We all have the right to determine what type of health care we want to receive or not receive. Sometimes, however, due to injury, illness, or simply the aging process, we run the risk of our healthcare wishes not being honored because we have not adequately communicated them and memorialized them in...
Advantages and Disadvantages of Irrevocable Trusts
Although it may be the best known, a will is not the only tool you can use to dispose of your assets. In fact, there are other beneficial ways to accomplish this, a trust being one of them. There are actually a variety of trust types you can utilize in your estate...
How Often Should Corporate Shareholders Meet?
How often do shareholders need to meet? This is among one of the most commonly asked questions from new business owners. The truth is, it depends, but it is typical for a corporation to hold several required formal meetings annually. The shareholders meeting is where corporation shareholders gather to not only discuss...
Why Plan for Business Succession?
Planning for core changes among a business’s key players is essential to help ensure its longevity. A business is not often placed in such a strong cone of uncertainty as when business leadership is up in the air. To calm the rough waters that can be in place when a business’s leadership...
Leaving Money to Heirs with Spending Problems
Most of us know someone with spending problems. Money management issues can come from being financially immature. It can come from being in an unhealthy relationship where they have little to no say in their finances. There may be an addiction issue at play. Regardless of the reason, struggling with spending problems...
Considerations in Drafting Incentive Compensation Plans
An incentive compensation plan can be a great motivator for your employees. In fact, with the right plan in place, you can effectively encourage those desirable behaviors in your employees and fairly awards them recognition for their contributions. In order to not only help ensure that your incentive compensation plan is effective,...
What to Include in Your LLC Operating Agreement
While an LLC operating agreement is not always required in some states, it is still a good idea to put one in place. After all, such an agreement will establish the guidelines for the management and operation of the LLC. Setting down the details of your LLC operations can be critical in...
What Happens When a Person Dies Without a Will?
Dying without a will is referred to as dying “intestate.” As such, a state’s intestacy laws will apply in the event that a person dies without a valid will in place. Pennsylvania’s intestate succession laws come into play to direct where a deceased person’s assets should go in the event that...
Guardianships in Pennsylvania
At some point, a loved one may become incapacitated due to injury, illness, or simply old age. Regardless, it could leave them unable to make critical medical or financial decisions for themselves. Without a legally designated decision-maker, their well-being could be put in serious jeopardy. In such a situation, a Pennsylvania guardianship...
What to Know About Will Contests
In the event that a decedent has a valid will in place, the will proceeds through the probate process and, eventually, the assets of the estate are distributed to the beneficiaries according to the terms of the will. Sometimes, however, the validity of a will is questioned. In this case, a person...