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Preparing an estate plan is seen by many as a necessity. But for some people, estate planning can be very difficult to contemplate because it can lead to thoughts of the person's existence and ultimate passing on. The tasks and assets involved can also become arduous...
Living trusts allow a family to customize their estate planning based on their individual needs. They are also cost-effective in avoiding taxes and the probate process, which can be very expensive. The death of a loved one kicks off a complex legal and business...
When most people think of estate planning they probably picture traditional planning vehicles like wills, trusts, and advanced health care directives. Estate planning is an area of the law traditionally rooted in documents, calling to mind the image of an executor...
Outdated legal documents can wreak havoc on estate plans. Residents of Chester, Pennsylvania, are reminded to review their wills or powers of attorney to ensure that everything is up to date. Having an accurate and effective estate administration plan can prevent...
Sometimes the slightest error or a moment of forgetfulness can come back to haunt you years later, and the field of estate planning is no exception. Sometimes something as simple as changing a beneficiary’s name on an insurance policy can have drastic...
Younger folks in Pennsylvania might assume that they do not need a will if they do not have children or a significant amount of assets. However, a will is one of the most important estate planning tools that anyone over the age of 18 should have to protect their...
Last week we discussed a few basic benefits and drawbacks of having your estate go through probate, a process that transfers a person's property upon death. Probate can be expensive and time-consuming and it often leaves a decedent with less control over his or her...
If you've been looking into drafting or updating your estate plan, you have likely come across the term "probate." Probate is a court-supervised process that sorts out and transfers a person's property upon their death. Typically the decedent's property is collected...
In our most recent post we talked about the federal budget and some of the ways that it might affect estate planning. Some commentators have expressed concerns that the tightening of federal purse strings might shrink the arsenal of estate planning professionals,...
Many people have been closely watching the development of the federal budget, keeping an eye on how limited funds and the current financial climate may affect the budget. What many may not have thought of, however, is the implications the budget could have for their...
