Caring for a loved one with special needs requires thoughtful planning and hard work, especially when it comes to ensuring their long-term financial stability and well-being. Pennsylvania families have the option of creating a special needs trust to protect and...
Estate Administration & Probate
Do I need a power of attorney, and how do I create one?
A power of attorney is a document that permits a person to act upon another person's behalf, usually in health, finances and business decisions. There are different kinds of powers of attorney, ranging from a limited power of attorney to a very comprehensive one,...
What constitutes a breach of fiduciary duty in estate planning?
Individuals who play a role in estate planning, including trustees, executors and others, have a legal obligation to always act in the best interests of the estate, trust, heirs or beneficiaries. The breach of this legal obligation is a breach of fiduciary duty....
What executors need to know about out-of-state assets
If you’re the executor of a relative’s or friend’s estate, you are probably grateful if they did some thoughtful estate planning to keep their assets out of probate court. This can make administering the estate easier and faster. What if you find out, however, that...
Specific times when you should update an estate plan
Estate plans need to be reviewed – and potentially updated – regularly after they are created to make sure that they are current concerning the assets that a person owns and the goals they want to accomplish. Instead of updating the plan every one-to-three years, you...
Minimize the cost of probating your estate with these steps
When Pennsylvania residents pass on, their dependents are often left to take care of their financial affairs. This is especially the case when the decedent dies unexpectedly. And if the decedent had no will in place, Pennsylvania intestate laws generally come into...
What happens to debts when a person passes away?
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...
A deceased loved one left multiple wills. Now what?
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...
3 mistakes people make when estate planning
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...
What risks does a Pennsylvania executor have during probate?
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...