Most people in Pennsylvania who sit down to craft a comprehensive estate plan usually have several goals in mind, but one stands out: make things as easy as possible on your family and beneficiaries. After all, one of the main points of an estate plan is to lay out a plan for how you want your wishes to be carried out. That plan should be as clear as possible.
Oftentimes, we hear news stories about probate battles involving a deceased celebrity’s estate, and it is because that celebrity’s estate plan – if there was one – made things anything but easy. A recent news article pointed to the probate litigation involving the estate of music legend Aretha Franklin, and the fact that the legal battle was only just recently figured out after five years of litigation – ultimately leading to a jury trial.
Obviously, that is not the type of situation that anyone envisions when they draft an estate plan. Your estate plan documents – a will, trusts, power of attorney document, etc. – should be clear and concise, easy to understand and easy to follow. If those documents are not clear, you could be leaving a legal and financial mess for your family and beneficiaries.
Customize your plan
No matter whether you are a celebrity or not, all estate plans will be unique to the financial and family circumstances of the person who needs the plan. Your goals will be different from others, so be sure to customize a plan to fit your needs and to leave a clear path for your designated beneficiaries to follow.