Planning for what happens to your property after your death involves more than deciding who should receive it. Depending on how you structure your estate plan, you may need to understand the different people responsible for carrying out your wishes and managing...
Many families are surprised to learn that Pennsylvania does not impose a traditional estate tax. Instead, the state applies an inheritance tax that may affect certain assets transferred after a person's death. While the concept sounds simple, Pennsylvania estate tax...
A power of attorney is a valuable estate planning document that can help you determine who will make important choices on your behalf. One example of this is using a medical power of attorney. If you cannot communicate with doctors due to a medical emergency, the...
Estate planning isn’t just about distributing assets to loved ones or deciding who inherits what. You also need to think about how those decisions will play out in real life. This means factoring in your family’s unique dynamics to help ensure that your plan reflects...
If you’re considering divorce or preparing to start the process, you may not be thinking about the estate plan you put in place when your first child was born or after a friend suddenly died in a car crash or of a heart attack. However, it’s important to review it....
When people think about protecting their wealth during estate planning, they often imagine shielding assets from external threats, such as creditors, lawsuits and taxes. However, the biggest risks can come from within the family itself. Not every loved one is equipped...
Despite its practical importance, estate planning often becomes an emotionally charged process. Family dynamics, personal attachments and past conflicts can easily cloud judgment, leading to decisions driven more by emotion than logic. While emotions are natural,...
There are many people who do not write a will until they are in their 60s. For instance, retirement often gets people thinking about the next steps or where their life is headed and what will happen to their assets in the next generation. It is very natural to write...
A living trust can offer many advantages when planning for your future. Unlike a will, a trust allows you to manage and distribute assets efficiently while you’re alive and after your passing. Understanding its benefits can help you decide if it’s right for you....
Non-fungible tokens, or NFTs, have become popular digital assets in recent years. As more people invest in NFTs, it's important to understand how to include them in an estate plan. Passing down NFTs involves unique legal considerations that differ from traditional...
