When Pennsylvania residents decide to start planning their estates, they have options. A will and a trust are two common choices. Knowing how these estate planning documents differ can help when deciding whether you should have one, the other or both. Understanding...
TOD accounts and revocable trusts are valuable tools that you can use to create an effective estate plan. Both of these financial accounts avoid can probate, if not taxes. It's a good idea to learn about the benefits and limitations of each to know how to best...
Thinking about your own mortality is not something many people wish to do, yet estate planning for your Pennsylvania property and assets protects your loved ones. One of the most important issues that you and your heirs will need to consider is the tax basis of an...
Few people wish to think about their mortality, but circumstances might force someone to think about what happens if they die. Specifically, they may worry about their family members. If a primary earner passes away unexpectedly, the survivors could struggle with...
As children in Pennsylvania become adults, they watch as their parents become senior citizens. During this time, it's helpful for adult children to talk to their aging parents about estate planning. However, preparing to have these discussions can feel overwhelming....
Pennsylvania adults should prepare for the future by having an estate plan. Sometimes just having a will isn't enough. A testamentary trust can be another option for protecting your loved ones. What is a testamentary trust? A testamentary trust is established as part...
If you're opening a probate estate in Pennsylvania, understanding the steps to take should make it easier to complete. Getting this process done is a precursor to probate. Locating and following the last will and testament When a last will and testament has been made,...
Estate planning is a crucial process that takes careful consideration. For many in Pennsylvania, it involves the most important decisions that they will make in their adult life. It's something that takes time, patience, careful forethought, and ample research. Don't...
Law students take whole courses in law school about the ways in which people can own property. There are many different ways which you might have heard about, such as "fee simple" or "in trust." One such method is by life estate, which basically means that the person...
Estate planning is one of those things that we all know we should do but often put off. It can be difficult to think about our death and what will happen to our loved ones when we're gone. However, having an estate planning conversation is important, and it doesn't...
