In a divorce, governed by the laws of the state of Pennsylvania, equitable distribution provides for the division of non-probate assets or assets not identified in a person’s will. Examples of non-probate assets include checking and saving accounts, retirement...
If you are a wealthy individual who is weighing your estate-planning options, one possibility you might be mulling over is a dynasty trust. There are definite advantages to funding a dynasty trust. Namely, this kind of trust allows you to pass on your wealth to...
An estate plan is a great way to help get all of your assets in order, hash out your future financial goals, and better ensure your estate is distributed in line with your wishes. When put together wisely, it can also provide better protection from creditors and...
Pennsylvania courts are very concerned about the welfare of children whenever they are part of any legal situation, and this especially applies when a custody issue hangs in the balance. The courts take their role as child advocates very seriously. Judges weigh all...
Many people become confused over the meaning of cost basis, as it is a term that accountants and tax specialists use to determine the worth of certain assets and how much tax must be paid. Understanding what cost basis is and how using a step-up in basis can make a...
Trusts allow the grantor in Pottstown, Pennsylvania, or trust creator, to hold assets legally for a beneficiary. One type of trust is an irrevocable trust, which means the grantor cannot change it without the beneficiary's permission. Irrevocable trusts can be used in...
Guardianship is the legal process in which a court appoints a person or an institution to be the legal guardian of a person who is unable to manage their own personal, legal, medical and/or financial affairs. The guardian then has the legal right and ability to act on...
Estate planning is something that often individuals do not wish to address or shy away from the subject. It can be a scary thought, but prudent estate planning now can ensure that the ones that you love will be taken care of. According to a recent study done by the...
There are several goals when creating an estate plan. One is to provide for your old age, but the other is to transfer assets to your family in the most efficient way possible. The step-up basis relates to the transfer of assets from one generation to the next. When...
When your health starts to decline as you get older, you may need support to stay safe and well. Moving in to a nursing home can allow those with cognitive issues or limited mobility to enjoy their golden years without the risks that come from living alone....
