There are different types of taxes that can diminish the value of your estate. These taxes vary by state. For example, some states (not including Pennsylvania) have their own estate tax. There’s also a federal estate tax for high-value estates. Pennsylvania is one of...
Adults have to ensure they set their estate plan up so their wishes can be followed when they pass away. One important thing to consider is that there may come a time when you can’t make decisions for yourself. Now is the time to think about what type of medical care...
There are numerous ways to pass financial assets on in an estate plan. You can put those assets into a trust and authorize distributions to a beneficiary. You can name the beneficiary in your will and leave them the assets directly when you pass away. You could even...
As people create their estate plans, they may have the option to create a trust. A trust is a legal document that can help protect the management and distribution of assets. A trust can sound a lot like a will. However, unlike a will, a trust can protect an estate...
Some estate plans are incredibly complex. People have the option of drafting a variety of different documents. They might fund a trust and create living documents in case of a medical emergency. Other people want to keep things as simple as possible. They might try to...
If you have never made an estate plan, the process can seem intimidating. The more you understand about estate planning, the better equipped you may be as you begin the process. Here are several facts to know before you plan your estate: Fact 1: Dying without a will...
Estate planning is a crucial undertaking as it involves the careful organization and distribution of one's assets and affairs to ensure that a testator’s wishes are fulfilled and their loved ones are provided for after their passing. It encompasses a variety of legal...
Estate planning is a comprehensive process that helps you organize your assets and outline your wishes for the future. One tool that’s used is a trust. Trusts offer a wide range of benefits that can be instrumental in fulfilling your estate planning goals. A trust is...
It's almost impossible to avoid probate completely. This process is necessary to validate the will, pay off debts, settle any disputes from creditors or any other interested parties of the estate and oversee asset distribution. Preparing for probate could help you...
The death of a loved one in Pennsylvania may raise a whole host of financial issues. This is especially true when they have left many assets in a safe deposit box. If you have been named as the executor of an estate, you will have to navigate this problem. There are...
