Probate is the legal process of transferring assets from a deceased person to their heirs and beneficiaries of their will. Every estate (the total assets and monies owned by the deceased) must go through probate, even with a will. Our Scranton, PA, probate lawyer can help you if you’ve been named the executor of a will and aren’t sure what your next steps are or if a close family member died intestate (without a will).
Probate lawyers can help in any number of ways. At Hoegen & Associates, P.C., we can assist with probate matters of all types, from explaining the process you, as the executor of a will or estate representative, to probate litigation in cases where you believe your loved one was a victim of undue influence when they wrote their will. Whatever your probate needs are, trust the experienced legal team at Hoegen & Associates, P.C. We’re here when you need us most—call today to learn more.
What Does A Scranton Probate Lawyer Do?
Our firm offers comprehensive probate services, working with you to achieve your goals. We take the time to get to know you and your situation so we can give you personalized advice in any Pennsylvania probate matter.
Contact us if you need help with:
- Identifying, locating, and gathering assets belonging to a deceased person, including bank and investment accounts, pensions and retirement savings, real estate, vehicles, art and jewelry, and other personal property. We value each item using expert assessors and often employ forensic accounts to ensure we have the full picture of your loved one’s assets.
- Overseeing asset appraisal, including real estate valuation and verification of provenance for artwork and similar items. We also verify the legitimacy of appraisals and estimates of an asset’s value.
- Collecting and managing life insurance benefits, including determining if there are outstanding policies (such as a policy from a former employer).
- Ensuring all of the estate’s assets are properly accounted for. We also offer asset management services during and after the probate process.
- Evaluating the merit of any debts a creditor claims against the estate, paying the debts, and preparing proper accounting of each payment.
- Drafting and filing all necessary legal documents, as well as maintaining proper accounting of all transactions enacted on behalf of the estate.
- Paying any necessary estate or other taxes and preparing tax returns for the estate in each year a return is required.
The remainder of the estate’s assets will be distributed according to the terms of the will or Pennsylvania intestacy and inheritance laws.
Solid Legal Advice For All Pennsylvania Probate matters
If you need help with probate, from advice and guidance on your duties as the estate representative or will executor to representation in probate litigation, trust the experienced attorneys at Hoegen & Associates, P.C. We offer professional insight into all probate matters and vigorous representation of your interests in probate court. Contact us today for a consultation with a Scranton probate lawyer from our firm.
Preparing For The Future By Establishing A Trust
Planning for the future is an essential part of protecting what we value most—our family, property, and financial legacy. Establishing a trust is one of the most effective ways to achieve this. It allows us to define how our assets will be managed, distributed, and protected, providing peace of mind. When considering trusts, it’s important to consult a legal professional, such as a Scranton, PA probate lawyer, to tailor the arrangement to your specific needs and ensure that all legal guidelines are followed. Trusts come in different forms, each designed for distinct purposes, but all share the goal of securing your future.
Why Trusts Are A Smart Choice
One of the primary benefits of setting up a trust is the control it provides over the distribution of assets. Whether we are looking to pass on wealth, support charitable causes, or care for loved ones after we are gone, trusts allow for detailed instructions and stipulations on how and when assets are disbursed. This flexibility is especially important when planning for children or grandchildren, ensuring that they receive their inheritance at a certain age or under specific conditions.
Additionally, trusts can help avoid the often lengthy and public probate process. Probate can delay the distribution of assets and may subject them to court fees and other expenses. With a properly established trust, your beneficiaries may be able to access their inheritance more quickly and privately, minimizing the stress associated with estate settlement.
Trusts And Tax Advantages
Another significant advantage of trusts is their potential to reduce tax liabilities for both the grantor and beneficiaries. Depending on the type of trust, assets transferred into the trust may not be included in the taxable estate, thus lowering estate taxes. This can make trusts a particularly attractive option for individuals with substantial assets or those looking to leave a larger portion of their wealth to their heirs.
It’s also worth noting that trusts can protect assets from creditors or legal claims in certain situations. For families with concerns about future financial challenges or litigation, trusts can provide a layer of protection, ensuring that the assets remain intact for future generations.
Choosing The Right Trust For Your Needs
There are several types of trusts to consider, and selecting the right one depends on your goals. Revocable living trusts, for instance, allow us to retain control over assets during our lifetime while providing a seamless transfer upon death. On the other hand, irrevocable trusts offer stronger protection from estate taxes but limit our ability to make changes once the trust is established.
When thinking about establishing a trust, it’s essential to work with a professional like a Scranton probate lawyer, who can guide us through the process and help us determine which type of trust best aligns with our future goals. Whether it’s ensuring the well-being of loved ones, securing charitable donations, or simply protecting our financial legacy, having the right trust in place makes all the difference.
Taking The Next Step
Preparing for the future by establishing a trust is a smart and proactive decision that offers numerous benefits. By working with experienced legal professionals, you can create a plan that reflects your wishes and protects your family’s future. Since 1971, Hoegen & Associates, P.C., have been helping clients create personalized estate plans, offering guidance and support every step of the way. Contact us today for a complimentary consultation with a Scranton probate lawyer and take the first step toward securing your legacy.
