ESTATE PLANNING--FINANCIAL POA

Durable Power of Attorney

A Durable Power of Attorney allows you to designate an individual you know and trust to arrange for and manage your finances. Creating a Durable Power of Attorney provides an important written instrument where you, the principal, grant authority to your agent to perform acts on your behalf. A Durable Power of Attorney can avoid expensive and time-consuming court proceedings, not to mention the potential for someone you do not want managing your finances, to be assigned as your agent. The authority given to your agent is very broad and it must be witnessed and notarized to be enforceable. Agents are held accountable under Pennsylvania Law and the Power of Attorney can be revoked at any time. A durable power of attorney is a very useful but easily exploitable tool. It is critical that you select someone you thoroughly trust.

The Power of Attorney will not expire until it is revoked. It is a good idea, however, to review and update the Power regularly since some institutions are less likely to take a document that is several years old.

Estate Administration

Were you appointed the Executor or Executrix of an estate? I can help! The process of "probating the will" (meaning prove the will exists and is authentic) and administering the estate requires you to follow strict timelines, pay legitimate claims, pay taxes and file the Pennsylvania Inheritance Tax return for the decedent. The role of the executor is to do everything they can to honor the wishes outlined in the will and protect the value of the estate for all the beneficiaries. I can assist with the administration such as: court filings regarding probate and inheritance tax; identifying a safeguarding- assets and obtaining asset values for the estate; paying all legitimate liabilities; selling assets as necessary; final distribution of the estate to the beneficiaries. Pennsylvania assesses an inheritance tax which requires the preparation and filing of an inheritance tax return.

No Will? I can help! The process administering the estate will begin with obtaining death certificates and contacting other heirs (or at least obtaining their names and addresses so they can be served with a petition to administer the estate). Once we have the petition signed and verified we will be prepared to be appointed the Estate Administrator.

I work with the Executor/trix and Estate Administrators to provide as much or as little legal assistance with the estate administration as is feaseble and desired.

Personal representative should contact Attorney Carole Hendrick with specific questions.

Attorney Carole Hendrick can assure that all legal requirements involved in settling your affairs and
transferring property are met.

To contact Attorney Carole Hendrick, call 610-489-0295 or click here.

Estate Planning - Durable Power of Attorney

A durable Power of Attorney for finances allows you (the “principal”) to designate an individual you know and trust (your “agent”) to arrange for and manage your finances when you become incapable or incapacitated. Creating a Durable Power of Attorney avoids costly and time consuming court proceedings and the potential for someone you do not care for to be assigned as your agent.

The authority given to your agent is very broad and it is critical that you select someone you thoroughly trust. Agents are held accountable under Pennsylvania Law and the Power of Attorney can be revoked at any time.

The Power of Attorney will not expire until it is revoked. It is a good idea, however, to review and update the Power of Attorney regularly since some banks/institutions are less likely to take a document that is more than one year old.  It is important to check to confirm.

I can help you understand the implications, pros and cons of creating a Power of Attorney. to ensure that you do not find yourself being taken advantage of.  My Power of Attorney is clear and easily understood. 

To contact Attorney Carole Hendrick, call 610-489-0295 or click here.