Jump to Navigation

Executors & Fiduciaries Archives

What does the term "fiduciary" mean in estate planning?

Estate planning discussions contain a lot of terminology, which may be confusing to people unfamiliar with legalese. Before getting started on your question, you first need to know that if you are working with an estate planning attorney, he or she will be glad to answer any questions you have. Anytime you hear confusing terminology like trustees, executors and fiduciaries, you should never be afraid to ask your lawyer what these terms mean.

Handling real estate during estate planning

When structuring one's estate, it is important to address each and every asset type differently. For example, cash held in a savings account will be handled differently from an investment account. A treasured stamp collection will need a different approach than shares in a business venture. Real estate offers yet another type of asset, and Philadelphia residents should understand how to incorporate real property into the larger estate planning picture.

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.

Pennsylvania estate planning terminology can be confusing

Some Pennsylvanians may procrastinate concerning their estate plans because of a lack of understanding of the documentation and the applicable terminology. There may be misconceptions that are holding people back. Consulting with an attorney may provide answers and eliminate confusion about estate planning.

A shared goal within estate planning and prenuptial agreements

When a Philadelphia resident has amassed a considerable amount of wealth, handing those assets down to children and grandchildren is a source of pride. No one wants to envision a scenario in which an heir loses access to a chunk of his or her inheritance, but that is a risk that must be mitigated with proper planning. Fortunately, there is an estate planning approach that can help make sure that wealth passes down to the intended recipient.

Contact Us

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Subscribe To This Blog's Feed
Larmore Scarlett LLP

Larmore Scarlett, LLP
123 E. Linden Street,
P.O. Box 384

Kennett Square, PA 19348

Phone: 610-444-3737
Fax: 610-444-9532
E-Mail Us | Kennett Square Law Office Map

LexisNexis Martindale Hubbell Peer Review Rated For Ethical Standards and Legal Ability Peer Review Rated for Ethical Standards & Legal Ability | AV Preeminnent | Martindale Hubbell FindLaw Network