Last Will and Testament. A Will is the foundation of every estate plan. It describes your intentions about how you want your property to be distributed when you pass away and provides instructions for how financial matters should be managed. Your Will designates beneficiaries and names an executor to conduct the terms of your Will. It should also specify a guardian for any minor children you have. Importantly, a Will only becomes effective at the time of death.

Financial Power of Attorney. A Durable Financial Power of Attorney gives authority to someone who will function as an agent on your behalf in the event you become incapacitated and cannot manage your financial affairs.

Medical Power of Attorney (Health Care Declaration or Living Will). This document allows you to set forth your preferences for medical treatment if you become incapacitated and cannot communicate your wishes to doctors. It designates a person to make healthcare related decisions on your behalf and specifies the type of medical care you want-and do not want-to receive.

Revocable Trusts. This is a type of trust that can be changed at any point during your lifetime. For example, you can modify it to add or remove beneficiaries, and to sell trust property. You can also transfer assets into the trust or take them out. With a revocable trust you are still in control of the trust while you are alive. Revocable trusts do not eliminate federal estate taxes or Pennsylvania inheritance taxes.

Irrevocable Trusts. Unlike a revocable trust, an irrevocable trust grantor no longer has control over assets when they are placed in an irrevocable trust. Irrevocable trusts cannot be changed, revoked, or terminated. Under some circumstances, an irrevocable trust may be a good planning tool for people who wish to reduce estate tax consequences and protect their assets.

Business Succession Planning. If you are involved with running a business, we can also assist you with business succession planning.

Estate Administration. With experience in the areas of estate and trust administration, our attorneys can guide and assist you throughout the entire probate and estate administration process.

We will make sure that all elements of your estate are addressed. For example:

• Commencing the probate process.
•  Collecting and liquidating assets.
• Preparing and filing all required legal notices.
• Resolving will contests and other estate litigation matters.
• Preparing and filing the required PA inheritance tax return.
• Calculation of inheritance tax amount due and payable.
• Preparation of informal or formal accounting.
• Preparation of the final distribution account in a quick and timely manner.

The McFall Law team offers our clients compassionate, skillful, and cost-effective representation in a wide spectrum of estate planning, estate administration and trust matters.

We know the law. We are good at it. What can we do for you?