Ten Steps To Estate Planning

By Jeremy A. Wechsler, Esq.
Principal Attorney
The Law Offices of Jeremy A. Wechsler

1. Find a qualified estate planning attorney who is an expert in estate planning who will know the right questions to ask to draft your vital documents.

2. Determine the value of your estate - tally up all of your assets and liabilities for estate tax purposes. The federal exemption is currently high, and not many people will be taxed at the federal level.

3. Gather important documents, such as life insurance policies, annuities, pensions, retirement accounts, IRA's, 401(k)'s, bank accounts, savings accounts, securities, real property deeds, mortgages and loans.

4. Consider who will be your trustee of your trust (or executor for a will).

5. Consider who will be your agent for your financial and health care powers of attorney. This is the person who will act on your behalf if you become incapacitated.

6. Consider what instructions you want in your living will, such as whether you want to die naturally or not.

7. Think about whether you want to avoid probate, the court administration of your estate if you have a will, or an unfunded living trust. Probate can be frustrating, time consuming and costly for your loved ones upon your passing. But you can avoid probate with a proper estate plan.

8. Make sure you have funeral arrangements and instructions regarding burial or cremation.

9. There are several types of joint ownership, especially for real property. Make sure your share does not automatically go to the other owner if you do not want it to do so.

10. Make sure you communicate your plan with your family. Remember, your living trust or will and ancillary documents are one of the greatest gifts you can leave your loved ones. But you must be sure that they are aware of your plan, know where to find it upon your passing, and agree on it now.

Can our office help you with your estate plan? Please contact us today for a free consultation.

Hiring an attorney is an important decision which should not be based solely on advertising. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning, Wills, Trusts, Asset Protection, Special Needs Planning, Veteran's Benefits and Probate/Estate Administration in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem Plymouth Meeting and Furlong in Philadelphia County, Bucks County and Montgomery County.



© 2010 The Law Offices of Jeremy A. Wechsler | Disclaimer
2300 Computer Avenue, Suite H-42A, Willow Grove, PA 19090 | Phone: 215-706-0200
Estate Planning | Special Needs Planning | Veterans Benefits | Lgbt Planning | Probate / Estate Administration | Pet Trusts | Advanced Estate Planning | Asset Protection | Elder Law / Medicaid Planning | Business Law | About Us | Resources

site design by
Amicus Creative