New Cumberland Estate Planning Attorney
Estate planning is one of the most important steps you can take to protect your family, your assets, and your wishes for the future. Yet many people in New Cumberland, Pennsylvania, postpone creating or updating an estate plan until a major life event or family emergency makes planning urgent.
At Keystone Elder Law, P.C., we help individuals and families throughout New Cumberland and the surrounding Cumberland County communities develop comprehensive estate plans designed around their individual circumstances and goals. Our approach goes beyond simply preparing a will. We consider your financial situation, family relationships, healthcare wishes, potential incapacity, long-term care concerns, and the way you want your assets handled during your lifetime and after your death.
Whether you are beginning your first estate plan, reviewing an older plan, or dealing with a significant change in your family or finances, working with an experienced New Cumberland estate planning attorney can help you make informed decisions about your future.
Take the next step toward protecting your family and your future. Contact Keystone Elder Law, P.C., to schedule a consultation or call (717) 697-3223.
Estate Planning Goes Beyond a Will
A Last Will and Testament is an important part of many estate plans, but it is only one component of comprehensive planning. Effective estate planning can address what happens to your property after death as well as who can make financial and healthcare decisions if you become unable to make those decisions yourself.
At Keystone Elder Law, P.C., our estate planning attorneys can help you evaluate documents and strategies that may include:
Last Will and Testament
A will allows you to provide instructions concerning the distribution of assets after your death. Depending on your circumstances, it may also allow you to nominate guardians for minor children and designate the person you want to serve as your personal representative.
Powers of Attorney
A financial power of attorney can authorize a trusted person to handle financial and legal matters on your behalf if you become unable to do so. A healthcare power of attorney can identify the person you want making healthcare decisions if you cannot communicate your wishes.
Pennsylvania also recognizes advance directives and living wills as part of advance care planning. The Pennsylvania Department of Aging explains that these documents can communicate healthcare preferences and designate someone to make healthcare decisions when an individual cannot do so.
For additional information, review our Power of Attorney FAQ.
Trusts
Depending on your goals and circumstances, a trust may provide additional control over how assets are managed and distributed. Trust planning can be particularly useful when an individual wants to provide for beneficiaries over time, address special family circumstances, or coordinate asset distribution with broader estate planning objectives.
Living Wills
A living will can communicate your wishes concerning certain end-of-life medical treatment. When coordinated with other healthcare documents, advance planning can help your loved ones and healthcare providers understand your preferences.
Learn more about Powers of Attorney and Living Wills and how these documents can fit into an overall estate plan.
Estate Planning for New Cumberland Families
Every family has different concerns. A young family may be focused on protecting children and selecting appropriate guardians. Parents with adult children may be concerned about inheritances, family relationships, or protecting assets for the next generation. Older adults may have concerns involving retirement assets, long-term care, Medicaid planning, or incapacity.
Your estate plan should reflect those differences.
For families in New Cumberland, estate planning may involve several important questions:
- Who should receive your property after your death?
- Who should manage your financial affairs if you become incapacitated?
- Who should make healthcare decisions for you?
- How should your children or grandchildren receive their inheritance?
- Could a trust be appropriate for your circumstances?
- How can you protect assets while planning for potential long-term care?
- What Pennsylvania inheritance tax issues could affect your beneficiaries?
- What should happen to your estate if your family circumstances change?
These questions are why estate planning should be viewed as an ongoing process rather than simply signing a set of documents.
Why Pennsylvania Estate Planning Matters
Pennsylvania has its own estate, probate, and inheritance-tax rules, making state-specific planning important. Pennsylvania currently imposes inheritance tax based on the relationship between the person who died and the person receiving the property. The Commonwealth identifies rates of 0% for transfers to a surviving spouse, 4.5% for transfers to direct descendants and lineal heirs, 12% for siblings, and 15% for other heirs subject to the applicable rules and exemptions.
You can review current information directly through the Pennsylvania Department of Revenue’s inheritance tax resources.
Estate planning does not eliminate every potential tax or administrative obligation, but thoughtful planning can help families understand potential consequences before a death occurs.
What Happens If You Do Not Have an Estate Plan?
Dying without an estate plan can leave important decisions to Pennsylvania law and the court system. Without appropriate documents, your family may have to navigate legal and administrative processes at an already difficult time.
For example, without appropriate powers of attorney, family members may not automatically have authority to handle your financial affairs simply because they are your spouse, child, or other close relative. A guardianship proceeding may become necessary depending on the circumstances.
Without a will or appropriate beneficiary and trust planning, your property may pass according to Pennsylvania’s intestate succession rules rather than according to the distribution plan you would have selected.
Estate planning gives you an opportunity to make these decisions in advance.
Keeping Your Estate Plan Up to Date
Creating an estate plan is not necessarily the end of the planning process. Your documents should be reviewed when your circumstances change.
Major life events that may justify an estate plan review include:
- Marriage or divorce
- Birth or adoption of a child
- Death of a beneficiary
- Death or incapacity of an appointed agent or executor
- Significant changes in assets
- Buying or selling real estate
- Retirement
- Starting or selling a business
- Moving to another state
- Changes in family relationships
- Changes in tax or estate laws
Even if nothing significant has changed, periodically reviewing your plan can help determine whether your documents still reflect your current wishes.
For more information about the importance of maintaining an effective estate plan, read Why Estate Planning Matters at Every Stage of Life.
Estate Planning and Asset Protection
Estate planning and asset protection can overlap in important ways. For some New Cumberland families, protecting assets may be a central part of the planning process.
Asset protection planning may involve examining the ownership of property, beneficiary designations, trusts, business interests, insurance, retirement accounts, and other assets. The appropriate strategy depends on your individual circumstances and should be developed before a crisis occurs.
Long-term care is another consideration. Nursing home and other care expenses can significantly affect a family’s finances. Planning in advance may provide opportunities to coordinate estate planning with long-term care and Medicaid planning.
At Keystone Elder Law, P.C., our broader elder law approach allows us to consider estate planning alongside long-term care planning, Medicaid planning, asset protection, and other concerns that may affect your family’s future.
Probate and Estate Administration
Estate planning and estate administration are closely connected. A well-designed estate plan can help your family understand what needs to happen when you die, but someone will still need to administer the estate and address the applicable legal and financial responsibilities.
Depending on the circumstances, estate administration can involve identifying and valuing assets, addressing debts, filing required tax documents, communicating with beneficiaries, handling probate matters, and distributing property according to the governing documents and applicable law.
Pennsylvania’s Department of Revenue states that inheritance tax payments are directed to the Register of Wills for the county where a Pennsylvania resident decedent lived, and inheritance tax becomes delinquent after nine months.
Planning ahead can make the administration process more organized for the people you leave behind.
Why Choose Keystone Elder Law, P.C. for Estate Planning?
At Keystone Elder Law, P.C., we understand that estate planning is about more than documents. It is about helping you prepare for the future while protecting the people and assets that matter most to you.
Our legal services address a broad range of estate planning and elder law concerns, including wills and trusts, powers of attorney, living wills, probate and estate administration, Medicaid planning and asset protection, long-term care planning, special needs planning, and related matters.
You can learn more about the attorneys and professionals who make up our Our Team and the experience they bring to helping Pennsylvania families.
We also encourage prospective clients to review our client testimonials to learn more about the experiences of people who have worked with our firm.
Estate Planning Resources for New Cumberland Residents
Estate planning often raises questions that cannot be answered with a one-size-fits-all form. Education can be an important first step in understanding the issues you may need to address.
Keystone Elder Law, P.C. provides educational resources designed to help families learn more about estate planning and elder law. You can explore upcoming educational workshops or sign up for our newsletter for additional information.
Our common questions also address issues that frequently arise during estate planning and elder law consultations. For additional educational information, visit our blog.
Frequently Asked Questions About Estate Planning in New Cumberland, PA
Q. Do I need an estate planning attorney in New Cumberland?
A. Estate planning can involve wills, trusts, powers of attorney, healthcare directives, beneficiary designations, taxes, asset protection, and other legal issues. An attorney can help evaluate how these pieces fit together based on your circumstances and Pennsylvania law.
Q. What documents should be included in an estate plan?
A. A comprehensive estate plan may include a Last Will and Testament, financial power of attorney, healthcare power of attorney, living will, and potentially one or more trusts. The appropriate documents depend on your family, assets, goals, and circumstances.
Q. Is a will enough for estate planning?
A. A will is important, but it may not address incapacity during your lifetime. Powers of attorney and healthcare documents can provide instructions for financial and medical decisions if you become unable to make those decisions yourself.
Q. Do I need a trust in Pennsylvania?
A. Not everyone needs a trust. A trust may be useful depending on your goals, assets, family circumstances, desire for control over distributions, and other planning considerations. An estate planning attorney can help determine whether trust planning is appropriate.
Q. What happens if I die without a will in Pennsylvania?
A. If you die without a valid will, Pennsylvania’s intestacy laws generally determine how certain assets are distributed. The result may not match the distribution plan you would have chosen.
Q. How often should I update my estate plan?
A. There is no single schedule that applies to every person, but reviewing your estate plan periodically and after major life events is important. Marriage, divorce, births, deaths, substantial financial changes, and changes in applicable law may all warrant a review.
Q. What is a living will?
A. A living will is an advance directive addressing certain healthcare decisions and treatment preferences. It can help communicate your wishes concerning end-of-life care if you become unable to communicate those decisions yourself.
Q. Can estate planning help with long-term care?
A. Estate planning can be coordinated with long-term care and Medicaid planning. The appropriate approach depends on your health, assets, family situation, timing, and eligibility requirements. Planning before a crisis can provide more opportunities to consider available strategies.
Q. Does Pennsylvania have an inheritance tax?
A. Yes. Pennsylvania imposes inheritance tax on certain transfers after death, with rates varying based on the relationship between the decedent and beneficiary. Current Pennsylvania Department of Revenue guidance should be reviewed when evaluating a particular estate.
Q. How can I start estate planning in New Cumberland?
A. The first step is to discuss your family, assets, existing documents, concerns, and goals with an estate planning attorney. Keystone Elder Law, P.C. can help you identify the planning issues that should be addressed and develop a strategy tailored to your circumstances.
Protect Your Future With a New Cumberland Estate Planning Attorney
Estate planning is an opportunity to make important decisions while you have the ability to make them. Rather than leaving your family to navigate difficult legal and financial questions during a crisis, you can establish a plan that reflects your wishes and provides direction for the future.
Whether you need a basic estate plan or have more complex concerns involving trusts, asset protection, long-term care, Medicaid planning, estate administration, or special needs planning, Keystone Elder Law, P.C. is available to help.
If you live in New Cumberland or the surrounding Cumberland County area, contact Keystone Elder Law, P.C. to discuss your estate planning goals.
Take the next step toward protecting your family and your future. Contact Keystone Elder Law, P.C., to schedule a consultation or call (717) 697-3223.
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REGISTER HERE for LONG-TERM CARE PLANNINGPower of Attorney
A Power of Attorney can be used to give another person the right to sell a car, home, or other property in the place of the maker of the Power of Attorney. A Power of Attorney might be used to allow another person to sign a contract for the maker of the Power of Attorney (the person who makes a power of attorney is called the “principal”). It can be used to give another person the authority to make health care decisions, do financial transactions, or sign legal documents that the principal cannot do for one reason or another. With few exceptions, Powers of Attorney can give others the right to do any legal acts that the makers of the Powers of Attorney could do them themselves. A General Power of Attorney gives the “power of attorney Agent” or simply “Agent” (the legal name of the person who is authorized to act for the principal) very broad powers to do almost every legal act that the principal can do. When Elder Law Attorneys draft general Powers of Attorney, they still list the types of things the Agent can do but these powers are very broad. People often do general Powers of Attorney to plan ahead for the day when they may not be able to take care of things themselves. By doing the General Power of Attorney, they designate someone who can do these things for them.
Normal Powers of Attorney terminate if and when the principal becomes incompetent. Yet many people do Powers of Attorney for the sole purpose of designating someone else to act for them if they cannot act for themselves. It is precisely when persons can no longer do for themselves that a Power of Attorney is most valuable. To remedy this inconsistency, the law created a Durable Power of Attorney that remains effective even if a person becomes incompetent. The only thing that distinguishes a Durable Power of Attorney from a regular Power of Attorney is special wording that states that the power survives the principal’s incapacity. Even a Durable Power of Attorney, however, may be terminated under certain circumstances if court proceedings are filed. Most Powers of Attorney done today are durable.
Yes. At the time the Power of Attorney is signed, the principal must be capable of understanding the document. Although a Power of Attorney is still valid if and when a person becomes incompetent, the principal must understand what he or she is signing at the moment of execution. That means a person can be suffering from dementia or Alzheimer’s Disease or be otherwise incompetent sometimes but as long as they have a lucid moment and are competent at the moment they sign the Power of Attorney, it is valid even if they do not remember signing it at a later date. At the time it is signed, the principal must know what the Power of Attorney does, whom they are giving the Power of Attorney to, and what property may be affected by the Power of Attorney.
Any competent person eighteen years of age and older can serve as an agent. Certain financial institutions can also serve. There is no course of education that agent must complete or any test that Agent must pass. Because a Power of Attorney is such a potentially powerful document, agents should be chosen for reliability and trustworthiness. In the wrong hands, a Power of Attorney can be a license to steal. It can be a big responsibility to serve as an agent.
For Medicaid
Medicare is health insurance and covers medical services such as physician appointments, therapy, blood tests, x rays, medical procedures and hospitalization. Medicare will sometime pay for rehabilitation in a long-term care facility for a period of 20 to 100 days, but not longer. In long-term care, Medicaid covers the cost of ongoing support services for daily functioning, such as room and board in a nursing home.
Medicaid is a federal program that is overseen by the Center for Medicare and Medicaid Services (CMS). In Pennsylvania, Medicaid is called Medical Assistance and is administered by the Department of Human Services (DHS).
In Pennsylvania, Medicaid funds are not available to pay for assisted living or personal care.
For Medicaid to pay for care in a nursing home, an individual recipient must be determined to need a nursing home level of care by a physician and the local Office of Aging. An individual whose income is not greater than three times the poverty level may keep up to $8,000 of total resources, but may otherwise keep only $2,400. The cash value of life insurance counts as a resource, but one car and a residential home does not count as a resource.
What an amazing team you have!!! Taking charge and getting things done, but also being so understanding and compassionate
Empowering Clients with Holistic Planning at
Keystone Elder Law
At Keystone Elder Law, we believe that the physical, social, legal, and financial considerations of our clients all intertwine. We utilize an interdisciplinary approach to evaluate each area, which allows for the creation of a plan that addresses the concerns of the individual as a whole as well as the family. To this end, our model of practice includes a Care Coordinator (usually a nurse or social worker), whose expertise complements our team of attorneys.
When the road of life is smooth, decisions about legal and financial matters are easy to push aside for “a rainy day.” Planning ahead, however, will allow for more options as you view the map of where you’ve been and where you want to go. Don’t let a crisis limit your choices or derail your plans.
(717) 697-3223