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Creating a will is one of the most important steps you can take to protect your loved ones and help ensure that your wishes are honored when you’re gone. Unfortunately, many people overlook seemingly minor details that can lead to confusion, delays or even legal...
When you’re thinking about planning your estate, trusts can give you more control over how your assets are managed and passed down. Two common types of trusts are revocable and irrevocable. Each comes with its own set of benefits and limitations. Understanding a...
A power of attorney and a will serve different purposes in estate planning. While granting power of attorney certainly gives the agent strong authority over the estate, a power of attorney cannot override a will. Each document functions in separate ways and applies...
Appointing multiple agents in a power of attorney can provide added oversight and flexibility, but it also introduces potential legal and practical challenges. Pennsylvania law allows individuals to name more than one agent, but careful consideration is necessary...
A spendthrift trust offers a unique way to protect assets and ensure beneficiaries use them wisely. This type of trust places restrictions on how beneficiaries access their inheritance, helping to manage money effectively and prevent poor spending decisions....
Estate planning is an essential process for individuals who want their assets and wishes handled according to their desires after they pass away. However, one important factor that can significantly affect estate plans is the issue of incapacity. This condition raises...
Charitable trusts are a great way for people to support causes they care about and leave a lasting legacy. These trusts can be set up as part of an estate plan. This allows people to give assets to charitable organizations after they pass away. In Pennsylvania, state...
Certain assets, such as life insurance policies and financial accounts, use beneficiary designations to identify heirs. Upon a person's death, heirs receive proceeds from these assets according to the beneficiary designation documents. Even a minor mistake can...
While it's uncomfortable to contemplate scenarios where you need a living will, having one in place is important. A living will is a legal document that outlines your preferences for medical treatment if you become incapacitated and unable to communicate your wishes....
Estate planning helps to organize everything for when you are no longer here. It is a way to ensure that your loved ones carry out your wishes properly. One of the most important aspects of estate planning is creating a will. It is helpful in a variety of ways during...