If you've ever bought a lottery ticket, you've probably fantasized about what you'd do the minute you got that multimillion-dollar check.That fantasy probably didn't include visiting a lawyer's office, but it's one of the first things you should probably actually do...
Your Lawyers For Life
Trust Administration
What’s the difference between irrevocable and revocable trusts?
Trusts were once thought of as something that only the very wealthy need have -- people of more modest means made do with ordinary wills to pass what they had on to their heirs.However, trusts are increasingly becoming the modern way to pass money on to the next...
Should you choose a professional to oversee a family trust?
The natural inclination when dealing with family money is to put a member of the family in charge of it.However, putting a family member in charge of a trust could be a recipe for disaster. Friendship and family bonds can often become strained once significant amounts...
Is your inheritance marital property in Pennsylvania?
If you inherit something of value or a large sum of money from a relative, is that yours to keep even in a divorce?Logically, you might think so. Legally, the best answer anyone can give you without looking into the exact situation is, "Maybe." This is why. 1)...
Life insurance trusts can be critical for special needs children
Families with special needs children are aware of the extra care and consideration that their children require. When the time comes to consider estate planning, families need to focus on structuring a plan that will ensure that the special needs child will be cared...
Avoiding conflict surrounding trusts and inheritance
Many Philadelphia residents will spend a great deal of time and effort constructing their estate plans. The end results will be comprehensive plans that makes use of wills, trusts and other vehicles to facilitate the transfer of wealth to their intended heirs....
Benefits of trusts versus a simple will
Virtually all Philadelphia residents are aware that they need to put their final wishes into writing. For many, the vehicle that they choose to complete this important step is a simple will. While wills do provide a basic level of estate planning coverage, there are...
Trusts can play a role in nursing care planning
When considering various estate planning options, most Pennsylvania families focus on how to pass assets to loved ones in a smooth and seamless manner. Many families fail to give proper consideration to the chance that a surviving spouse could end up requiring...
Is it possible to refuse a bequest or inheritance? p2
We are circling back to our March 31 post and the discussion of turning down gifts, bequests or inheritances. As we said, it is possible. There is no law that says you must accept a gift, that you must accept your deceased uncle's bequest of a painting you suspect was...
How can you or your heirs benefit from a trust?
Whether you live in Pennsylvania or another part of the country, you probably want to put your assets and money to the best use, both while you are living and after your death. Trusts, often overlooked, are one of the best ways to not only protect your assets, but to...