Every adult needs a comprehensive plan for the future. You work hard to build your life and accumulate assets over time. Protecting those assets requires specific, well-drafted legal documentation. At The Law Office of Corey J. Riddell in Ligonier, we guide clients through the vital process of understanding wills and estate planning. We proudly serve individuals and families in Southwestern Pennsylvania, ensuring their final wishes remain clear, enforceable, and legally binding.
The Importance of a Will
A will serves as the absolute cornerstone of your estate strategy. It strictly dictates exactly how you distribute your property and finances after your passing. Without this crucial document, the state decides who receives your hard-earned assets. You want to retain full control over your legacy rather than leaving it to statutory defaults. Please remember a will is a death document, and it only comes into play after death.
Assigning Power of Attorney
Effective planning involves much more than just property distribution. You must also carefully consider who will make critical decisions if you ever become incapacitated. A Power of Attorney designates a trusted person to handle your financial or medical affairs when you cannot. Understanding wills and estate planning allows you to prepare for these difficult, often unexpected scenarios proactively. When you pass away the POA must be a survivor. It is only effective when the POA is alive.
Protecting Your Heirs
Proper planning minimizes potential conflict among your surviving family members. It clarifies your exact intentions regarding family heirlooms, finances, and even guardianship for minor children. You provide invaluable peace of mind to your loved ones by removing ambiguity and stress during an emotional time.
Navigating Probate Laws
Pennsylvania probate laws require adherence to specific, rigid procedures. An experienced attorney simplifies this often complex system for your executor. The Law Office of Corey J. Riddell in Ligonier helps residents of Southwestern Pennsylvania navigate the legal requirements efficiently and correctly. We handle the heavy lifting so your family can focus on healing. Pennsylvania is one of the few states that still has an inheritance tax: rates are 4%, 12%, or 15%. The rate depends on the relationship of the beneficiary to the person that passed away.
Updating Your Plan
Life changes constantly and often unexpectedly. Events like marriage, divorce, births, or significant financial shifts necessitate immediate updates to your legal documents. You should review your plan regularly to ensure it accurately reflects your current situation and desires. You should review your estate plan every five years.
Take the first step to secure your future today. Call The Law Office of Corey J. Riddell at (724) 238-7296. We’re here to help with understanding wills and estate planning.