Estate Planning

What is Estate Planning?

Estate Planning is the process of determining what will happen to you, those under your care, and your assets in the event of your death or incapacitation. A good estate plan encompasses many components, including a Final Will & Testament, a Living Will, and documents assigning Power of Attorney.

Though losing a loved one is always difficult, a properly drafted estate plan can remove many burdens and worries from those you leave behind after you pass on.

How Can Fetter McDermott Help me Plan My Estate?

When planning your estate, it is very important to make your wishes known in a way that is clear and legally airtight. By letting the experienced attorneys at Fetter McDermott take care of the legal details, you can ensure that your estate is settled in a way that matches your intentions.

Final Will & Testament

Your will is a legally-binding statement directing who will receive your property after your death. It can also appoint guardians for your children or dependants and create trusts for the benefit of your loved ones. In Pennsylvania, your will serves as a roadmap for the probate process. As part of the process of drafting your will, you will assign an “executor.” The executor is a person, often your attorney, who is designated to carry out the wishes laid out in your will.

Fetter McDermott can help you write your will in a specific and legal way that will avoid any confusion among its beneficiaries. Our attorneys will advise you about what should be included in your will and the best ways to distribute your assets to minimize loss to taxes and other financial obligations. They can also act as your executor if you wish.

Living Will

Every estate plan should include a Living Will. A living will provides instructions to health care providers as to your wishes should you become terminally ill or incapacitated. It includes directives about how medical treatment should be administered, or not administered, to you under circumstances when you are not able to communicate your wishes directly. The living will might include instructions about whether or not to continue life support, or whether to refuse antibiotics or feeding tubes when in an incapacitated state.

In Pennsylvania and Lycoming County, Living Wills must comply with HIPAA (the Health Insurance Portability and Accountability Act), a federal law that includes provisions concerning the privacy of health care documents. The attorneys at Fetter McDermott can help you navigate this and other legal requirements while helping you make your living will as comprehensive as possible.

Power of Attorney

Even with a Final Will and a Living Will, there are still some decisions that will need to be made on your behalf, including signing legal documents, handling investments, and making gifts, among others. For these tasks, it is important to assign Power of Attorney to someone, granting them authority to act in your name under specific circumstances. When you grant someone power of attorney, they become your “attorney-in-fact.” You can assign an attorney-in-fact as many or as few powers as you wish, and you can specify when their power of attorney does and does not apply.

Assigning power of attorney can be a complex task requiring much thought and preparation. Fetter McDermott’s attorneys can help you by drafting a document that covers any situation that might occur that would require an attorney-in-fact. Make sure that your choice of attorney-in-fact is always honored with the help of Fetter McDermott.