At The Martin Law Firm, located in Blue Bell, PA, we often get questions as to why a person should hire a lawyer to create a Last Will & Testament.  To explain, I’ll first provide a summary of why you need a Will, and then explain the advantages of utilizing the knowledge, skill, and expertise of an experienced Will lawyer to draft the cornerstone to your Pennsylvania estate plan. 

If living in Montgomery County, PA, having a Will in place is an important step in planning for the future.  However, it is just as important to remain updated on current changes in the tax laws which may impact the amount of taxes that your estate will pay to the state and federal government.  An experienced Montgomery County, PA Will lawyer will remain apprised of new changes to PA and Federal tax laws and can help you create an estate plan that can lower or eliminate the tax burden. 

A Revocable Living Trust is a popular Pennsylvania estate planning tool commonly used in place of a Will to determine who will receive a person's property upon death.  A Revocable Living Trust is created for the purposes of holding and investing property and can be changed or revoked during a person's lifetime.  A Revocable Living Trust is beneficial in that it allows for an individual to plan for the future, and unlike a Will, a Revocable Living Trust will avoid the need for probate.

While you may be familiar with the concept of having a Will, you may not understand why having a Will in Montgomery County, PA is truly necessary.  A Will is a document that lets you tell the world whom you want to get your assets at the time of your death. Die without one, and the Pennsylvania Intestacy Laws decide who gets what, without regard to your wishes or your descendant’s needs.  Aside from this basic reason for having a Will, a Will is needed in Montgomery County, PA for a number of reasons:

Despite the importance of planning for unanticipated events in the future, it’s common for families in Montgomery County, PA to put off estate planning, including the creation of a Last Will & Testament.  At The Martin Law Firm, our Montgomery County, PA Will lawyers realize that it can be easy for estate planning to slip down your list of priorities.  So, when is the right time to make a Will in Pennsylvania?  Below is a list of major life milestones that may make you want to consider contacting one of our Montgomery County, PA Will lawyers to get your estate planning process started.

While it is important to have your affairs in order by way of a Will and/or other estate planning documents, it is equally as important to be sure that you’ve arranged to have someone in place who can adequately manage your assets at the time of your death.  This person, known as an executor or personal representative, will be charged with the duty of administering your estate.  Common questions many personal representatives ask are, “where do I begin?” or “how do I handle this?”

Probate is the legal process whereby the Will of a deceased person is presented to the Register of Wills and the estate of a decedent is legally administered by the executor named in the Will.  It’s both an honor and a burden to serve as the executor of someone’s estate.  An executor is responsible for winding up the decedent’s affairs through the probate process.  Pennsylvania probate involves various legal matters, so it’s highly advisable for an executor to retain a qualified PA probate lawyer to assist with all of the requirements.  The role of an executor in PA can be demanding and can result in legal and financial liability if the estate’s affairs are mishandled.

A Last Will & Testament, commonly referred to simply as a “Will”, is a legal document that designates those who will inherit your property upon your death.  Many young parents in PA overlook the importance of a Will because they have not accumulated a large number of assets, and these parents believe a Will and the cost involved to create one is unnecessary at this time.  However, a Will is extremely important for young parents because a Will can allow parents to name guardians for their children and set up a plan for the child or children’s financial well-being. 

Many residents of Norristown, PA are business owners, and one issue our probate lawyers regularly encounter is how to probate an estate when a business is involved.  When a business owner dies in Norristown, PA, loved ones must deal with a period of grief and emotional strain.  Additionally, there is often much confusion about what will happen with regard to the business.

The executor, or personal representative, is the person appointed in a will to handle the administration of the estate throughout the probate process after death. The role entails a great deal of responsibility, time and effort, including fiduciary responsibilities such as probating the will, notifying beneficiaries and heirs, and notifying creditors of the estate.  However, it is not always convenient for the person named in the will to be present to administer the estate, especially if he or she is living outside of Pennsylvania.