People often ask me how often someone must update their estate planning documents. My response is, I have some clients who update every year and others who update once every 70 years…. but surely there must be a rule? My answer: You must update it when the...
Month: October 2020
Speeding is up, and that’s bad for everyone
There’s been a huge uptick in speeders this year throughout Pennsylvania -- but not these aren’t just the ordinary kind of scofflaws filling the streets. The state police have issued at least 766 tickets in the last five months. In August, for example, 187 people were...
Can a QTIP trust help with your estate planning goals?
Estate planning for people who have married more than once and have children with people to whom they’re no longer wed can be challenging. Most people want to ensure that their spouse is provided for should they predecease them. However, they also want to leave some...
Why Every Small Business Owner Needs an Attorney
First, I would like to say I am not an attorney, but I did run my own consignment shop for five years. What a life-changing experience it is to run a small business. Lucky for me, one of the first things I did was hire an attorney. With so much to learn as a small...
Full Tort vs. Limited Tort Motor Vehicle Insurance: What Does This Mean?
In an attempt to limit the number of personal injury lawsuits resulting from automobile accidents, the Commonwealth of Pennsylvania enacted mandatory personal injury protection insurance (PIP). Individuals purchasing insurance in Pennsylvania are classified as either...
Medicaid and Medicare Planning
Medicaid is a needs-based program that was created when Medicare was created. It is run by CMS (Centers for Medicare and Medicaid). It was originally meant to provide medical care to single mothers and their newborn babies. It has since grown significantly and has...
Should I have a trust if I have a blended family?
As a parent who now has a blended family, one thing that you might want to consider having is a revocable living trust. Estate planning attorneys would be happy to talk to you about the many ways that a revocable trust can benefit most individuals, but for blended...
Four Myths About Estate Planning
When you wake up in the morning, the first thought that probably doesn’t come to your mind is that you should get your estate planning started or updated. Let’s face it, while it’s not rocket science, making the decision to take an affirmative step towards beginning...
Simple Reasons that Everyone Needs Estate Planning
WHO IS GOING TO TAKE CARE OF YOUR PETS? Forget the children (which can also be taken care of in your will). Who is going to take care of your animal companions after you pass? Creating a Will isn’t something you do for yourself. It’s something you do for your loved...
What is a Dynasty Trust?
In the Commonwealth of Pennsylvania, there are many tools you can use to create a customized estate plan. While many are commonly employed (wills, power of attorneys, and living trusts), others fly under the radar. A Dynasty Trust is a hidden gem that exists in the...