How to Get Started with Drafting Your Will
- Hire an Experienced Wills Attorney: The attorneys at Distasio, Kowalski & Yelen have 25+ years of experience in the field. DKY attorneys are well-respected legal professionals with vast experience in drafting wills and estate planning.
- Organize Your Information: Create a comprehensive listing of your assets, including real estate, bank accounts, investments, and personal property.
- Decide on Beneficiaries: Decide who will inherit your assets, whether they are family members, friends, or charitable organizations.
- Select an Executor: Choose a reliable person to execute your will and manage your estate.
Consider Guardianship: If you have minor children, choose a guardian to care for them.
- Consult With Your Wills & Estate Attorney: Meet with your wills attorney to discuss your wishes and provide the necessary information. They will help you draft a legally sound will that accurately reflects your intentions.
What Should be Included in a Will?
- Personal Information: Your full name, address, and date of birth.
- Executor Details: Name and contact information of the person you appoint as executor.
- Beneficiaries: Names and details of individuals or organizations to receive your assets.
- Guardianship: Names of guardians for minor children, if applicable.
- Asset Distribution: Specific instructions on how your assets should be divided.
- Debts and Taxes: Instructions for paying off debts and handling inheritance taxes.
- Funeral Arrangements: Any specific wishes regarding your funeral or burial.
- Signature and Witnesses: Your signature and the signatures of witnesses, as required by state law.
Legal Requirements for Wills in Pennsylvania
In Pennsylvania, a will must meet specific criteria to be legally valid:
- Age and Capacity: The testator (person making the will) must be at least 18 years old and of sound mind.
- Written Document: The will must be in writing.
- Signature: The will must be signed by the testator or by someone else in the testator's presence and at their direction.
- Witnesses: While Pennsylvania does not require witnesses for the will to be valid, having two impartial witnesses can help prove the will's validity if it is contested.
What Happens if I Die Without a Will in Pennsylvania?
Dying without a will or intestate means that your estate will be distributed according to Pennsylvania's intestacy laws. This can result in outcomes that may not reflect your wishes:
- Spouse and Children: Even if a spouse and children survive you, your estate is divided according to specific state guidelines and not necessarily in the way you would prefer.
- No Direct Heirs: If you have no direct heirs, your estate may go to more distant relatives, which might not align with your preferences.
- Court-appointed Guardians: If you have minor children, the court will appoint guardians, which may not reflect your personal choice.
- Minors or Special Needs: If your heirs are minors or special needs, they may gain access to money at a time when they are not capable of managing it.
Do I Need an Attorney for My Will?
While it is possible to draft a will without a will lawyer, it is not advisable. The benefits of hiring a wills attorney far outweigh the risks of DIY wills:
- Legal Expertise: An attorney ensures your will meets all legal regulations and is less likely to be contested.
- Complex Estates: If you have a large or intricate estate, a blended family, or specific concerns, an attorney can provide specialized advice.
- Peace of Mind: Knowing that your will is professionally drafted provides peace of mind that your wishes will be honored.
- Minimize Inheritance Taxes: An attorney in Wilkes-Barre can help you plan to be sure you are paying as little as possible in inheritance taxes.
Powers of Attorney
A power of attorney (POA) is a critical component of estate planning, allowing someone to act on your behalf in specific matters:
- Healthcare Power of Attorney: Grants an individual authority to make medical decisions if you are incapacitated.
- Financial Power of Attorney: Authorizes your representative to manage your financial affairs.
- Durable Power of Attorney: Remains in effect if you become incapacitated.
- Limited Power of Attorney: Grants specific powers for a limited time or purpose.
A POA ensures your affairs are managed in accordance with your desires, even if you are incapable to make those decisions yourself.
Will vs. Trust
Understanding the distinction between a will and a trust is crucial in estate planning:
- Will: A will takes effect after your death and requires probate, a legal process to validate the will and supervise the allocation of assets.
- Trust: A trust can take effect during your lifetime and allows for the management and distribution of assets without going through probate. Trusts can provide more control over how and when your assets are distributed.
Contact and Experienced Wills Attorney in Wilkes-Barre
Drafting a will is vital in ensuring your wishes are honored, and your loved ones are provided for. Hiring an experienced wills attorney can make this process smoother, legally sound, and tailored to your specific needs. By planning your estate with a professional, you can protect your assets, minimize disputes, and provide clear instructions for the distribution of your property, giving you a sense of control and security over your future.
Contact a DKY wills attorney today https://dklawllc.com/contact-us/ for knowledgeable legal assistance with your will and estate planning needs. Their experience can guide you through the complexities of estate planning, ensuring your legacy is preserved and your wishes are respected. Take control of your future with a professionally drafted will and secure the peace of mind knowing your affairs are in order.