Will and Family Trust Attorneys in Reading, PA
A will is an official document containing instructions for how your assets should be distributed after your death. Creating a properly drafted will is a way to secure the assets you worked all your life to attain and a way to ensure the security of your family and beneficiaries. When expressed clearly and in a legally sound manner, a will can save your loved ones grief, expense and time by allowing them to settle your estate cleanly.
It is very important to secure sound legal counsel when writing your will. A will must follow specific state and federal guidelines in order to be upheld if challenged, and in the state probate court. Creating a will can ensure your loved ones will be adequately supported, children will be cared for by the guardian of your choice, special items are given to loved ones who will cherish them, family heirlooms are passed down according to tradition, and charities or other organizations you care about will be supported.
Did you know 33% of wills are thrown out of court because they have not prepared correctly. Without a will, property is distributed according to state law and without regard to your intentions or your relationships with the people who matter most to you. Our attorneys at the Law Firm of Mogel, Speidel, Bobb, and Kershner can walk you through every step of the will writing process and help protect your heirs, your assets, and carry out your actual wishes for the distribution of your estate.
A trust is essentially a relationship in which a trustee holds property on your behalf. A trust can own and administer assets, real estate, bank accounts, life insurance, and much more. The trust lawyers at the Law Firm of Mogel, Speidel, Bobb, and Kershner can help you preserve your assets with a trust. Trusts allow people to devote sums of money to loved ones or organizations.
Unlike a will, a trust becomes effective immediately and continues throughout your lifetime even in the event of injury, incapacity or death. Trusts are in a sense more convenient than wills because you do not have to wait until death and probate for your wishes to be carried out. Creating a trust instead of a will avoids the cost, public disclosure, and the 6 to 12 month waiting period of probate.
The trust lawyers at the Law Firm of Mogel, Speidel, Bobb, and Kershner can help the trustee deal with the complexities of trust administration. A living trust is a great choice for anyone who wishes to control how his or her money is used. When setting up a trust it is important to have a skilled and experienced trust attorney assist you. We can help you understand the process and help you make the best decisions to achieve your goals.
Power of Attorney and Guardianships
If you're ever unable to take care of your own business or make your own decisions, a Power of Attorney (POA) protects you. A Power of Attorney (POA) is when you appoint a representative to manage your assets, sign important legal documents, and legally act in your place if you become unable to do so. This representative can also make your health care and end of life decisions for you.
There are different kind of POA's. Some of the most common are a health care power of attorney, a financial power of attorney, a durable power of attorney (DPA). A health care power of attorney can be put in place if your loved one is currently unable to make sound health care decisions. A financial power of attorney can be put in place if your loved one need assistance managing his or her finances. A durable power of attorney (DPA) can be put in place to allow you to give authority to another person or loved one to make all financial, medical, and legal decisions and transactions on your behalf.
A guardianship may be granted by the court if you become elderly or incapacitated and are no longer able to properly care for yourself. Having a guardianship gives another person legal authority to make decisions on your behalf regarding healthcare, finances, and property management. If you have a loved one that seems to be struggling with financial, medical, and legal decisions and taking care of themselves, you may want to consider establishing a guardianship. This will give you the ability to make decisions and take care of your loved one appropriately. Our power of attorney lawyers at the Law Firm of Mogel, Speidel, Bobb, and Kershner can help the deal with the complexities of setting up a guardianship or power of attorney.
Durable Power of Attorney and Trust Lawyers in Berks County, PA
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