Lancaster Estate Planning Lawyer
There are a variety of reasons why you might need a lawyer at some point in your life. Finding a reliable and skilled lawyer can prove difficult. Derryberry & Associates has been serving the Lancaster area for over 15 years, specializing in real estate, estate planning, employment, and business law. We think you’ll immediately realize why this lovely community continues to depend on us for all of their legal needs, thanks to our broad range of expertise and professional, yet friendly approach.
Estate planning is a wise idea for anybody, regardless of age. Whether you’re just starting out in adulthood or approaching retirement, well-crafted estate plans provide more peace of mind than you could possibly imagine. If you need guidance from local estate planning lawyers near you, need help safeguarding your estate, wish to create an estate planning checklist to be sure you have all your bases covered, or want to prepare a will to plan for the future of your family and assets, reach out to Derryberry & Associates. Your personalized estate plan should clearly communicate your legacy and the message you wish to send to your loved ones. We’ll get to know you and walk alongside you to draft all the documents that make sense for your specific lifestyle, family, and assets.
When you begin the estate planning process, you need to make sure your lawyer is knowledgeable on estate planning law. Not all estate planning services are created equal. For more than 15 years, Steven Derryberry has been a local estate planning attorney. He and his team sincerely care about you, your family, and your wishes. He works relentlessly to tailor each estate plan to each client’s specific circumstances and to help their loved ones avoid probate. Perhaps you found us through an internet search for “estate planning attorney near you,” or maybe you were referred by a friend or family member. Regardless of how you discovered us, the privilege of assisting our customers through the personal and sensitive estate planning process truly humbles us.
Differences Between Wills and Trusts
The primary difference between a will and a trust is the time at which they take effect. Wills do not go into effect until a person passes away, while a trust functions throughout the person’s lifetime and after their death. Trusts are effective as soon as they’re drafted, but a will is essentially on standby until a person passes away. Transferring assets can be quicker and less complicated with a trust than it is with a will, and trusts typically go into more detail than a will. Many people elect to create both a will and a trust to ensure their every wish will be carried out upon death.
Most people believe they know how their loved ones will distribute and share their possessions when they pass. When you establish a living trust, you fully ensure that your wishes are carried out and your assets are distributed as you planned. Trusts provide several benefits, including divorce protection, tax benefits, avoiding probate, providing lifelong contributions to your children or heirs, and protection from creditors. Finding a compassionate and knowledgeable lawyer to create a trust is incredibly important, and you’ve found just that at Derryberry & Associates.
Irrevocable living trusts are different from revocable living trusts in several respects, and they aren’t suited for everyone. Without the approval of the beneficiaries, an irrevocable trust cannot be changed. You’ll be protected if you become disabled, probate will be avoided, and your privacy will be totally safeguarded, just like with revocable trusts.
Irrevocable trusts also provide advantages that revocable trusts do not. Trustees will pay less in taxes and will be protected against the trustor’s creditors. They don’t, however, have the same freedom as a revocable trust. They are far more complicated, and they force you to renounce asset control, putting you at the trustee’s mercy. Before deciding between these trust types, you should obtain legal counsel from a reputable estate planning attorney. We’ll work with you to weigh the benefits and drawbacks of each option and provide guidance as you make this critical decision.
Revocable trusts are the most prevalent form of trust due to their flexibility. Revocable trusts, sometimes known as living trusts, can be terminated or amended at any moment during the trustor’s lifetime. Your Lancaster estate planning lawyer can explain the advantages of this sort of trust, which include privacy preservation, avoidance of probate, protection in the event of incapacity, and asset control. A revocable living trust is a good choice because it usually works well with living wills, which are another popular and important part of the estate planning process.
The process of trust administration commences when a trust holder passes away. This process takes place in lieu of the lengthy and stressful probate process. A trust administrator oversees distribution of funds, debt payments, and other administrative tasks related to the trust itself. Our legal team is familiar with the entire trust administration process, and we know how important it is that it takes place in a timely manner. We’ll help you through this difficult and uncertain time, paying close attention to your loved one’s wishes throughout the process.
Trusts are an excellent way to distribute and safeguard your possessions after you pass. But what happens if there’s an issue with the trust? It can be difficult to pursue trust litigation, but Derryberry & Associates will provide you with a trustworthy trust litigation lawyer in Lancaster. Trust litigation is necessary for a variety of reasons, including the removal of a trustee and the replacement of that trustee, the recovery of misappropriated trust funds, the prompting of a trustee to distribute assets, and the assertion that the trust instrument was the result of undue influence, duress, or fraud, among others. Trusts should, in theory, be easy to manage. This, of course, is not always the case. Going to court without legal representation and sufficient support from a trust litigation attorney may be frightening – and it can be costly in the long run. Our legal team will provide you with the assistance you need, whether you’re a beneficiary or a fiduciary.
A will is an important legal document that details your specific wishes for your children and assets in the event of your death. When a will does not exist, surviving family members and loved ones may be uncertain about the decisions you would’ve made for your kids and property. A will gives clear, precise guidance to help facilitate proper distribution of any assets following your death. It is just one of many important parts of a complete and thorough estate plan. Your Derryberry & Associates lawyer will help you create a will that ensures all your wishes are strictly followed.
Probate is a court-supervised procedure. All of the deceased person’s assets will have their titles transferred throughout the process. There are some assets that do not require probate, but there are many others that do. Probate is notorious for being expensive, drawn-out, and time-consuming. You can easily avoid the burden of probate for your loved ones with the help of your skilled estate planning lawyer in Lancaster.
You’re undoubtedly feeling overwhelmed by what lies ahead if you’ve just lost a loved one who didn’t have a trust in place. We’re here to help if you need an Lancaster probate attorney to assist you with probate administration and guide you through this difficult period. Our probate attorneys will guide you through the complex and emotional process of probate. Your probate lawyer will walk you through asset distribution, funeral planning costs, and the rest of the probate process. There’s no reason to handle probate without legal help. Call Derryberry & Associates today and let us support you during this trying time.
When one person files a claim against another during the probate process, or when a dispute arises throughout the process, probate litigation ensues. If you want legal assistance to navigate the stressful and perplexing probate process, contact Derryberry & Associates, the most personable and trustworthy estate planning attorney in Lancaster.
When it comes to probate litigation, having an experienced attorney on your side is essential. Your probate litigation lawyer will not only go to bat for you, but will also guarantee that your loved one’s wishes are respected. Probate litigation can be used to remove a trustee, collect damages from a trustee, compel the trustee to produce a copy of the trust, and so much more. You’ve discovered the right law office to provide you with an experienced and thorough Lancaster probate lawyer, no matter why you’ve decided to pursue probate litigation. You don’t have to handle all of the court hearings, documents, legal jargon, assets, and difficult conversations on your own – simply contact your experienced probate litigation attorney at Derryberry & Associates.