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...
What Are The Executor’s or Estate Administrator’s Responsibilities Under The Inheritance Laws In Pennsylvania?
What happens when someone passes away in Pennsylvania without a will? And what does the appointed estate administrator need to do as part of their responsibilities? In Pennsylvania, as in other states, the interplay between inheritance laws and the role of the administrator is a crucial aspect of the probate and...
Why It Is Important To Update Your Powers Of Attorney
Updating your Power of Attorney (POA) in Pennsylvania is an important legal step to ensure that your affairs will be handled according to your current wishes in case you cannot decide for yourself. Whether your life circumstances have changed due to marriage, divorce, a move, or simply the passage of time,...