Estate Planning Can Protect Your Assets And Your Family’s Future
Estate planning might not seem like something you need. However, most people generally want some say on where their assets go after their death or if they become incapacitated. Without an estate plan, you will not have control over who receives your money, property and other assets or who can make your health care decisions.
Some people do not plan ahead because they do not want to think about death or serious injuries that could prevent them from making important decisions. An experienced estate planning attorney can guide you through complicated – and often emotional – decisions to protect your family and financial stability.
It is important to protect your assets and finances. Estate plans help you control where your assets go, can minimize taxes and helps ensure your wishes are followed. The Estate & Elder Law Firm of Erik Spurlin can help you prepare an estate plan.
Things You Should Consider In Estate Planning
At the Estate & Elder Law Firm of Erik Spurlin, the heart of our practice is helping our clients create their will and other documents for a comprehensive estate plan. Even if you have already created a will, in some cases, this instrument may not be enough to fully protect your wishes and your legacy. There are things to consider, including:
- Blended families – You might want to ensure you have made provisions for your biological and stepchildren.
- Business ownership – If you own a business, do you know who will operate it if you cannot?
- Charitable benefits – Explore the benefits of including charities in your estate plan. You can reduce or eliminate capital gains taxes, reduce estate taxes and claim income tax deductions for charitable giving.
- Care of underaged children – Your estate plan can help decide how your children are cared for if one or both parents die.
- Special needs care – You can provide for continued care for family members with special needs.
- Retirement accounts – Distribution of these accounts can be stretched out over time and can minimize your tax responsibilities.
- Power of attorney – You can designate a trusted person to handle your business affairs for you while you are alive but incapable of speaking for yourself.
- Health care directive – You can designate a trusted person to ensure your choice of medical care and treatment is followed in the event you are no longer able to do so.
- Tax liability – Complex inheritance taxes can be minimized with early planning.
We Can Help You Create An Effective Estate Plan
As a certified elder law attorney, Erik Spurlin provides innovative legal advocacy for our clients. He will help you shape your estate planning documents to your specific circumstances. He is ready to assist you with your estate planning needs in York County from our convenient Red Lion location. To schedule an appointment, call our office at 717-501-4009 or visit our contact page.