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If you are disabled or have a disabled family member or loved one, you can create a special needs trust. A special needs trust is a type of trust created to provide financial support and protection for individuals with disabilities in Pennsylvania. Disabled...
Having parents tell you they want you to serve as the executor of their estate will likely lead to a mix of emotions. There is the inevitable sense of pride that comes when your parents recognize that you are not only a capable adult but that they trust you with the...
When most people think of estate planning, think about detailing their wishes for after death. When crafting a comprehensive estate plan, you should also address your wishes for incapacitation, not just death. An advance directive, also referred to as a living will,...
After creating an estate plan, many people mistakenly believe that this is where the process ends. However, that is far from the truth. In reality, an estate plan is an ongoing project that requires constant monitoring and updates. But how does a person know when it...
Choosing an executor for your estate is a significant decision that demands careful consideration. The executor will manage your assets and distribute them according to your wishes after you pass away. However, circumstances may arise that necessitate you to select a...
Appointing guardians for your children may feel like one of the hardest parts of estate planning. How do you decide who to trust with such a responsibility? While you should always discuss the designation with the potential guardian before naming them, there are some...
Did you know that more than 60% of the people in the United States die without a will or any kind of direction for their grieving families? Not only can this cause division and disagreements within the family, but not having an estate plan also has legal...
When you create a power of attorney, you sign a legal document that designates another person as your representative. This person can then make legal decisions for you. A durable power of attorney grants this power to an agent even if you are unable to make decisions...
Your estate plan should include more than just your wishes upon your death. In fact, you should also consider your needs if you become incapacitated and unable to make decisions for yourself. A durable power of attorney is an important tool in that case. There are a...
A revocable trust is not permanent. The grantor (who owns the trust) can change or reverse it at any time. This has several advantages and a few disadvantages. What are the advantages of a revocable trust? The biggest advantage is that your loved ones can avoid the...