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September 2015 Archives

Tips for using safe deposit boxes within estate planning

Once an estate plan has been drafted, many Philadelphia residents are unsure where to store those important documents. Keeping them in the home is a common choice, but that leaves a risk that they could be damaged in the event of fire or flood, or could be accessed by an unauthorized party. For many, storing estate planning documents within a safe deposit box is a good option. However, there are some considerations to be made to ensure that these documents are easily accessible when the time comes to call them into action.

Change your perspective when considering heirs

For many in Pennsylvania, a primary focus within the estate planning process is to create a plan to distribute wealth equally among surviving children. This is an admirable goal, and one that can go a long way toward avoiding bitterness and resentment among siblings. That said, many parents take a very one-sided approach when it comes to estate planning and only think about what they would like to give, as opposed to what their heirs might like to receive.

Durable powers of attorney for unmarried couples

Young love is a powerful thing, and virtually every Pennsylvania resident can remember a time in which the possibilities of life seemed endless and future happiness felt like a certainty. While this is a normal part of early adulthood, young people must take care that they are not overlooking important needs while swept up in a committed but unmarried relationship. For such couples, durable powers of attorney offer a way of legitimizing one's partner as an authorized proxy in the event of an incapacitating illness or injury.

Beware of the risk of estate planning scams

Any time there is an exchange of money for services, there are individuals out there who are ready and willing to run a scam. This is true even within the field of estate planning. Most Philadelphia residents will turn to legal professionals to complete their estate planning packages, but there are some who will try to save money by using services that are not provided by a legal professional.

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Larmore Scarlett LLP

Larmore Scarlett, LLP
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