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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...
Although it's nobody's favorite subject, your estate plan should not be ignored if you're a mother in Pennsylvania. As difficult as it may be, you want to provide for your children, particularly if they are still minors or have special needs. Consider what will happen...
As you approach retirement in Pennsylvania, estate planning becomes increasingly important. This is because you have accumulated a lifetime of assets, including your home, savings, and investments. You will also have developed relationships with family, friends, and...
Estate planning is one of the most important steps to ensure your loved ones are taken care of after you die. But it can also be confusing especially if this is your first time doing it. It's essential to understand the basics of estate planning before you jump into...
Nobody likes to acknowledge that they’ll be gone someday, but it’s crucial to face reality. This means creating an estate plan to leave assets to your Pennsylvania family and other beneficiaries. These situations warrant updating your documents. Marriage or remarriage...
When you get married, a lot of things change. You become responsible for another person, and you create a new family unit. One thing that often changes when people get married is their estate plan, which includes wills. It's important to have a will when you get...