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September 2016 Archives

Estate planning often includes digital assets

Some people in Pennsylvania may still be getting used to showing personal photos from a cell phone or computer instead of from a dusty photo album on the shelf. However, as technology develops and evolves, it begins to affect people's lives in surprising ways. One of those ways may be estate planning. While it is important to decide what will happen to one's tangible assets after one's death, digit assets may be something people neglect when making decisions about their estates.

"Modern Family" provides estate planning viewpoints

The hit television series "Modern Family" is a favorite among viewers and critics alike. Many in Philadelphia tune in every week to watch the antics of the Dunphy family. A recent article used the family dynamics at play on the show to illustrate the various estate planning options that many modern families face in the real world.

How to decide on estate administration duties

Once an estate plan has been crafted and is nearing completion, Philadelphia families must turn their attention to determining who will be responsible for carrying out the tasks outlined within the plan. These decisions are just as important as those laid out within the estate plan itself, as estate administration is a crucial part of turning one's intentions into reality. Not everyone is well-suited to handle the administration of an estate, and the best candidates are not always the ones that immediately come to mind.

Weighing the pros and cons of trusts and annuities

For some Philadelphia families, estate planning is not a simple matter. In cases where one child is struggling while his or her siblings are thriving, it can be difficult to know how to best pass on an inheritance. Some families consider annuities and trusts as estate planning options but are unsure of which path to follow.

Easing the process of gathering assets following a loss

For many Philadelphia families, the focus of estate planning efforts is on achieving a smooth transfer of wealth from one generation to the next. However, it is also important to give some consideration to the tasks that will be required of the person who is handling the estate. Gathering assets and distributing wealth to the designated heirs can be a stressful process, but families can take steps to make the task easier to accomplish.

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