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In today's digital age, people accumulate numerous valuable assets online, ranging from social media accounts and email addresses to digital photos and cryptocurrencies. These assets hold not only sentimental value but also financial and practical significance....
Creating an estate plan ensures that people carry out your wishes after you die. However, life is constantly changing, and so should your estate plan. These are the times when updating your plan is important to ensure it accurately reflects your current circumstances...
When it comes to wills and estate planning, misconceptions often circulate, leading people to make ill-informed decisions. Yet the topic is too important to brush aside. To improve your understanding of why you need a will, it is necessary to unravel the truth behind...
A revocable trust, also called a living trust, is a legal document created during your lifetime where you name a trustee to manage the assets you transfer into the trust. You maintain control over the assets and can change or revoke the trust at any time There are...
Creating a will is a huge step in ensuring that people respect your wishes. A will is a legal document that outlines how other people should handle your property and possessions upon your death. To navigate this process effectively, it is important to know the key...
When it comes to managing an estate, the role of an executor is important. An executor has the responsibility of carrying out the wishes of the deceased. However, not all executors act with the utmost integrity. Some individuals may exploit their position for personal...
AARP reported that only around half of adults have a power of attorney and those over the age of 72 are more likely to have one at about 83%. When creating a POA, you will have to designate an agent who will hold the power of the appointment. This is an important...
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...
The roles of an executor and a trustee play important parts in managing the affairs of a deceased person. However, while both positions involve overseeing assets and carrying out instructions, there are major differences between the two. Smart Asset describes three...