Have you overlooked estate planning? You’re not alone: data from the AARP reveals that 60 percent of Americans lack essential estate planning documents. Wondering about the right time to embark on this journey? The answer is simple—start now. Our Mechanicsburg estate planning lawyer sheds light on Pennsylvania’s timeline for this crucial process.
You’re Never Too Young: Every Adult Needs an Estate Plan
Remember, the right time to initiate estate planning is today. Contrary to the misconception that it’s solely for the wealthy or elderly, every adult should have a comprehensive estate plan, regardless of age, financial status, or family structure. Estate planning extends beyond asset allocation—it ensures your protection during incapacity.
Elements of an Estate Plan in Pennsylvania
An estate plan is customized to your goals and needs. No one-size-fits-all approach here. Your estate plan should include:
- A Will: Your foundation, outlining asset distribution upon your demise.
- Durable Power of Attorney: Designates a decision-maker for financial and legal matters if you’re incapacitated.
- Healthcare Power of Attorney: Empowers someone to make medical decisions on your behalf.
- Living Will: Expresses your medical treatment preferences when you can’t communicate.
- Beneficiary Designations: Update your accounts like insurance policies and retirement funds.
- Guardianship Designations: If you have minor children, designate their guardian in your will.
Flexibility Amid Life’s Changes
Concerned that changes will make your estate plan obsolete? Fear not. Life’s dynamic nature is acknowledged, and your estate plan can be easily adjusted. Significant life events like marriage, parenthood, or property acquisition are opportune times for a review. Our Pennsylvania estate planning attorney can help you modify your plan to safeguard your rights and interests.
Consult Our Pennsylvania Estate Planning Attorney
At Keystone Elder Law P.C., we’re committed to empowering clients through comprehensive estate planning. Call us today or reach out online for a confidential initial consultation. From our Mechanicsburg office, we provide tailored estate planning services across the wider region. Start securing your future now.