Estate planning is the process of anticipating and arranging for the disposal of an individual’s estate with the intent of eliminating any uncertainties regarding the administration of the estate while maximizing the value of the estate by minimizing taxes and other related expenses. Estate planning at a minimum involves the drafting and preparation of a Last Will and Testament, Durable Financial Power of Attorney and an Advanced Healthcare Declaration and Power of Attorney for Healthcare. Advance planning may utilize Revocable and Irrevocable Trusts, Limited Family Partnership Agreements and Buy Sell Agreements. At Griffith, Lerman, Lutz & Scheib, we have the experience and knowledge to provide you with documents best suited to accomplish your planning goals.
Estate administration (Probate Law) is the process by which a will of a deceased person is proved to be valid so that their assets can be collected and managed, their debts paid and in due course the remaining assets retitled, transferred and distributed to the beneficiaries named in their Last Will and Testament. As with any legal proceeding, there are technical aspects to estate administration and Griffith, Lerman, Lutz & Scheib has the experience and knowledge to guide you through the probate process including probating the will, preparing and filing of all federal estate tax forms and Pennsylvania inheritance tax forms as well as federal and state fiduciary income tax returns, publishing the legal notices, notifying heirs and creditors, distributing the estate and preparing and filing formal and informal accountings.
