Creating an estate plan is a major duty that every adult should ensure they take care of. Part of this involves outlining who will receive which assets, which can be done in several ways. Some people do this through their will, but that doesn’t provide protection for...
Estate planning is beneficial for the testator drafting documents. They can enjoy peace of mind and also protection from financial hardship in a personal emergency. Estate plans also help those left behind when someone dies by clarifying their wishes. Wills are among...
If asked, most people agree that estate planning is not just beneficial, but necessary. Yet many go through life without the peace and long-term security a sound estate plan can provide. Sometimes, looking at an issue from a broader perspective can be a catalyst for...
If you’re planning to leave your child considerable assets, potentially including a share in the property or the family business, you likely want them to have a solid prenuptial agreement when they get married. Even though inheritances are considered separate property...
The adage “nothing is certain but death and taxes,” which has been attributed to Benjamin Franklin, is still true today. Moreover, taxes can follow you and your loved ones after you’re gone. Unlike some states, Pennsylvania doesn’t have its own estate tax (although...
Estate planning is a major task that all adults need to address. While most people know that they should create a will, some may not realize that trusts are useful for more than just wealthy individuals. If you decide to create a trust, you’ll have to determine what...
Creating an estate plan is essential to managing your assets after you pass away or become incapacitated. Wills, a power of attorney and advanced healthcare directives provide peace of mind for you and your loved ones. Still, without certain provisions, your entire...
One of the biggest issues that beneficiaries and executors face is an outdated estate plan. Many testators go many years without updating their estate plans. As a result, an old estate plan may not include newer investments and changes promised by the testator. While...
Many people don’t create valid wills, which leads to dying intestate. Intestate can create a lot of difficulties for heirs. Without a valid will, there are no instructions left behind that detail the testator's last wishes and how they wish for their assets to be...
Creating an estate plan is one of the most important things you can do to provide for your family’s financial future. However, the thought of making one can seem like an overwhelming task. But once you understand the key components of what to include, you can break...