What is Estate Planning and Why Is It Essential? Pennsylvania Estate Attorney Explains

Oct 17, 2023

Estate planning, as explained by Kathleen Thomas, a seasoned Pennsylvania estate attorney, is the process of carefully determining how your assets will be distributed after your passing. It’s an essential step for anyone who wishes to have control over the fate of their estate, ensuring their hard-earned assets are managed according to their wishes.

Why Estate Planning Matters

In Pennsylvania, estate planning becomes particularly crucial because, without it, the state’s intestacy laws step in. These laws have a predetermined order of asset distribution that might not align with your desires. For instance, a spouse may receive 30% of the estate, and children may split the rest. If there are no children, assets could pass to parents or siblings. These default distributions often fall short of what individuals truly want for their loved ones.

Protecting Your Loved Ones

Furthermore, estate planning offers you the opportunity to designate guardians, both for the care of your minor children and the management of their finances. This empowerment allows you to make important determinations about your family’s future and well-being. The cornerstone of estate planning is the last will and testament, which is pivotal in ensuring your wishes are carried out.

The Power of Your Will

Additionally, having documents like a durable power of attorney and a durable healthcare power of attorney is advisable, as they grant trusted individuals the authority to handle financial and healthcare decisions on your behalf if you become incapacitated.

Securing Your Future

In summary, estate planning is the means by which you secure the future of your assets and your family, ensuring that your wishes are followed. It’s an essential step that every individual should consider to achieve peace of mind and financial security. Kathleen Thomas and other estate attorneys stand ready to assist you in crafting an estate plan that reflects your unique wishes and safeguards the financial well-being of your loved ones.

If you live in Pennsylvania, and would like to hire Kathleen for your Estate Planning and Administration Case or legal assistance, visit Kathleen Thomas’ profile on the Esquire Elite website here: https://www.esquireelite.com/attorney/kathleen-thomas/.

Disclaimer: The information in this article is not intended to be legal advice. Each situation is different, and the insurance laws in your state may differ from those discussed in this article. Please seek the advice of a professional for any questions related to your specific situation.

Kathleen Thomas

Kathleen Thomas

Pennsylvania Estate Planning and Administration Attorney

Kathleen M. Thomas is a highly accomplished attorney, specializing in municipal law and Pennsylvania Act 511 taxation. She serves as Special Act 511 Tax Counsel to townships like Lower Merion and Abington, offering invaluable tax consultation. Her extensive municipal experience, including roles as Act 511 Hearing Officer, showcases her legal acumen. Kathleen's dedication to fair tax proceedings and contributions as a lecturer highlight her commitment to professional growth. She's known for ethical standards and her legacy in municipal law, making her a trusted legal counsel and director, shaping the field's landscape with excellence.

Need an Estate Planning and Administration Attorney On Your Team?

Fill out the Form Below to Reach Out to Kathleen Thomas.

10 + 12 =