Why Estate Planning Is Important
Aug. 15, 2022
Thinking about the estate planning process can be overwhelming. You may think that you will have to spend a lot of time and money planning for the future of your family while wondering, “What is the benefit?”
Our estate planning attorneys at Iwanyshyn & Associates are here to advise you on your options so that you can successfully create a plan that you and your family can be satisfied with. Get in contact with us today in Allison Park, Pennsylvania, to get started. We also provide our services to families in Pittsburgh, Wexford, Cranberry, and Gibsonia.
The Benefits of Estate Planning
Saves Time and Money By Avoiding Probate
In the long-run, estate planning can save you and your family a lot of time and money. By having a secure plan in place for the future, you may be able to avoid probate court, which means your family can receive their belongings quicker and lose less money. Establishing a trust is one way that individuals can help their loved ones avoid probate following their death. Reach out to us to learn how you can save time and money with your estate plan.
Protects Children and Beneficiaries
Nobody thinks of dying young, especially when they have minor children, but it does happen. If a child becomes parentless, you are able to name a guardian for your children in your will in the event of your passing. If no guardian is named, your children will become wards of the state and will be placed in foster care. Your children deserve the care that you have given them, which is why you can name a family member or friend that you trust as their guardian. Our estate planning attorneys in Allison Park, Pennsylvania, are here to help you make the right choice.
Avoids Big Taxes
While estate planning taxes are usually equated to the very wealthy, families with a lower net worth can be affected by big taxes as well. In the state of Pennsylvania, you can be hit with an inheritance tax of up to 15%. By creating a trust or an estate plan, you may be able to pass on your property and assets without having the government take a big portion of it. To learn how to protect your estate and loved ones, get in contact with our estate planning attorneys at Iwanyshyn & Associates today. We serve the areas of Allison Park, Pittsburgh, Wexford, Cranberry, and Gibsonia, Pennsylvania.
Avoids Family Drama
If you create a plan for what you want to happen to your possessions after your death, you may be able to save your family from confusion and fighting. By being specific with your wishes, the distribution of your assets and property can be handled smoothly and peacefully. If there is no estate plan in place, it leaves your family to wonder what you would have liked to happen to your possessions after your death. Your loved ones may feel entitled and possessive. Consult with our estate planning attorneys and set a plan in place for your family’s future.
Start Planning for Your Future Today
The estate planning process can be challenging to deal with by yourself. You need to make important decisions that can impact the quality of your family’s life for years to come. With an estate planning attorney from Iwanyshyn & Associates on your side, we will advise you on what steps to take that will benefit your family. Whether you need to create a will or a trust or need guidance through the probate process, we are here for you. Get started with us today and schedule a consultation in Allison Park, Pennsylvania. We also provide our legal services to families in Pittsburgh, Wexford, Cranberry, and Gibsonia, Pennsylvania.