Top 3 considerations for your Estate Planning Lawyer in Philadelphia

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Are you considering formal estate planning in Philadelphia? There can be many important factors to initially discuss with your estate planning lawyer. Today I will explore some of the questions you may experience when searching for a good quality experienced professional. Remember that in Philadelphia, laws may govern whom your estate will be left to without a will, therefore it is vital to have a professional draw up a clear estate will plan. Below are my top 3 considerations to check during your first consultation session:

1. Clear Declaration – Estate Wills can be complex documents and may be often misinterpreted. It is therefore vital to make a clear declaration when estate planning to ensure that everyone understands who gets what. In Philadelphia the law can determine who receives your estate without a Will therefore it is important to make a clear declaration of your wishes, which your estate planning lawyer can provide for you.

2. Discuss Estate Taxes – You may be surprised to learn that the beneficiaries of your estate may be subject to additional estate taxes after you pass. You should discuss these with your estate planning lawyer in Philadelphia, who will be able to explain the options your family and loved ones can try to reduce the amount of these taxes.

3. Consider College Funds – If you would like part of your estate to go to family ones to pay for their future college funds then you need to explain this to your estate planning lawyer. They can write up a bond type agreement to ensure that these funds are held for college education.

I hope that you would have found this information valuable on your search for an estate planning lawyer in Philadelphia. As you can see estate planning is a complex process involving complicated legal documents and you also need to consider other issues such as income taxes and any charitable donations. While you may be able to estate plan yourself, a mistake can be costly and may result in the most important people in your life missing out on what they deserve.

An experience estate planning lawyer in Philadelphia is the best way to cover all these issues. Nobody likes to consider these questions while you are alive and healthy but estate management is important and should not be put off. By following these tips you should be confident of discovering your new estate planning lawyer and enjoy peace of mind for you and your family.

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