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Business owners often worry about the legacy they may leave when they die. Often, their goal is to preserve the company long after they cease working there. Estate planning is therefore incredibly important for business owners who intend to leave a meaningful legacy....
When estate planning, you will use your health care power of attorney/health care proxy (proxy) to name an agent who will make medical decisions on your behalf if you become incapacitated, for example, if you become unconscious or mentally incompetent. This agent is...
Have you ever thought about what happens to your things after you are gone? It might seem far off, but planning now can make a significant difference later. Why is it important to have a clear estate plan in place to make your wishes known? Do you have to have an...
Discussions of estate planning often center on the impact that an estate plan has – or can potentially have – on those left behind when someone dies. Proper estate planning helps preserve resources for someone's family members or allocate assets for charitable causes....
Blended families, where there are children or spouses from previous relationships, have special challenges when planning for the future. Without a solid estate plan, there might be misunderstandings and disagreements over who gets what. How can you make sure...
Children with special needs rely on their parents for their well-being. Balancing the child’s medical, social, emotional, and financial needs is not an easy task. Government assistance programs like Medicaid are helpful, but they come with eligibility requirements....
Pennsylvania is among the few states that have an inheritance tax. This is a tax paid by beneficiaries on inherited assets. Even if a beneficiary doesn’t live in Pennsylvania, if the person who left the inheritance did live in the state (and the property is or was...
The decision to place loved ones in a nursing home is rarely easy. It's a process filled with emotions, concerns, and a desire to help ensure their well-being. Thankfully, quality nursing homes can offer exceptional care and a supportive environment for seniors...
People who have amassed considerable assets and those who have small businesses need to ensure they have an estate plan that accurately and legally relays their wishes regarding these concerns. With that said, creating a comprehensive estate plan is often a complex...
The lack of estate planning is a major issue in the United States. The majority of people don’t have an estate plan in place right now. It is true that people do tend to make these plans more often as they get older, but it’s also clear that many people are likely to...