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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...
Given how life changes in many ways over the years, you should make your last will and testament as current as possible. Since these shifts in your circumstances can be substantial or minor, you may wonder if adding a codicil is the best way to modify your will....
In the time right after a parent dies, you may find yourself struggling with being the executor of an estate. Learning about this process can help you handle any stressful moments and stay focused on what is important. By starting out with a clear plan of what you...
After a loved one passes away, the grief can be overwhelming, and disputes among family members can make a difficult time even more challenging. Often, these disputes revolve around the division of assets, interpreting the deceased's wishes or determining who should...
If an accident or illness left you incapacitated, how would you manage your medical and financial needs? If you add powers of attorney (POAs) to your estate planning tools, you and your family can enjoy peace of mind in the years ahead. The medical POA Also known as...