When many people in Pennsylvania think about potentially starting their estate planning process, they may be filled with doubt at what they perceive to be an overly daunting affair. In fact, this is probably why many people put off this crucial process, and some never get it done. However, by taking the right steps and planning appropriately for the estate planning process, Pennsylvania residents will be able to get the peace of mind that comes with having these documents drafted and executed.
For example, as a recent news article mentioned, many young families in particular don’t have the estate planning they need, mostly because those families, in fact, think that they don’t need an estate plan in place. However, an estate plan can be about much more than a plan to distribute assets. For young families in particular, the recent article points out that designating guardians for minor children, if needed, is perhaps the most important point to pin down in an estate plan, usually in a will.
Another aspect of estate plans is, typically, a health care directive. This document can provide an outline of acceptable medical care, if needed, in the event that the estate planner is incapacitated and unable to provide such directions.
These points, however, a just a couple of examples of the issues that might come up during the planning process for any given estate plan. Many Pennsylvania residents will likely have different questions and goals for their own estate plans. But, with the right approach to the process, individuals and families can get answers to their questions and come out the other side with a solid, sound estate plan in place.