attorney. Each individuals situation is unique and requires a tailored approach. For instance, if you have minor children, you might need to appoint a guardian in your Will. Alternatively, if you own a business, a succession plan may be necessary. Also, remember that estate planning is not a one-time event. As your life changes, so should your estate plan. Regular reviews and updates are crucial to ensure that your plan continues to align with your wishes and circumstances.Ongoing Legal Support and CounselEstate planning is an ongoing process, and having a top rated estate planning attorney by your side can provide invaluable peace of mind. At Burr Law, we offer ongoing legal support and counsel to our clients. Whether you need to update your estate plan due to a life event, have questions about a particular aspect of your plan, or require assistance with the administration of a loved ones estate, we are here to help.Navigating the complexities of estate planning can be challenging, but you dont have to do it alone. With the right guidance and support, you can create a comprehensive estate plan that aligns with your goals and secures your legacy. Contact Burr Law today to schedule your initial consultation and take the first step towards protecting your loved ones and safeguarding your financial future 720-500-2076.
Our Firm Prepares You for Life What makes our firm different is that we were built with the needs of growing families in mind. We understand you are BUSY, you are growing, you are planning for a life of prosperity and you value ease, convenience and efficiency. You are raising children, and caring for elderly parents, while also working hard to build your own nest egg for a lifetime of support. You want to know youve made the best decisions for your family and that your plan will work when your loved ones need it most. You want to make sure your minor children would be raised by the people you choose, and never by anyone you wouldnt want, and that your teens and adult children are properly prepared to care for you and what you leave behind. You want to feel confident that youve made the right choices, and handled everything so that you arent leaving behind a mess, when something happens. That is our focus as well. Weve developed unique systems to give you the same access to a Personal Family Lawyer as was previously only available to the super-wealthy, so you can have the guidance you need to build and maintain a life of prosperity and wealth. And, to keep your family out of court and out of conflict, which is the greatest risk to the people you love and all you have created, even if youve already worked with a traditional lawyer or created documents online. Our Team Is Here for You We encourage communication with our clients. In fact, weve thrown out the time clocks so you never have to be afraid to call with a quick question. Everything we do is billed on a flat-fee basis, agreed to in advance, so there are never any surprises. We have a whole team to serve you. When you call our office to ask your quick question, you wont have to wait hours or days for a phone call back. Youll get your question answered, right away. And, if you need to schedule a more in-depth legal or strategic call with your Personal Family Lawyer, a call will be scheduled when you're both available and ready for the call so we can make the very best use of your time and not waste your time by leaving voicemail after voicemail back and forth. And, we ensure the most important details of your planning are followed through on and your plan continues to work throughout your lifetime. We have a funding coordinator to ensure your assets are owned the right way throughout your lifetime and none of your assets will end up going through a long, expensive court process or being lost to the state because they were missed after your death. Weve created unique membership programs to keep your plan up to date year in and year out as well as give you access to our Trusted Team of Legal Experts for guidance on ANY legal or financial matter. One day you will need a lawyer. I dont know why and I dont know when, but when you do, you will be grateful you can call on us and well be here to advise you or get you out of a jam. We Help You Transfer Your Life and Legacy Lastly, we believe your financial wealth is only a small part of your overall Life and Legacy Planning which is made up of your far more valuable and most often lost upon incapacity or death intellectual, spiritual and human assets. These assets are what make you who you are, and sum up whats most important to you. And, a survey of inheritors has revealed that what they care about even more than inheriting your money, is inheriting these intangible assets. Most estate plans only focus on the transfer of your financial wealth to the next generation. Most people have such great intentions of passing on the intangible, but very few ever get around to it. Its just not a priority, until its too late. How much do you know about your grandparents values? Their most prized personal possessions? How they felt about you? What they had learned during their lifetime? If you are like most people, you know very little. Thats why we build the capture and passage of these most valuable assets into every estate plan we create. Not only will we help you pass on your money, but also your values, your insights, your stories and your experience the truly valuable assets your loved ones care about the most. Weve developed a tool that allows us to capture and pass on your whole family wealth, including your Intellectual, Spiritual and Human assets. I cant go into all of the details here, but well definitely talk about it when you come in for your Life and Legacy Planning Session.
Comprehensive Special Needs Estate Planning & Special Needs Trusts in PennsylvaniaEstate planning for families with special needs children presents a unique set of financial, legal, and healthcare challenges that require the expertise of a special needs planning attorney. Not all estate planning lawyers understand the intricacies involved, but the experienced special needs estate planning attorneys at Entrusted Legacy Law are dedicated to ensuring your child with special needs is fully protected when you are no longer able to serve as their primary caregiver.We provide a full range of estate planning services tailored to families with special needs children in Pennsylvania. Our goal is to help you preserve assets for your childs future care while ensuring they remain eligible for essential government benefits like Medicaid and Supplemental Security Income (SSI). We assist in setting up special needs trusts (SNTs) to safeguard financial resources, appointing legal guardians and trustees, and identifying long-term care options to ensure your child receives the best possible support and housing solutions.Special Needs Trusts & Asset ProtectionOne of the most significant challenges in special needs financial planning is ensuring that your child has adequate resources without jeopardizing their eligibility for public assistance programs. Many families unknowingly risk disqualifying their child from essential benefits by leaving them a direct financial inheritance. Instead, the best strategy is to establish a special needs trust to provide financial security while preserving their access to Medicaid, SSI, and other government assistance programs.A properly structured special needs trust allows funds to be used for supplemental expensessuch as medical care, therapy, education, and personal carewithout affecting eligibility for disability benefits. However, the regulations governing these trusts are complex. Funds must be managed by a designated trustee and cannot be distributed directly to the beneficiary, as this could trigger disqualification from public benefits. Additionally, a child's needs evolve over time, making it critical to have a trust that can adapt to changing circumstances and legal requirements.By working with an experienced Pennsylvania special needs attorney, you can ensure that your childs special needs trust is legally sound, structured correctly, and customized to their specific requirements.Special Needs Planning for Families in PennsylvaniaAt Entrusted Legacy Law, we specialize in estate planning for children with disabilities, including Down syndrome, autism, cerebral palsy, and other developmental or intellectual disabilities. Our firm helps families create a comprehensive life care plan that provides financial security while safeguarding access to government benefits and essential support services.Whether you need help establishing a special needs trust, securing a legal guardian, or planning for long-term care and housing, our Pennsylvania special needs planning attorneys are here to guide you through every step of the process.Contact Entrusted Legacy Law today to start creating a sustainable, secure future for your child with special needs.
Estate Planning for Everyone You Love and Everything You OwnHave you ever considered what would happenlegally and financiallyto you, your family, your assets, and everything you care about if the unexpected were to occur?If your estate plan is outdated or non-existent, your assets could be lost to the State Department of Unclaimed Property, subjected to an expensive and time-consuming probate process, or even end up in the wrong hands. Without a comprehensive estate plan, your loved ones may face unnecessary financial hardship, legal disputes, or court intervention at a time when they need certainty and protection the most.If you dont know exactly what would happen to everything you own and everyone you love, the first step is to gain clarity. You need to understand how your current estate plan (or lack thereof) will impact your family so you can make informed decisions about whether it truly aligns with your wishes.How Entrusted Legacy Law Helps You With Estate PlanningWe offer customized estate planning solutions designed to protect your family, preserve your wealth, and ensure your wishes are honored. Through our Life and Legacy Planning Session, we take the time to educate you on the legal, financial, and personal implications of your estate choices.Step 1: The Life and Legacy Inventory & AssessmentBefore your Life and Legacy Planning Session, you will complete a comprehensive estate inventory that outlines your financial assets, real estate holdings, retirement accounts, life insurance policies, and other valuable property. This step ensures that we have a full picture of your estate and can identify potential gaps in your asset protection strategy.Step 2: Creating a Personalized Estate PlanIf you decide that your current estate plan is inadequateor if you dont have one at allwe will work together to design a legally sound and strategically structured estate plan that meets your familys unique needs. The foundation of your estate plan will often include a revocable living trust, which allows you to transfer your assets into the trust while maintaining control during your lifetime.Benefits of a Revocable Living Trust: Avoid Probate Prevents the time-consuming and expensive court process that could otherwise delay asset distribution. Minimize Estate Taxes Helps reduce tax liabilities and protect your wealth for future generations. Ensure Privacy Unlike a will, which becomes public record, a trust ensures your estate remains private. Maintain Control Dictate how and when your assets are distributed to your heirs.For families with complex financial portfolios, business ownership, or special circumstances (such as blended families or special needs children), we offer advanced estate planning strategies tailored to your specific goals.Can You DIY Your Estate Plan?Many people wonder if they can create an estate plan using online templates or generic legal services. Unfortunately, most DIY estate plans fail when families need them the most. What often passes for "estate planning" is nothing more than basic document generation, where you answer a few questions and receive a generic template that may not fully protect your assets or your loved ones. No Personalization A generic template cannot address your unique family dynamics, financial situation, or specific legal concerns. Legal Loopholes Improperly structured wills or trusts may be contested in court, leaving your family in legal disputes. No Ongoing Maintenance Estate laws change, and without updates, your plan may become outdated and ineffective.At Entrusted Legacy Law, we dont just draft documentswe provide comprehensive estate planning services that ensure your estate plan actually works when it matters most. We take the time to understand your familys needs, educate you on your options, and create a legally enforceable, tax-efficient, and conflict-free estate plan that gives you peace of mind.Protecting Families & Minor Children Through Estate PlanningIf you are a parent with young children, your estate plan should begin with a solid foundation that ensures your children will always be taken care of, no matter what happens. Without the proper legal protections in place, your children could end up in the custody of someone you wouldnt have chosenor worse, under state guardianship.At Entrusted Legacy Law, we specialize in estate planning for families with minor children. We help parents:Name Legal Guardians Ensure your children are raised by trusted individuals of your choosing.Set Up Trusts for Minor Children Prevent financial mismanagement by appointing a responsible trustee to oversee assets.Establish Emergency Plans Provide clear instructions for immediate care in case of sudden incapacity or death.Whether youre planning for minor children, adult dependents, elderly parents, or a complex estate, we can guide you through the estate planning process with personalized strategies to protect your familys future.Secure Your Legacy With Entrusted Legacy LawEstate planning isnt just about who gets whatits about ensuring that your loved ones are financially secure, legally protected, and prepared for the future.If you want to create a comprehensive estate plan that reflects your wishes, avoids probate, minimizes taxes, and keeps your loved ones out of court and out of conflict, then now is the time to take action Contact Entrusted Legacy Law today to schedule your Life and Legacy Planning Session and take the first step in protecting your family, your assets, and your future.