Estate planning can be a difficult task to handle, especially when planning for the future. There is no telling what will come in the future, making it so hard to know what you should put in your will. Despite how vital a strong estate plan is, the number of people...
What should be included in an estate plan?
An effective estate plan provides protection for the estate planner and the estate planner's loved ones, family and friends. Because of this, estate planners should know what documents to include in their estate plan. There are several different types of documents...
What are the benefits of creating a living trust?
Preserving one's legacy and ensuring their assets are distributed in the manner they want are often the driving force for Pennsylvania residents to draft wills. Having completed the task, they most likely don't give it another thought, and very likely do not utilize...
Common lies told to avoid estate planning
While it is true that thinking about one's estate plan is not fun, not everything in life is fun. To justify the delay in creating an estate plan, people tell themselves lots of lies, such as talking about one's death only makes it more imminent. However, dying...
How can I avoid common estate planning mistakes?
Realizing the importance of creating an estate plan is just the first step to ensuring one's loved ones are taken care of in the future. Pennsylvania residents should know that while their estate plan is unique to their situation, there are still a number of mistakes...
Estate planning is important even if one doesn’t have kids
People who do not have children or close family members often think that there is no need to engage in estate planning-their assets will go to their spouse and they do not have to prepare any other documents. However, estate planning encompasses more than just a will...
Resolve to review your estate plan this year
Creating a will and an estate plan is just the first step in ensuring one's assets are distributed according to their wishes after their demise. To make sure that it takes into account changes in laws and life situations, it should be revisited every couple of years....
Pennsylvanians should review their estate plan after divorce
When a Pennsylvania resident is going through a divorce, it can sometimes be hard to think pragmatically. Divorce is a very emotional time, and often, a person's thoughts are wrapped up in divorce legal issues such as child custody and property division. However, if...
A divorce may require a second look at one’s estate plan
When a married couple in Franklin creates their estate plan, they do so thinking they will live out the rest of their lives in wedded bliss. However, for any number of reasons, a married couple may end up divorcing. During the divorce process, their thoughts will be...
Four reasons to update your estate plan
There are many reasons to update an estate plan. One particularly relevant is the recent passage of the Tax Cuts and Jobs Act. This new law resulted in an overhaul of the tax system that could impact an estate plan in a number of ways. The increased exemption rate is...
