Families come in many forms, and blended families often bring unique dynamics that deserve careful consideration when putting an estate plan in place. When spouses have children from previous relationships, it’s crucial to ensure that family members are protected and...
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,...
Some of the most common estate planning documents, including wills, generally take effect when a person dies. Other documents protect people when they are incapacitated. An advance health care directive protects an incapacitated person and also provides support for...
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...
Estate planning used to focus mostly on money and tangible assets. People either wanted to pass their financial wealth down to the next generation or they wanted to leave them items that they had purchased with that wealth, such as real estate, homes, cars, art...
