Estate Planning Lawyer in State College, PA
Estate planning lets you control what will happen to your property, finances, and medical decisions if you die or become incapacitated. A properly prepared estate plan can safeguard your family, reduce court involvement, and ensure your wishes are legally enforceable. At Kreisher Marshall & Associates, our estate planning attorneys in State College, PA, can help you create a practical, personalized estate plan that provides clarity and security for you and your family. Contact us today to schedule a consultation.
Wills
A will details who will receive your assets and who’ll manage your estate after your death. In Pennsylvania, a valid will must meet specific legal requirements to be enforceable. A will also allow parents to nominate guardians for minor children. Without that nomination, the court decides who will care for your children.
Pennsylvania Inheritance Tax
Pennsylvania imposes a state inheritance tax on most estates. The rate depends on the relationship to the deceased:
- 0% to a surviving spouse
- 0% to charities
- 4.5% to adult children
- 12% to siblings
- 15% to other heirs
Proper estate planning strategies can help your family plan for inheritance tax and efficiently structure your assets.
Powers of Attorney and Living Wills
Estate planning is not only about death. A financial power of attorney allows someone you trust to manage your finances if you can’t act. This is arguably the most important document of the estate planning documents. A healthcare power of attorney lets another person make medical decisions for you. A living will (advance healthcare directive) states your wishes about life-sustaining treatment if you’re terminally ill or permanently unconscious. It works together with your healthcare power of attorney.
Without these documents, your family must go through guardianship proceedings in Orphans’ Court, which are time-consuming and costly.
Trusts
Trusts can help manage property during life and after death. Properly funded trusts can allow your assets to pass outside probate, reducing delays and administrative expenses. Trusts can help:
- Protect your minor children
- Manage assets for beneficiaries with special needs
- Preserve privacy
- Structure long-term distributions
Not every estate requires a trust. In some cases, however, it can offer flexibility and control that a will alone can’t.
Understanding Probate in Pennsylvania
Probate is the court process that validates your will and oversees estate administration. Probate matters are handled through the Orphans’ Court Division. The process generally includes appointing an executor, identifying and valuing assets, paying off debts and taxes, filing and paying any inheritance taxes, and distributing property. Planning ahead can simplify this process and reduce delays for your family.
Beneficiary Designations and Digital Assets
Life insurance policies, retirement accounts, and certain bank accounts transfer based on beneficiary designations, not through a will. Keeping those designations current is critical. Digital assets also require planning. Online accounts, financial apps, cryptocurrency, and stored business records require specific legal authorization for access. Coordinating titles, beneficiaries, and estate documents keeps your plan consistent and up to date.
Long-Term Care and Medicaid Planning
Estate planning typically overlaps with long-term care planning. Pennsylvania Medicaid rules affect how your assets are treated if you require nursing home care later. Early planning can help preserve assets for your spouse, structure your transfers legally, avoid unnecessary penalties, and provide more flexibility and financial security.
Keeping Your Plan Current is Crucial
Ideally, you should have your estate plan reviewed after:
- Marriage or divorce
- Birth or adoption of a child
- Death of a beneficiary
- Significant financial changes
- Moving to or from Pennsylvania
Regular updates ensure your plan continues to reflect your exact wishes.
How Our Estate Planning Lawyers Can Help You
Estate planning involves legal drafting, financial coordination, and long-term risk management. At Kreisher Marshall & Associates, we can develop an estate plan specifically tailored to your goals and family structure. We can help by:
- Drafting wills, trusts, and powers of attorney
- Preparing living wills
- Reviewing beneficiary designations
- Coordinating asset titles
- Addressing inheritance tax and probate concerns
- Planning for long-term care
We can also explain how probate works so you and your family understand exactly what to expect.
Start building an estate plan that’s clear, enforceable, and aligned with your wishes today by contacting us online or calling 814-458-6294 and scheduling your confidential case review with our State College, PA, estate planning lawyers.
