Planning Your Estate – Do I Need to Prepare a Will?

Wills and Estate Planning In Scranton, Pennsylvania
Date: January 25, 2022

Wills and Estate Planning In Scranton, Pennsylvania

Whether or not you have significant assets, everyone needs a will. A will is a legal document whereby an individual sets forth what happens to his property when he/she dies. Although you may not think about it often, most of us do want to control our property not only during our lives but also after we pass.

Most married couples that prepare wills each specify that the surviving spouse receives all of the deceased spouse’s property. But what happens when a married couple does not have a will and they each hold title to assets individually (not jointly)? Under those circumstances, in Pennsylvania, if the couple has children, the surviving spouse is entitled to the first $30,000 of assets from the deceased spouse’s estate. The remaining assets in the deceased spouse’s estate are then divided equally between the surviving spouse and the children. More than likely, this result is not the intent of the couple.

There is a multitude of other examples of how an individual’s wishes regarding the distribution of his property after his death was not carried out because he failed to prepare a will. Obviously, after an individual passes it is too late to prepare a will. The good news is there is a very simple solution to this problem. Everyone can and should prepare a will. If you do, you’ll be able to control what happens to your property when you die. If you don’t, you may unintentionally disinherit your spouse from a sizable portion of your individually titled assets and you lose all control over the distribution of your assets.

Speak With Our Reputable Estate Planning And Administration Lawyers In Scranton, PA Today

Our expertise in estate planning and administration is broad and varied. We work to help individuals, married couples, and business owners develop succession plans to effectively carry out their wishes and protect future generations. We can help your estate executor with the often-difficult task of seeing your estate through administration.

If you would like to begin exploring your estate planning options or have an existing plan that should be reviewed to determine whether new laws indicate that changes are advisable, we are here to help. Call our office today to set up a consultation with a skilled Pennsylvania estate planning and administration lawyer. Call DLP (570) C-A-L-L-D-L-P.

John Finnerty
Attorney Finnerty has been representing clients in Northeastern Pennsylvania as an Attorney with Dougherty Leventhal & Price, LLP for over 25 years.