Debt is a common part of modern life, and most people will still have outside financial obligations left unpaid when they die. Those responsibilities will pass to their estates. The executors or personal representatives managing probate proceedings in Pennsylvania...
As you look over your estate plan, one tool that you don’t want to forget about is a trust. Trusts come in a number of forms, but they have a few important purposes. They can help you protect your legacy, control your wealth, pass on your assets and protect your...
You may have been appointed the executor of a family member's estate at some point in their life. If they recently passed away, then you have several matters you need to do as their executor. It is critical to act swiftly when upholding your duty as an executor. As...
When you think about estate planning, you may start with the assumption that having a will is enough to pass your property on after you pass away. The reality is that a will isn’t always enough to protect your assets or prevent certain assets from going into probate....
An estate executor is someone named in a will who ensures that your final wishes are carried out and your assets go to the heirs you designate. A successor trustee oversees a revocable trust you created if you become unable to do so or if you die. That successor...
There’s a big misconception out there about trusts and what they can (and cannot) do for an estate. A lot of people think that trusts can be used to avoid inheritance taxes – but that’s not actually true. Trusts can be used to minimize (and sometimes avoid) estate...
If you're considering a trust as part of your estate planning, one of the first decisions you have to make is if you want to use a revocable trust – often called a living trust – or if you'd like to use an irrevocable trust. They're similar in some ways, in that...
When your final living parent passes away, you know that you are going to get their assets in one capacity or another. These assets may be put in a will, put in a trust, given as gifts before they pass away or otherwise passed down to the next generation. If you have...
When your loved one passes away and leaves a large estate, there are many concerns for you to address. You will have to locate and secure all of the assets in the estate. More assets often means more debt, so you will have to take steps to locate and notify about the...
If you are starting a business in Pennsylvania, there are options when it comes to how you legally form it. However, each option comes with pros and cons. One of the most popular business formation types is the limited liability company or LLC. It is a popular choice...
This will close in 0 seconds