Estate
Peace of mind at an affordable price.
Wills
Carrying Out Your Wishes After Death.
This document states your final wishes. Your Will provides instruction about what to do with your property and assets after you die.
If you have small children or children with special needs, it is incredibly important to have a Will.
A Will can be used to:
✓ Name beneficiaries of your assets and possessions
✓ Name guardians who will take custody of your children
✓ Nominate an executor who will distribute your assets and carry out your wishes
Living Will
Providing for Health and End-of-Life Decisions
Also known as an Advance Health Care Directive, a Living Will provides instructions about how to manage your medical care should you become unable to make those decisions yourself.
A Living Will/Advance Directive allows you to appoint a Health Care Agent (usually a spouse, family member or friend) who has the legal authority to speak for you.
Without a Living Will identifying your wishes, family members and doctors are left to guess what you would prefer in terms of life-sustaining medical treatment, organ donations, or disposal of your remains via burial or cremation.
Power of Attorney
Providing for Incapacity
As the name implies, a Power of Attorney (POA) gives someone else “power” to act on your behalf. Although there are different types of POAs, they each allow you to designate an Agent. Depending upon its specific language, a POA can give the Agent the ability to access your financial accounts, engage in real estate transactions, operate a business and/or make gifts. Some POAs take effect as soon as they are signed, others require the Principal (you) to be incapacitated. Regardless of when it becomes effective, the Agent has a fiduciary obligation. This means that the Agent must act in the Principal’s best interest. The Agent is held to the highest standards of good faith.
When creating an estate plan, the Power of Attorney can be the most important document you sign as it has the ability to covey such broad powers.
Estate Administration (Probate)
The death of a loved one can be accompanied by complex legal and financial challenges. At this emotional time, so many of our clients have asked, “What do I have to do now?”
After a loved one dies, the first step is to locate a Will (if one exists.)
If there is no Will, Pennsylvania law describes who has the authority to administer the estate. Generally, that person will be a surviving spouse or an heir (children or another close relative).
If there is a Will, an executor/executrix will have been named to carry out the provisions of the Will. The executor/executrix is responsible for collecting the assets, paying debts, filing several tax returns, and making timely distributions to the estate's beneficiaries.
Serving as an executor/executrix can be a complicated task. Gross Law Office has administered estates for over a decade. We can help you meet your fiduciary duties, file the necessary tax returns and properly account to the estate beneficiaries. We help you avoid costly mistakes that could otherwise subject you to personal liability.
For more information on estate planning or administration, please contact Gross Law Office today to schedule your FREE consultation – 610-841-3512
Without a Will, where your assets go and who your children live with. Don’t you think you should be the one to make those decisions?