Your estate plan outlines exactly who you want to receive which assets after your death. There are several components to consider when you’re creating your estate plan. These include the will, trusts, a living will and power of attorney documents. Each estate plan...
Every Pennsylvania adult needs to have an estate plan. Estate planning may sound dry, depressing and boring. However, it's one of the most important things you can do for your loved ones. Generally, people know that an estate plan involves a last will and testament....
As families change, so do estate planning tools. One type of trust that has become increasingly common as more people enter into second or third marriages is the qualified terminable interest property (QTIP) trust. It helps people ensure that their surviving spouse...
You’ve worked hard and invested wisely over the years, so as you create your estate plan, you’re proud that you can leave your adult child a substantial amount of money. But are they prepared to handle it? Even seemingly responsible adults can be thrown for a loop...
Parents may wish to fairly and equitably provide for their children in the event of their passing. However, once a will enters into probate, the surviving siblings may fight things out in a Pennsylvania courtroom. Parents doubtfully want to see their children suing...
When you are doing your estate planning, one possible option you may consider for your beneficiaries is a specific type of trust. Incentive trusts are both motivational and conditional because the trust grantor (you) creates the terms and milestones the beneficiaries...
There are dozens of mistakes you could make while estate planning, from creating invalid documents to forgetting about important aspects of the estate you wanted to protect. There are three major estate planning mistakes that are among the worst, though, which you...
If you are getting married for the second, third or fourth time, it is important to take proactive steps to protect your assets. For instance, putting your Pennsylvania home into a trust can help to ensure that it won't be seized in a future divorce. It can also help...
Anyone who takes proactive steps to perform estate planning deserves some accolades. Many people do not perform any estate planning, setting beneficiaries up for potential problems in Pennsylvania courts. Signing off on several estate planning documents represents an...
When people hear about estate planning, many think it is only for rich people who draft a will to pass along their possessions to their loved ones. However, there is much more to it than that. First, it is not only for the wealthy. Second, everyone can benefit from...
