Bucks County and Philadelphia Asset Protection & Estate Planning Attorney

Developing Effective Asset Protection And Estate Planning Strategies

Estate planning is an essential component of sound financial management. Not only can it provide you with peace of mind knowing your family is cared for, but the proper estate planning tools can minimize your tax burden today and the taxation on your heirs tomorrow.

With the proper use of deeds and trusts, your heirs can also avoid the time-consuming process of probate.

Since 1978, attorney Elliot Mark Olen has been helping clients in Bucks County, Pennsylvania, achieve their estate planning and business planning goals, providing assistance with wills, trusts and other asset protection tools.

When you are ready to work with an estate planning professional to protect your family's future, contact us to schedule a consultation with a Bucks County estate planning attorney.

A Range Of Options To Meet A Variety Of Goals

A cookie cutter approach to estate planning may work for people with few assets, but for clients with significant financial and property assets or a family-owned business, a customized approach is essential.

Understanding your estate goals is the first step in crafting an appropriate estate plan. It is unlikely that a simple will is going to be effective. More commonly we see that a combination of a will, trust and power of attorney is required. We can help with the drafting of wills and trusts, and guide clients through choosing someone to have their power of attorney.

There are many types of trusts available, depending upon whether you are seeking immediate tax advantages or greater control over assets during your lifetime, or you are addressing special needs of the beneficiary. Mr. Olen can explain the benefits of these and other types of trusts:

  • Revocable and irrevocable trusts
  • Irrevocable life insurance trusts (ILITs)
  • Generation-skipping trusts (GFTs)
  • Lifetime trusts
  • Qualified domestic trusts
  • Special needs trusts (for Medicaid planning purposes)
  • Credit shelter trusts
  • Disclaimer trusts (for families in the top 2.5 percent of income)

Estate Planning for Noncitizens

Clients with a noncitizen spouse need a qualified domestic trust (QDT) in order to properly transfer assets to that spouse. A simple will or other types of trusts will not be appropriate in this situation. We can help you implement a QDT.

Medical Decision-Making

We can help you address the questions of medical care, medical decision-making and financial decision-making should you become incapacitated. Attorney Elliot Mark Olen will work with you to document your preferences regarding when power of attorney and living will documents will take effect and what they will cover.

Additional Estate Services

  • Estate and trust aadministration: Our firm provides ongoing legal services to administer trusts and estates.
  • Will contests and trust disputes: As an experienced trial lawyer, Mr. Olen provides legal representation in estate-related litigation regarding wills and the management of trusts.
  • Business succession planning: It is essential that business owners establish a plan to protect their business in the event that an unforeseen event renders them unable to handle the business' affairs.

Contact Our Fairless Hills Firm Today

Contact our law office today to begin the estate planning process. We can be reached by calling 215-943-5343.