Estate Planning When Spouses Have Different Heirs
These days, many spouses divorce and remarry. Spouses may have had children with prior spouses or partners. All spouses have different parents and grandparents. It’s natural for spouses to want to provide for their current spouses when they die. Things get complicated...
Why You Should Update Your Estate Plan
Many people prepare their wills and then never change them. That’s a mistake. If you have a will, trust documents, powers of attorney, or other estate planning documents, you should review them periodically, especially after a significant life change. Your estate...
How to Ensure Your Children Get Your Estate and Not Your Ex-Spouse’s Family
It’s a very common situation. You and your spouse raise two wonderful children. You prepare wills and other estate planning documents to protect your children. Then the marriage goes sour. You and your spouse divorce. You’ll need to update your wills and other...
Estate Planning And Digital Assets
Many people are now investing in cryptocurrencies such as Bitcoin and other digital assets. Digital assets include more than currency. They also include your social media accounts, email accounts, and other accounts. If you don’t make sure that your executor or your...
Pa Inheritance Tax Explained
The Pennsylvania inheritance tax is a transfer tax. The tax applies to assets that are paid to a beneficiary. The amount of the tax is based on the value of the property and the family relationship of the beneficiary to the decadent. Therefore, one of the goals of...
Strategies for Avoiding Probate in Pennsylvania
Property that passes through probate generally includes the property a testator (the person who prepares a will) devises to specific heirs in the decedent’s will. Any property that passes to intestate heirs is also considered probate property. The advantages of...
Estate Planning Issues for New Parents
There's an incredible joy that comes with becoming a parent. The smile of a child affects parents, grandparents, aunts, uncles, and all other family members. Every parent wants their child/children to live happy and healthy lives. They treasure watching their children...
9 Common Revocable Living Trust (RLT) Mistakes
A revocable living trust is an estate planning tool often used in conjunction with a will. The main parts of a trust are: The creator of the trust. For example – the person who is planning for the day they die. The appointment of a trustee to manage the trust assets....
What Is Long-Term Care Planning?
Long-term care is a collection of different services meant to meet an individual's personal or health care needs during a specified period. The goal of such services is to help such individuals live a safe and independent life when they can no longer conduct their...