Blended families make up a significant portion of the American population, and estate planning takes on a different look when trying to account for the needs or expectations of all the children involved. While the documentation would look similar to what you find with...
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Estate Planning
Should you place your property in a trust?
If you own real estate, consider using a trust as part of your estate plan. Trusts can safeguard your property as you age. Furthermore, a trust can enable the transfer of ownership and help your beneficiaries avoid probate. Trusts and estate planning A trust is a...
Should you review your estate plan?
After creating your estate plan, you can leave it alone for a few years. However, you cannot leave it alone indefinitely. Though no laws exist that dictate how or when you should review your estate plan, many sources will agree on one thing: that you should do it...
What is manipulation of a testator?
The writer of a will is often the target of many forms of harassment, manipulation and even harm. This is because many people want to get their hands on the assets behind the will, or power of the estate itself. Manipulation is often one of the least obvious but most...
What 3 elements does a basic estate plan need?
Many adults across Pennsylvania know they need to craft estate plans, but many of them also neglect to do so, thinking they may not have enough time to do so or enough assets to make it worthwhile. If you place yourself within this category, know that even a simple,...
When do sibling disputes lead to court cases?
Probate adds an extra layer of tension to the lives of everyone involved. Not only does it mean you are likely dealing with the recent death of a loved one, but you must handle the stress of asset division and other aspects of an estate at the same time. This is why...
What is the perfect age to start your estate plan?
Many young adults hear the term "estate plan" and think that it is something to worry about later in life. The perfect time to start an estate plan is much, much sooner than one might think. Estate planning is not only for the elderly or the wealthy. While individual...
Include these 3 components in a simple estate plan
When you die intestate, or without a will, in Pennsylvania, it means the responsibility of distributing your assets and settling any liabilities falls on the state. This may lead to delays and other hardships for those you love. However, you may be able to reduce...
What should you know about estate taxes?
Ask any estate planning expert in Pennsylvania, and they will likely encourage you to identify those opportunities in the process that allow you to limit the liabilities that may face your estate. Some of those include planning to settle debts before your death and...
Revise your estate plan after divorce
Divorce is often a complicated and messy process. Separating two lives takes careful planning and patience. After a divorce, it is essential to take the next step in that separation by revising your estate plan. Reconsider guardianship If you have children with your...