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April 2016 Archives

Prince's presumed heirs in court just days after his death

Virtually no Philadelphia resident is unaware of the life and career of mega-star Prince. The musician recently passed away, and it appears that he may have had no estate plan in place to outline his wishes. His siblings (who are also his likely heirs) have filed court documents asking that a special administrator be assigned to the star's estate, which is the first steps in what is expected to be a long and arduous legal journey.

Estate planning for second and later marriages

Any time that a Philadelphia resident goes through a significant life event, there is a need to revise his or her existing estate plan. This is especially true when a second or subsequent marriage takes place. A new union not only creates new family ties, but it also serves as a reminder that it may be time to update or change previous estate planning measures.

Estate planning can protect an individual's social legacy

Not everyone approaches estate planning with the focus of passing down accumulated wealth to their children and grandchildren. In many cases, Philadelphia residents have spent a lifetime building their business or creating a body of creative work, and wish to preserve that legacy for the future. Even in the absence of a child or grandchild who is able or willing to take on those responsibilities, it is possible to structure an estate planning package that will allow one's work to live on, even after they have passed.

One way to help avoid an inheritance dispute

For many Philadelphia families, estate planning is a complicated affair. Often, parents wish to divide their savings and assets between their surviving children, but that division is not always equal. Passing along an unbalanced inheritance can cause a great deal of family strife, but there is a simple way to lessen the chance that siblings will engage in a lengthy and bitter inheritance dispute.

What to look for in an estate planning attorney

Some Philadelphia residents require the services of an estate planning attorney in order to create their wills or to structure a trust. Others need to find an attorney to initiate or defend against probate litigation. In order to make the best possible choice, it is important to understand that not all estate planning attorneys make probate litigation a significant part of their practices.

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Larmore Scarlett LLP

Larmore Scarlett, LLP
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