Prepared To Meet Your Legal Needs
Entrepreneurs often equate business ownership to having a child. Tech pioneer Elon Musk is one of many successful business owners who has echoed this thought, comparing the demands of starting a business to the demands of feeding and caring for children. As such, it...
When it comes to matters of inheritance, the Commonwealth of Pennsylvania has specific laws in place to govern the distribution of assets and the responsibilities of beneficiaries. Inheritance law ensures a fair and smooth transition of property after the death of a...
Writing a will or trust is one method of leaving money to specific people. Making beneficiary designations in Pennsylvania is an alternative method of setting aside funds in a life insurance policy or retirement account. Opening most types of financial accounts gives...
Nobody enjoys paying taxes. Fortunately, you can use some estate planning strategies to lower future taxes for your heirs and other beneficiaries. This consideration is crucial in Pennsylvania, one of the few states with an inheritance tax. Strategies If you are...
If you don't make a clear estate plan in Pennsylvania, your descendants may fight over the estate. You might want to cover all aspects of your property in your estate plan and communicate your general ideas with your beneficiaries to prevent conflict after your death....
When Pennsylvania residents include living trusts in their estate plans, they often also draft pour-over wills. When an individual with a living trust and pour-over will passes away, all of their unallocated assets are placed or “poured” into the living trust....
Developing an estate plan is probably not on the minds of most Pennsylvania newlyweds. However, it is wise to take the time to create or review your end-of-life plans and documents soon after, if not before, you marry. Work on financial accounts first One of the first...
There are several misconceptions about estate planning, including the idea that estate planning is only for the elderly. When many Pennsylvania residents hear about estate plans, making a will, and creating an advanced medical directive, they assume that it’s...
A Pennsylvania executor is a personal representative of a decedent's estate, tasked with carrying out a decedent's last wishes. If the will fails to denote an executor or the named individual declines to accept, the probate court appoints someone, typically a close...
Most adults in Pennsylvania have heard that they need a will, but many never find the time to create the document. Thinking through how a will can help you may encourage you to act. Determine who is your executor Setting up a will allows you to name who will oversee...