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March 2016 Archives

Consider the "estate" in estate planning

When some Philadelphia residents hear the word "estate," they may think about a mansion set in an expanse of green lawn, perhaps surrounded by grazing horses and with an large gate at the end of a winding drive. In reality, the word simply means the collected assets of an individual at the time of his or her passing. Virtually everyone has an estate, even though the contents of each estate will differ. In the same way, virtually everyone can benefit from estate planning, even though the level of complexity of those plans will also differ.

Baby Boomers may have unique estate planning needs

As the American population continues to age, individuals from the Baby Boomer generation are nearing or entering retirement. Boomers may have specific estate planning needs that are going unnoticed. A recent article takes a look at the unique scenario facing millions of aging Americans, both in Philadelphia and across the nation.

Providing guidance for an estate administrator gathering assets

Once a Philadelphia resident has completed his or her estate plan, a deep sense of satisfaction often follows. Knowing that the proper provisions have been made for those who will be left behind is very soothing to many people and checks off an important item off of one's lifelong "to-do" list. That said, there is another step that should be taken to assist one's designated estate administrator in gathering assets when the time comes.

A guide to advance health care directives for singles

Many single people feel that they do not need to address estate planning until they have a family to consider, or that they have yet to amass a degree of assets that would necessitate an estate plan. These individuals are overlooking an important component of estate planning, which is the creation of an incapacitation plan to be called upon in the event of a serious illness or injury. Advance health care directives are important no matter one's age or family status.

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Larmore Scarlett LLP

Larmore Scarlett, LLP
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