Legal Question in Wills and Trusts in Pennsylvania

I do not know who is selling this package. However, if you are asking this question of a lawyer, why don't you go to an estate planning attorney in your area instead of buying the package? Or why don't you ask the person/entity that is selling the package? More to the point, if you are asking this question but don't know the answer, then you SHOULD NOT buy the package until you educate yourself about wills and trusts and estate planning.

Now that you are divorced, you definitely need to revise your will/estate plan. I don't know what assets you have or if you have any children. I don't know what your estate planning goals are. I thus don't know if you should get a basic will or if you need a revocable living trust.

If you have real property in more than one state or more than $1 million in assets, probably you should have a trust. You still need a will. If you have less than $500,000 in assets, only have a house in PA, then maybe a will alone suffices.

There are many good articles on the internet (www.nolo.com has one for example) which discuss the differences between a revocable living trust and basic wills. You need to educate yourself on the differences and discuss them with an estate planning lawyer to decide which is better in your case.

Beware of hotel ballroom seminars that are "trust mills." These entities sell expensive estate planning packages. Beware also of programs that have fill in the blank forms. These are generic and while they purport to fit everyone, you need to know what you are doing. If you don't, you could cause a big mess that will outweigh the costs of having a lawyer properly draft the documents and tailor them to your needs, not tthose of everyone in the world.

If you need just a basic will and related documents, the cost of a lawyer is more reasonable than you think. Trusts can range from anywhere between $1500 and $2500 or more, but the cost will depend on how complicated the trust is, tax planning and what kinds of property you have and where and the laws of your state..

At a minimum, your estate planning package should include: a will or revocable living trust; a durable financial power of attorney in the eveen you are incapacitated; a healthcare power of attorney in the event that you are incapacitated and an advance directive/living will which indicates whether you wish to be kept alive on a machine or not.

And in answer to your question - you say you are divorced. So what do you think the answer should be? I am not being rude or snide, but if you no longer have a spouse, whether they are dead or you are divorced, then you need an estate plan for a single individual.

Your former spouse is entitled to nothing. You should note on any estate planning questionnaire that your are divorced and indicate the year and place.

The reason a lawyer needs to know this is that while you are married, a spouse has certain rights to take from your estate (called an elective share) if no provision is made for him or her in a will. The exceptions to this are if you have some kind of pre-or post marital agreement waiving such rights or divorce.

My estate planning practice is primarily concentrated in North Carolina and you probably ought to have a local attorney in Pennsylvania draft this, but I can prepare a basic will and powers of attorney for you if you desire for a reasonable fee.

Please contact my office if you are interested.

Email: [email protected]

Phone: (877)-893-3713