Bradford County Estate Planning Lawyer
Estate planning is not just about wealth – it is about protecting your loved ones and creating a lasting legacy. J. Wesley Kocsis, the attorney at Kocsis Law Office PC, has proudly helped countless families across Northeast Pennsylvania with every facet of their plan, including wills, trusts, establishing power of attorney and appointing guardians.
What Estate Planning Can Do For You
A thoughtful estate plan can help your family avoid confusion, reduce conflict and effectively respond to emergencies. J. Wesley’s estate planning services often include wills, beneficiary designations and guardianship planning for minor children. Planning can also address medical decisions through medical directives and living wills. That way, a loved one can have a thorough understanding of your health care preferences if you can no longer vocalize them yourself.
Planning For Incapacity And Protecting Your Assets
Many families overlook planning for incapacity after injury until it is too late. A power of attorney after injury can authorize someone you trust to handle finances, bills, and legal matters if a medical condition, injury or other related matter leaves you incapacitated.
Additionally, estate plans can also be beneficial for asset planning and protection, including long-term care planning considerations that may affect your home and savings.
When To Create Or Update Your Plan
The best time to update your plan can be after significant life changes. Those changes can include:
- Marriage
- Divorce
- A new child
- Buying property
- Retirement
- Changes in health
It’s also recommended to review your documents during estate planning after a serious accident, especially if you received compensation. If you worked with Kocsis Law Office PC on a personal injury matter, J. Wesley Kocsis can discuss estate planning for settlement funds and how to keep your plan aligned with your current financial picture.
Pennsylvania Estate Planning FAQs
If you are wondering whether an estate plan is worth it, get answers to these common questions that clients have:
Do I need an estate plan if I don’t have significant assets?
Yes, people can still benefit from an estate plan, even if they don’t have significant assets. An estate plan can:
- Name decision-makers
- Outline guardianship preferences
- Reduce stress for loved ones during emergencies
It can also help ensure personal items and any savings go where you intend.
What documents are typically included in an estate plan in Pennsylvania?
In Pennsylvania, many estate plans include a:
- Will
- Trust
- Financial power of attorney
- Health care power of attorney
- Medical directive
- Living will
- Guardian for the children
Depending on your needs, your plan may also address beneficiary designations and asset protection planning strategies. The right set of documents can depend on your family, goals and health concerns.
Should I update my estate plan after a serious accident or injury settlement?
It can depend on the circumstances, but in most cases, yes. Revising your estate plan after a serious accident may involve updating decision-makers, revising distributions and planning for incapacity after injury. If you received funds, estate planning for settlement funds can help you protect them and coordinate them with your overall goals.
Build, Modify And Protect Your Legacy Today.
Having an estate plan that reflects your goals, wishes and desires can offer you peace of mind. To learn more about how Kocsis Law Office PC can help you build yours, schedule a free consultation at J. Wesley’s Athens office by emailing or calling 570-882-4160.