Wills and trusts are two components of an estate planning strategy. While many Pennsylvania residents have straightforward wills that leave everything to their surviving spouse or children, trusts take more effort to create and perhaps manage. Estate planning The...
Talking about estate planning with your Pennsylvania family may involve difficult discussions about death and end-of-life plans. You may be reluctant to have those conversations with your loved ones, but they will benefit the most from having those tough...
Although discussing death with your spouse may make you uncomfortable, one of you will likely live longer than the other. Choosing a proper estate plan in Pennsylvania protects the surviving spouse financially. Children may also enjoy financial protection when you...
Estate planning is an agreement in which a person decides what will happen to their belongings after death. It is not only for wealthy individuals in Pennsylvania; just about anyone can use it. It offers more benefits like distributing assets, peace of mind, avoiding...
If assets remain inside of your Pennsylvania estate when you die, they will likely be subject to probate. In most cases, assets that have beneficiary designations attached to them will avoid this process. However, if a designation is not made properly, an item may...
A pour-over will is a specific type of will and testament designed to work with a trust-based estate plan. Pour-over wills can come in handy with the individual who created the trust does not transfer all of their assets into the trust and doesn't have a will to...
Regardless of how large your Pennsylvania estate is, it is a good idea to have an estate plan. At a minimum, you'll want to have a will that dictates who gets your property after you pass away. It may also be a good idea to have a trust to ensure that you retain some...
When coming up with an estate plan in Pennsylvania, one of the main issues to tackle is taxes. You need to know how much the state or federal government will take when your beneficiaries receive your estate. Here's a look at estate taxes that may apply in your estate...
Once you have completed your estate planning, that does not mean you never have to think about it again. Oftentimes, there are circumstances that call for you to make modifications. Taking the time to review your estate plan can prevent complications down the road....
The future is always so uncertain, but we can put ourselves in a position where no matter what happens, our families and our assets will always be protected through estate planning. If you live in Pennsylvania and have a family and any assets to your name, then you...
