Pennsylvania Legal Blog

If you serve as the executor of a Pennsylvania will, you have to handle some serious responsibilities. However, while an executor's duties can seem complicated and weighty, approaching them with the right mindset can help you meet your responsibility properly.

If the testator selected you as the executor, he or she had faith in your abilities, honesty and motivation to fulfill his or her wishes. Knowing some frequent errors to steer clear of can get you off to a good start as you begin the probate process.

Many factors can have impacts on how things go financially for a person after getting a divorce. One is his or her credit score. Credit score impacts many different things for individuals, including how expensive and accessible different types of loans and credit cards would be for them. This, in turn, could have big implications on how achievable the different post-divorce goals a person has would be.

So, when getting divorced, credit can be an important issue to keep in mind. With credit, as with other financial matters, knowing where one stands can be important in making good decisions. So, when divorcing, looking up one’s credit score and getting a full credit report to understand one’s credit situation can be wise.

Perhaps your grandmother plans to leave you significant inheritance after she passes away. You may know that you may have to pay taxes on the estate to receive the inheritance. Yet many individuals do not know that their relationship with their deceased loved one determines how much of the inheritance you can keep in full, and how much Pennsylvania tax laws will acquire.

It is important both for grantors and beneficiaries to understand these tax laws. Grantors can determine the best document related to estate planning to allocate their assets, while beneficiaries can prepare for the assets’ associated taxes.

You would think that celebrities would be more mindful of their financial status than they appear to be. So many famous people engage in no estate planning or inadequate estate planning. In either case, Pennsylvania small business owners may want to avoid emulating celebrities when it comes to sound financial planning.

Instead, it would be a good idea to create an estate plan that covers much more than just who inherits the family home. A will is a good place to start, but should probably not encompass a small business owner's entire estate plan. Other measures could be taken to help ensure the survival of the business, the passage of it to loved ones or its sale upon death.