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September 2013 Archives

Mistakes in beneficiary designation can lead to probate

Growing old is inevitable, of course, and all people will reach that point eventually unless tragedy or illness intervenes. Residents in Chester, Pennsylvania, may have considered this fact and may have drafted an estate plan as a result. This is to ensure that when the time comes, their loved ones will remain financially secure. However, some of those estate plans, particularly those involving wills, may seem unfair or unclear to heirs, resulting in probate litigation will contests.

The value of trusts in securing the children's well-being

Nowadays, news of tragedies and crimes is constantly being aired in Chester, Pennsylvania. Many local people are starting to develop anxieties regarding their children's well-being. It makes a person consider taking preemptive measures that aim to protect and provide for their children if something bad should happen to them. These include naming a guardian and drafting a trust that the person feels is appropriate for the family's situation.

Why a will is important in estate planning

Many residents of Chester, Pennsylvania, are well aware that life is full of uncertainties. Disasters and catastrophes may strike at any time. A person will inevitably grow old and may pass away from illness. People with accumulated assets, especially those who have young children, generally want the family to be financially secure when his or her time comes. Unfortunately, some people are not able to make an estate plan before they pass away. As a result, the heirs are left with problems instead of assets.

Estate planning simplified

Transferring a person's estate is an important task, especially if there are a considerable amount of assets with significant monetary or sentimental value. As such, many residents of Chester, Pennsylvania, are focused on how they will distribute their assets through estate planning. Although most people think of wills when thinking of estate planning, estate planning actually involves a vast number of tools that play equally significant roles. As a result, for many residents, drafting an estate plan that may fit perfectly with their needs can be a complicated task.

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Larmore Scarlett LLP

Larmore Scarlett, LLP
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Kennett Square, PA 19348

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