As a parent with multiple children, you probably have unique relationships with each of your kids. No matter how carefully you try to treat them with the same amount of compassion and give them access to the same resources, your kids will invariably grow into very...
How long does it take to receive assets from a loved one’s estate?
When a loved one dies, their property and assets essentially get frozen until the executor in charge of their estate begins to distribute the property. Unless you are a co-owner of an asset or a cosigner on an account, you will not have the right to use or access...
When to review and update your estate plan
It’s dangerous to assume that the original estate plan you create can remain unchanged for the rest of your life. Throughout your life, it’s critical to review your estate plan for changes and then take action as necessary. Here are some of the times when you must...
What you must know about life insurance and estate planning
A life insurance policy may be a major part of your estate and the way you hope to provide for your family in the future. Your goal is to pass that money on to your heirs to provide financial assistance and options even long after you can no longer do so in person. ...
Why might someone challenge a will?
The creation of a will can provide families peace of mind and protect a loved one’s assets from unnecessary losses or unwanted distribution. Though, not every estate plan is perfect and some would-be heirs may challenge a will for multiple reasons. Undue influence by...
Your estate plan after divorce: 5 things to revise
While a divorce might seem like the end of one chapter of your life and the beginning of another, it is wise for individuals to examine all aspects of the end of the relationship. For example, many married couples will make all financial decisions as a team. Now that...
Does an executor have to pay taxes on behalf of the deceased?
Those entrusted with the management or administration of someone’s estate have many obligations that they must fulfill in their role. Reviewing the last will or estate plan and providing the necessary documentation to the probate courts is one such obligation....
What is the process of gaining adult guardianship in Pennsylvania?
Your father always has been the doer in the family, the one who took care of everyone else’s needs before his own. But as he’s getting older, you’re noticing that the things he used to do routinely, like going to the doctor or taking his medicine or handling his own...
Do you have an estate plan? Most people don’t.
Estate planning is just one of those things where we all know that we’ll need it, but most of us don’t have it. For years, studies have claimed that less than 50% of people have an estate plan in place at any given time, meaning that most people have done no planning....
Your tax responsibilities as the executor of an estate
Serving as an executor or administrator for an estate means dealing with a lot of details, forgotten possessions and unhappy family member. Between Pennsylvania probate court and family squabbles, you may have a lot of issues to manage as you handle the estate of a...
