When Pennsylvania residents are finally ready to sit down and get started on their estate plans, usually their first question is: Where do I start? That is understandable, as there are many different options when it comes to estate planning and each person’s estate plan will be somewhat different from all other estate plans. However, there is a good starting point: think about your goals.
By staying goal-oriented in the estate planning process, you can check off this task as a success once it is complete. As a recent news article mentioned, there are a few different goals to keep in mind during the estate planning process. First and foremost, consider your beneficiaries and how you would like them to be protected. Yes, you probably want to control who gets what – and that is fine. Protecting against potential disagreements over your estate is one of the primary goals of estate planning for many people, for example.
Another goal is to have a comprehensive estate plan that, as much as possible, plans for every conceivable possibility. For most people, that means an estate plan will usually include a will, power of attorney documents, the correct designations for beneficiaries and as guardians for any minor children and, possibly, even a trust.
At our law firm, we understand that there may be confusion surrounding the estate planning process as people get started. We do our best to help our clients in Pennsylvania as they work through these issues. For more information, please visit the estate planning overview section of our law firm’s website.