Have you ever wondered what would happen if you became incapacitated, unable to make decisions about your financial and medical affairs? This frightening scenario is why you should consider designating a power of attorney. Under Pennsylvania law, you have the ability to choose to appoint someone to run your affairs if you...
Category: Estate Planning
What is the Difference Between a Will and Estate Planning?
This is one of the most common questions that is asked of estate planning attorneys here in Pennsylvania. Many people think that they can cover everything they need for their heirs with a basic will, foregoing the complexities that are addressed in comprehensive estate planning. However, unless you are someone who has...
Understanding the Responsibilities of an Estate Executor
There are few things that demonstrate trust and respect quite like being named the estate executor for a close friend or relative. This person is placing his or her faith in you to make sure that their final wishes are fulfilled, especially with respect to the distribution of estate funds to their...
Pour-Over Wills and Living Trusts: A Comprehensive Estate Planning Strategy
If you are like most people here in Pennsylvania, you are going to be concerned about providing for your loved ones after you are gone. This is why estate planning is so crucial. You are going to want to make sure your estate has been set up in such a way that...
Why You Should Avoid DIY Estate Planning
America has been undergoing a DIY craze where folks feel empowered to “do it yourself,” whether it comes to making fancy French pastries or major home improvements. But when it comes to estate planning, you should definitely think twice. This is not like going to Lowes or The Home Depot and asking...
What Happens When You Die Without an Estate Plan?
Many people have taken steps to provide for their loved ones for when they are no longer here. Whether they set up a will or a trust, they have taken estate planning steps to make sure that issues are addressed to ensure the payment of expenses and the smooth transfer of assets...
Charitable Remainder Trusts: Balancing Philanthropy and Estate Planning
A charitable remainder trust (CRT) is a type of trust that allows you to contribute to a charitable cause while receiving a financial benefit. When you create a CRT, you transfer assets—such as cash, stocks, or property—into the trust. These assets are then invested, and the trust pays you or another designated...
How to Plan Your Estate as a Single Senior
An increasing number of seniors in Pennsylvania can be best described as single. They reach their retirement years having never married or had children. If this describes you, then you probably think you may not have any estate planning needs. You don’t have children or a spouse to consider, and your relatives...
Tips for Discussing End-of-Life Planning with Aging Parents
Life is filled with difficult discussions. We are often faced with speaking to loved ones about unpleasant and uncomfortable topics. One of the most difficult is end-of-life planning for your aging parents. Nobody likes to face their mortality, and having this talk with your parents can be one of the most difficult...
Charitable Giving and Estate Planning: Strategy for Donors
If you are like many people, you like to give to your favorite charities. This may be in line with your personal philosophy or religious beliefs, or just that you support certain causes. No matter the reason, charitable giving is a great way to help others. An added benefit is that giving...