The effort you put into your estate plans now allows you to secure your legacy. In addition, you can use your estate plans to ensure that your wishes on a range of important topics will be upheld if you’re unable to address the matters yourself. Your estate plans are an investment in your family’s future and can also afford you considerable peace of mind. Our experienced Allegheny County estate planning lawyers at McMorrow Law welcome the opportunity to help you.
Probate, Wills, the Administration of Estates, and Estate Litigation
Probate refers to the legal process of ensuring that your will is legally valid and administering your estate. In your will, you’ll name an executor of your estate whom the court will almost certainly formally approve. Your executor will then guide the administration of your estate. This means ensuring that your estate is settled and that your wishes for the distribution of your assets, as expressed in your will, are carried out.
In Allegheny County, probate proceedings are conducted through the Register of Wills and Department of Court Records, Wills & Orphans’ Court Division in Pittsburgh. This is also where estate litigation occurs, which addresses disputes that arise during the administration of an estate.
Advance Healthcare Directives, Living Wills, and Healthcare POA
An advance healthcare directive serves as an umbrella that holds the legal documents that allow you to address final medical concerns or medical emergencies. The legal documents within your directive can include a healthcare power of attorney (POA). Their job is to make medical decisions for you in the event you can’t make them for yourself.
You can also include a living will, which specifies your end-of-life medical preferences. Your advance healthcare directive and your living will work together to help ensure that your related decisions are honored.
Inheritance Tax and Estate Tax in Allegheny County
Pennsylvania imposes an inheritance tax across all counties, and the amount levied depends on the relationship between the decedent and the heir. Consider the following examples:
- A spouse is exempt from inheritance tax
- Children under 21 are also exempt from transfers from parents
- Parents and their direct descendants pay 4.5 percent
- The decedent’s siblings pay 12 percent
While Pennsylvania does not have an estate tax, the federal estate tax applies to estates valued at $11.4 million or more.
Financial POA
Your financial POA allows you to name someone whom you trust to make financial decisions on your behalf in the event you can’t do so for yourself. This may be due to incapacitation or to your not being available to address the matter in person.
Our Experienced Allegheny County Estate Planning Attorneys Are Here to Help
Our knowledgeable Allegheny County estate planning lawyers at McMorrow Law appreciate the significance of your estate plans, and we will spare no effort in our quest to help you effectively address all your related concerns. For more information about everything we can do for you, please don’t put off reaching out by contacting us online or giving our firm a call at 412-407-2816 today.