Inheritance tax in Pennsylvania, a topic often thought of as complex, is a crucial aspect of estate planning that residents need to understand. Unlike many states, Pennsylvania imposes this tax on certain beneficiaries who inherit property, making it an important consideration for those planning their financial legacy. The tax rate varies...
Category: Estate Planning
What Are The Steps In The Estate Planning Process?
The thought of doing your estate planning can be daunting and emotional for many. Still, it is essential to consider it because ensuring your assets are distributed according to your wishes after passing is critical. While it can be intimidating to think about having legally binding documents written and executed, it is...
Estate Planning Tips To Avoid Beneficiary Disputes
How can you plan your estate to decrease the possibility of later arguments between your loved ones? Estate planning is a crucial step in ensuring that your assets are distributed according to your wishes, but without careful planning can lead to disputes among beneficiaries. You should take proactive measures during planning to...
Understanding The Orphans’ Court In Pennsylvania
The Orphans’ Court was organized as a separate entity in the 1600s to protect orphaned children and their right to the estate of deceased family members from claims and against abuses by stepparents and others. The Orphans’ Court in Pennsylvania is now a specialized division in Pennsylvania's Court of Common Pleas. It...
Assets Most Commonly Left Out Of Estate Plans
Creating a comprehensive estate plan ensures your wishes are honored and your loved ones are cared for after passing. However, people often overlook several key elements that can lead to confusion, disputes, or unintended consequences. Here are some commonly forgotten aspects that should be included in an estate plan:
Estate Planning Considerations For New Parents
When new parents in Pittsburgh welcome a child into their family, the joy and excitement can often overshadow the importance of planning for the future. However, estate planning is crucial to ensure their child’s well-being and security in unforeseen circumstances. By establishing a comprehensive estate plan, new parents can designate guardians, manage...
Estate Planning for Pittsburgh Entrepreneurs and Business Owners
Estate planning is a crucial consideration for entrepreneurs and business owners in Pittsburgh. It ensures that their business and personal assets are managed and distributed according to their wishes after they pass away or become incapacitated.
Key Components Of Estate Planning For Entrepreneurs and Business Owners
The Legal Validity Of Handwritten Wills
A handwritten will, known as a "holographic" will, can be legally valid in Pennsylvania under certain conditions. The validity and enforceability of such a will depend on several factors determined by the state's probate laws. Contact a Pennsylvania estate planning attorney about wills today.
Considerations When Determining...
Estate Planning for Cryptocurrency Owners
In recent years, cryptocurrencies like Bitcoin and Ethereum have surged in popularity, attracting investors seeking alternative assets and decentralized financial systems. However, many cryptocurrency owners overlook an essential aspect of wealth management: estate planning. It’s important to incorporate cryptocurrencies into your estate plan to ensure the smooth transfer of assets to your...
Long-Term Care Asset Protection Strategies
As individuals age, the need for long-term care becomes an increasingly pressing concern. Long-term care, whether provided at home, in assisted living facilities, or in nursing homes, can be financially burdensome, potentially depleting a lifetime of savings and assets. To protect your assets and preserve your financial security in the face of...