When it comes to estate planning there are two especially important types of Power of Attorneys (POA) used in Pennsylvania Estate Planning. One is known as a Healthcare Power of Attorney (HPOA) which allows an individual to appoint someone to make healthcare...
When a loved one passes away, most estates are administered through a formal probate process. When we are NOT going through a pandemic, this would involve appearing before the Register of Wills and requesting to be appointed executor or administrator using a document...
The primary reason that individuals choose to set up a limited liability company (LLC) or corporation (INC) is to protect themselves and their family from personal liability in connection with the operation of a business. If you come up with an idea such as selling...
Fifty-seven percent of adults in the United States have not prepared any estate planning documents such as a will or trust despite the fact that seventy-six percent of adults in the United States view them as important. You may wonder why that is the case, but are...
In the follow-up to my Bubble Blog…..here’s part 2, which admittedly is not EVERY question that we would go through at a consultation for estate planning but covers some of the bigger questions. If any of this information is useful information to you, consider setting...
Knowledge is Power. An estate plan can provide peace of mind by ensuring your assets are protected, plans are in place in the event you become ill, and your property is passed down according to your wishes. Fifty-seven percent of adults in the US have not prepared any...
An irrevocable life insurance trust (ILIT) is created to own and control a permanent or term life insurance policy while you are alive, as well as to manage and distribute the proceeds that are paid out upon your death. It is a good way to financially prepare your...
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...
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...
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...
