Estate Planning in its most basic form provides for the planned distribution of your assets upon your death. There are several purposes for this distribution. First, by planning ahead, your estate can reduce the impact of federal taxes on your estate. This will obviously leave a larger pool of money for distribution to your heirs. Second, by planning ahead probate of the estate can be avoided if that is the desired outcome. Often, probate is an unwanted process because of the likelihood of a will contest or assets that are scattered among several states. Third, a properly designed estate plan could also incorporate a Medicaid planning strategy to protect your assets during your life. Fourth, and most importantly, an estate plan is your chance to acknowledge the people, pets, and organizations that are most important in your life.
At the Law Office of Stephen Ross in Pottstown, Pennsylvania, we offer an initial consultation that allows you to see the benefits of having an estate plan. Subsequently, at your control, we will create the plan, implement the plan, provide written documentation showing you the nuts and bolts of the plan, and assist you with any changes to it as you progress throughout your life. It is how we apply the power of the law for you!