In Pennsylvania, individuals have broad discretion to dispose of their estates as they see fit. Therefore, Pennsylvanians often draft wills and other estate planning documents to keep property from passing through the commonwealth's intestacy laws. Sometimes, though,...
Even though the majority of Americans know what a will is, most are far less familiar with the power of living trusts. In reality, most Americans could benefit from using a living trust as a cornerstone of their estate plan, just like a will is. The two main varieties...
Trusts are valuable estate planning tools, and there are many types of trusts available under Pennsylvania law. All trusts require a trustee. The trustee’s job is to follow the terms of the trust, manage the trust’s assets, handle distributions and pay all necessary...
Estate planning encompasses a variety of factors. Much of it depends upon having the right documents filled out correctly and keeping them updated with the latest information. Two vital documents smooth out the process of estate panning and administration. Power of...
Your estate plan may include a digital executor and instructions to carry out specific wishes for your online accounts. If they contain digital assets, such as downloadable songs or books, you may need to list them in your will or trust, along with a beneficiary....
As you create your estate plan, you do not necessarily have to choose between a will and a trust. Because they are different documents that accomplish different things, many people include both in their estate plans. However, in some situations, it is better to have...
You work hard for the assets you have. Preparing a will can minimize probate costs and ensure the beneficiaries of your choice receive your assets according to your wishes. However, with a few more steps, you can take actions that allows you to enhance your estate...
According to a 2016 poll, only about 40% of American adults have a will prepared. Americans without a will might assume that by not naming any beneficiaries directly, those closest to them at the time of their death will be allowed to to determine the distribution of...
For some people in Pennsylvania and across the nation, a revocable living trust is an important part of their estate plan. While organizing your estate, you may want to consider the benefits of including such a trust in your plan, too. Since you can modify a revocable...
You might be tired of constantly hearing from estate planning experts how important it is to map out the administration of your estate while you are still capable of doing so. Yet the prospect of actually doing it can seem daunting, particularly because you do not...