Whether you’re starting your career, raising a family or thinking about retirement, estate planning isn’t just for the wealthy or elderly. It’s for everyone. It’s about making sure your beneficiaries follow your wishes, your loved ones are protected and important decisions don’t fall into the wrong hands. In Pittsburgh, where families often stay rooted for generations, having a basic plan in place can save time, money and stress later on.
Here are a few questions we hear all the time, along with clear, straightforward answers.
Why does estate planning matter, even in your 20s?
Even if you don’t have a home or have children, an estate plan gives someone the legal right to make decisions if you are ever incapacitated. A simple will, healthcare directive and power of attorney can help protect you and your loved ones in an emergency.
Now that we’ve covered the basics, let’s look into the key documents you need.
What are the essential documents for a basic estate plan in Pennsylvania?
A basic estate plan in Pennsylvania doesn’t have to be complicated, but it should include a few key documents to protect your wishes and loved ones. At a minimum, you should have:
- A last will and testament: Specifies how your assets are distributed after death and names guardians for minor children in a legal document
- A financial power of attorney: Allows someone to manage your financial matters if you become incapacitated
- A healthcare power of attorney and living will: Grants someone the authority to make medical decisions for you, while a Living Will outlines your preferences for end-of-life care
These tools give you control over your finances and medical care, now and in the future. Without them, your family could face delays, court involvement or confusion about your wishes.
Now, if you move out of Pennsylvania, you might be wondering whether your estate plan will still be valid.
If I move out of Pennsylvania, will my estate plan still work?
It depends. Most documents will still be valid, but state law differs on things like probate, witnesses and notarization. If you relocate, you may consult with a local attorney in your new state to review your plan and they may be able to make sure that everything works as planned.
If you’re ready to take control of your estate plan, the next step is simple: act now to make certain everything is up to date.
What you can do next
Estate planning isn’t just something to hastily finalize, it’s a way to take care of the people you love and stay in control of your future. Whether you’re just beginning or updating an old plan, having the right documents in place can save your family from unnecessary stress and expense.
You might want to consider consulting with a local estate planning attorney who understands Pennsylvania’s specific laws. By taking action today, you’re setting yourself up for a more secure tomorrow.
