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There is a great deal of flexibility available in planning for loved ones’ inheritances. A grantor may wish to leave certain assets to assist in grandchildren’s college expenses. Perhaps an adult child is going through a divorce and an individual...
Estate planning does not refer simply to the act of leaving one’s material possessions to one’s heirs. In today’s modern society, there may be many unique circumstances that don’t fit that model. In addition, many individuals may want to plan...
Dying without a will is a highly undesirable prospect. In the case of marriage, a surviving spouse generally will inherit the assets. For singles, however, Pennsylvania state law will dictate which relatives should receive the decedent’s assets and property. In...
Readers may not realize that wills and trusts are not mutually exclusive estate planning documents. To the contrary, an attorney that focuses on estate planning knows that making a will can be a good idea even for individuals that have a revocable living...
One size may not fit all, at least when it comes to pre-printed legal forms. Unfortunately, the heirs in today’s story learned this lesson the hard way.Specifically, two heirs claimed that the distribution of property not specifically addressed by their aunt...
In the age of the Internet, it should not surprise readers to learn that several websites are available to help individuals with end-of-life planning. According to one reviewer, the approach taken by such sites is analogous to how one might plan for other big events,...
One purpose of estate law is to help individuals define how their assets will be distributed upon their death. Taking time to do things right may avoid the nasty surprise facing some beneficiaries of a home that is subject to a reverse mortgage.Notably, only elders 62...
Although an estate-planning document may be advisable for everyone, it is practically essential for a business owner. The recent estate questions surrounding the late Ralph Wilson Jr. illustrate this need.As professional football fans may know, Ralph Wilson Jr. was...
Readers of this blog may know that a certain value of their assets is exempt from estate tax. An estate attorney would refer to this value as the exclusion amount. In 2014, that amount is $5,340,000. Yet there may be other tax implications or concerns involving...
What happens when an individual is overtaken by sudden incapacity? An attorney that specializes in estate planning knows that undesirable consequences may follow, even if loved ones know that the individual would have wanted a different outcome.For example, if an...
