Many people carry debt throughout their lifetime. One question that sometimes comes up is what happens to those debts when a person dies. The answer is that it depends on several factors. The loved ones of a person who dies should understand a bit about what happens...
Maybe you’d been gently nagging an older parent to get their estate plan in place – for them to at least draft a will. When they passed away suddenly, you were surprised to find not one will but two or even more in their files or elsewhere in their home. What should...
Estate planning is a process that all adults need to tackle. For example, everyone should have advanced medical directives in place in the event of an emergency and a plan for their possessions after they pass away, even if someone perceives the value of their estate...
The executor or personal representative of an estate takes on a lot of work when they accept their role. They have to handle probate court proceedings, resolve someone's financial obligations and hand out inherited assets to beneficiaries. They must set aside personal...
Whether you want most of your property to go to your grandchildren instead of your children or hope to allocate resources to a charitable cause, you might anticipate that your family members will be unhappy about your estate plan. Those who feel upset about not...
Probate is the process of winding up the decedent’s estate, identifying their assets and designated beneficiaries, paying off debts and applicable taxes and distributing what is left according to their wishes or Pennsylvania intestacy laws. But as you probably know,...
The last thing you want is for your loved ones to have to deal with lengthy, and often costly, probate court proceedings after you pass away. If you’ve bequeathed them gifts in your will, you want them to have what you’ve given them without any stress or difficult...
As the executor of a loved one’s estate you understand that it’s your duty to secure their assets, handle the probate process and all that entails – but you didn’t count on having so many problems with the heirs. The loss of a loved one can trigger a lot of strong...
Most people think about their will when they’re discussing an estate plan. While the will is a valuable tool, it isn’t suitable for everything. Establishing trusts can help to ensure that your assets are handed out as you intend. Trusts have several benefits you...
Many people fall under the wrong impression about how complicated wills are to make. In theory, all you have to do is list out who your assets will go to after you die, but this is far from true. In practice, there are a lot of key details people fail to include. If...