When you hear the term "trusts," you may think of wealthy families, generational wealth, and "trust-fund babies." But the truth is that anyone with assets can benefit from forming trusts as part of their estate plan. Trusts offer flexibility and several advantages...
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Estate Planning
What is a power of attorney?
An estate plan focuses on a lot of matters relating to a testator’s passing. A testator’s will or trusts help instruct how their assets are managed and who should benefit from them. An executor of the estate is named to settle the testator’s estate. And a child...
Have you created a digital estate plan yet?
Creating a digital estate plan is an increasingly important concern when it comes to modern estate planning. Yet, many individuals have not yet taken the necessary steps to organize and secure their digital legacies. If you're among those who haven't created a...
When should you update your estate plan?
If you already have an estate plan, then kudos to you. Most Americans don’t have one. But, an estate plan is not something you can do one time and forget about it. It needs to be reviewed and updated to reflect your current life circumstances to be effective. Here are...
4 things you might include in an estate plan
Do you know what an estate plan is? Simply put, an estate plan is a guide about how to handle the testator’s final affairs and assets. People can make estate plans once they’re legal age, although many don’t make them until much later in life. Estate planning is a...
How a living will can help your loved ones
An unforeseen medical crisis or serious injury can leave you incapacitated and unable to communicate your medical preferences. In such a situation, your family will have to make difficult decisions about your health care. Should you remain on life support if there’s...
Should you include digital assets in your estate plan?
Part of estate planning is deciding who will receive your assets after you die or become incapacitated. It involves determining how an individual's assets will be preserved, managed and distributed after death. However, one thing most people fail to consider is their...
Estate planning: What is it and why do you need to do it?
You might think that you only need to worry about estate planning if you’ve got millions of dollars in property and assets. The truth is, however, that everyone should go through the estate planning process, no matter how small their estate is. It’s the best way to...
3 estate planning rules all Pennsylvanians should remember
Do you believe that estate planning is a poor use of your time? Many others share your opinion. They either never create a plan at all, or they never revisit it once it is complete. The truth is that estate planning is never complete. As your life changes and evolves,...
2 important estate planning considerations as you divorce
If you’re planning to divorce, you’ll also want to think about the necessary modifications to your estate plan. You likely don’t want to wait until the final divorce decree is signed to begin putting these in place. However, you don’t want to jump the gun either. ...