Category Archives: Estate Planning
Create a Special Needs Trust via Your Will in Pennsylvania
If you have a loved one with special needs, you may want to include provisions in your will that include financial support for that person after your passing. However, when an individual enjoys public assistance and benefits because of a disabling medical condition, there are financial factors for eligibility. You could disqualify your family… Read More »
FAQs About Creditor Claims in Pennsylvania Probate Cases
Creditors have rights with respect to the amounts due from a debtor, and these are not extinguished by the passing of the person who owed money. Upon death, an individual may owe on credit accounts, utilities, a mortgage, and many other bills. As such, as part of the key tasks of an estate administrator… Read More »
Will My Heirs Have to Pay Pennsylvania’s Inheritance Tax?
A common question we get from estate planning clients is, “Will my estate have to pay a ‘death tax’?” This usually refers to the estate tax, which is a levy on your right to transfer property upon your death. For most Carbon County, Pennsylvania, residents, the estate tax is not something they need to… Read More »
Tips for Talking to Your Parents About Estate Planning
Your parents were always around to help you grow and learn as a child, and there may come a time when you need to return the favor by talking to them about estate planning in Pennsylvania. Many people are well-aware of the importance of making arrangements for incapacity and death, but the statistics indicate… Read More »
Where Should You Store Your Will?
Creating a will provides enormous peace of mind. Should anything happen, you know who will inherit your estate and raise your minor children. However, a will is only effective if it is submitted to the probate court after your death. For this reason, you should spend some time making sure you identify a safe… Read More »
Consequences When You Do Not Have a Power of Attorney
The last will and testament may be the cornerstone of estate planning, but there are many other documents to consider to protect your interests. Some are effective during your lifetime, offering a way to plan for incapacity. A durable power of attorney under Pennsylvania law is one option that addresses your real estate and… Read More »
How Pour Over Wills Work in Pennsylvania Estate Planning
Even when you know the basics about wills, you might not realize that there are different types that may serve your needs and support other estate planning goals. One option is a pour over will, which works in conjunction with a revocable living trust. Pennsylvania law on wills include provisions on who may create… Read More »
4 Documents To Include In Your Pennsylvania Estate Plan
Estate planning is an uncomfortable topic for many people, and this is perhaps one of the top reasons they avoid taking the steps to create one. According to a study published by AARP, just 34 percent of American adults have prepared one or more components for an estate plan. In the study, 37 percent… Read More »
Choosing An Agent For Your Power Of Attorney: Factors To Consider
Your power of attorney is an important component of your estate plan, since it takes effect during your lifetime and helps you plan for incapacity. The Pennsylvania statute on durable powers of attorney (DPOAs) allows you to address both health care matters and your financial affairs in one document. As principal, you can appoint… Read More »
Things You Cannot Do By Will Under Pennsylvania Estate Planning Laws
Preparing a will is one of the most effective ways of protecting your legacy, reducing conflict among loved ones, and maintaining control over how your assets are distributed at death. Fortunately, the laws on wills allow you significant flexibility when accomplishing these goals. You can take advantage of many different options and structures, as… Read More »
