Acquista Law Offices - 2525 West 26th Street, Suite 203, Erie, PA 16506 - Phone: 814-835-2121 - Fax: 814-835-0401

ESTATE PLANNING

At Acquista Law Offices we represent individuals, families and caregivers in a variety of estate planning services. We provide personalized services in an effort to understand and fulfill your specific needs and wishes. Our comprehensive estate planning services deal with assets during your lifetime and after death, including wills and trusts, and addresses the many concerns for you and your loved ones.

Everyone should engage in estate planning, including anyone who wants to ensure that as much of their estate is preserved as possible and anyone who wants to direct how their estate will be distributed and divided after their death. Typically, we see many clients after certain life-changing events occur, including illness, death of a spouse or other family member(s), marriage, divorce, elder care needs, birth of a child, or family vacation plans.

Our office can help with matters such as preparing comprehensive Powers of Attorney, Advance Directive (Living Wills), and simple Last Wills and Testaments. We can also assist with drafting trusts for control of money and assets either before of after death, including trusts for those with small children that want to handle their access to funds and set goals for their children in order to qualify for payment of expenses, including education costs. We also can have guardianships secured for incompetent family members or children when the circumstances arise.

If you would like to speak with Attorney Acquista regarding the firm’s estate planning services, please call Acquista Law Offices to arrange a consultation.

ESTATE ADMINISTRATION

Estate Administration is the matter of settling the final affairs and finances of an individual’s property after they pass away.

Relative to an estate administration, Probate is the matter of going to the court – in Pennsylvania through the Register of Wills of the Orphan’s Court Division of the Court of Common Pleas – and submitting a petition for Letters Testamentary if the decedent dies with a valid will, or Letters of Administration, if the decedent had no will at the time they passed away. If there was no will for the decedent, the next of kin is usually the appropriate person to apply for Letters. If the decedent had a will, the will should have named an “executor” (if a man) or an “executrix” (if a woman) to handle the affairs of settling the estate. A bank or other corporate “fiduciary” can act as the executor of an estate. A person appointed by the court to handle the affairs of the decedent who left no will is called an “administrator”. That person or entity, acts in a “fiduciary” capacity to the estate.

The executor or administrator, after an appointment, normally hires an attorney versed in estate law that will assist them in complying with the legal formalities of settling the estate. The executor or administrator will be charged with gathering all of the assets of the decedent – that includes real estate and personal property, including cash, stocks, bonds, insurance, jewelry, cars, etc. After payments of taxes and payments to proper creditors of the decedent’s estate, those assets are then valued and either distributed according to the terms of the decedent’s will or distributed according to a distribution schedule as defined under law. For example, if a man dies and leaves a wife and two adult children and no will, the wife is entitled to the first $30,000 and one-half of the balance of the estate of the decedent. There is inheritance tax due on the transfers through an estate, except in limited circumstances. In most instances, where life insurance is payable directly to a beneficiary, there is no tax of any kind due. Ultimately, there is a formal accounting of the estate to the court to formally conclude the estate administration and release the executor or administrator from personal liability.

This is just a framework for a simple estate. Many estate matters are more involved and much more complex than they may appear to the untrained eye.

Our law firm has helped hundreds of people in their capacity as executor or administrator of an estate. Handling the final affairs of a loved one or close friend can be a difficult and somewhat overwhelming task. At Acquista Law Offices our goal is to assist you in handling the estate in a caring and compassionate way. And, unfortunately, estate matters are much more complicated than they may first appear. Call Acquista Law Offices today and let us help you through this emotional process.

This site does not, nor is it intended to, provide legal advice. Readers should not act upon information without seeking professional counsel. Past performance does not guarantee future results as all matters are different. I do welcome your inquiries and look forward to hearing from you, however, please note the following: Electronic mail on the internet is not a secure form of communication and may be interrupted or intercepted. Acquista Law Offices is not responsible for any interruptions or interceptions of e-mail. Please do not include confidential or time-sensitive information in your e-mail communication at any time. Email communications will not establish an attorney-client relationship. Website and content Copyright © 2008 Acquista Law Offices.