Pennsylvania Legal Blog

Having a will prepared, even a basic one, is better than having nothing. Having a trust created is better still, for Pennsylvania residents who want to make sure their assets are truly protected and passed on as intended. However, a trust is only useful if it is funded. In the event a person fails to fund his or her trust, fully or even partially, a pour-over will can ensure property ends up in the right hands. If this type of will ends up being utilized, probate will be required.

What exactly is a pour-over will? It is different than a standard will. It is written in conjunction will a trust and only addresses the assets to be placed in the trust. The beneficiary named in this type of will is the trust, not a living heir. So, when one passes away, any property that was not adequately funded into the trust will be in the end.

Ending a marriage is costly, both emotionally and financially. Most people expect this, but many may not fully realize just how costly it is. From a financial standpoint, it is possible to lessen the blow if one prepares for divorce long before it enters the picture. Pennsylvania residents can do this by having marital contracts created either before or after they say their I do's.

A woman recently shared her story about the monetary losses she experienced because of her divorce. After 15 years of marriage, she and her husband decided to call it quits. When she entered the marriage, she brought with her a home that she bought herself. She assumed that it would be granted her in the divorce; however, at some point, she refinanced the mortgage and included her husband's name on the loan. When all was said and done, her husband was allowed to keep the home, which caused her to walk away without the $250,000 in equity she would have received had she sold the house and split the proceeds.

Numerous couples in Pennsylvania end their marriages every year. Many of them have children to consider through it all. When parenting through divorce, it is common for people to seek outside opinions on how to do so in a way that will not scar their children for life. While the advice on the subject may prove helpful for some, others may find it useless or even harmful.

There are a lot of books out there that offer guidance on how to help children cope with their changing family dynamic, many with good information. Most people also know someone who has been through a divorce already and is eager to share their advice on the subject. All of the information offered by friends, family and various authors can be overwhelming to take in.

Divorce can, at times, seem all-consuming. If you are in the midst of one, you may focus on matters that may include finding a new place to live or hashing out a new child custody arrangement. While working through these and related matters is certainly important, so, too, is thinking about how you may need to update your estate plan now that your familial situation has drastically changed.

Until your divorce is officially final, your spouse likely has certain rights, some of which could involve having decision-making power over you in certain medical and other situations. If you were to pass away or become incapacitated before your divorce finalized, your former spouse could potentially be the one to make important decisions on your behalf. There are, however, some things you can do to help limit the power your ex would have under these circumstances. For example, you may want to consider: