Losing someone close to you can be a heartbreaking and overwhelming experience. Even if you were prepared for their demise, you might still find it difficult to say goodbye and move on. However, while grieving, there are some important tasks that you need to address. A seasoned Pennsylvania estate planning attorney can enlighten you about what you need to do when a loved one dies.
Losing a loved one is a tragedy that people experience all too often. If you’ve been appointed as administrator of an estate, you aren’t only left dealing with feelings of grief but also the stresses that accompany that kind of responsibility. These questions can create even more anxiety when thinking about the legal ramifications of the death, including funeral expenses, asset distribution, probate, and more; and these issues can be even more complex if your loved one died intestate.
Most of us have no doubt encountered advertisements online or on television promoting services to create your last will and testament or other legal document by yourself.
A wedding can be a happy occasion. However, even a happy wedding can lead to uncertainty regarding inheritance rights. If your parent has recently remarried, you may be wondering what happens to your inheritance rights.
Most people are familiar with the estate planning mechanism known as the last will and testament, or simply will for short, but they may not be aware of another legal tool that can accomplish the same goals of caring for your loved ones when you’re gone. This legal document is known as a living trust.
The primary purpose of a business succession plan is to make sure that a company is prepared for any expected and unexpected changes in the future. Without a business succession plan in place, your company may not be prepared for potential transitions or any other forms of uncertainty.
Creating a well-detailed estate plan allows you to get your affairs in order, prepare for life's uncertainties, and protect your assets, property, investments, and surviving loved ones. If you're thinking about drafting your estate plan, here are some vital things to consider before you start.
Estate planning is more than simply drawing up a will. A comprehensive estate plan should include provisions on who will receive what assets as well as who will make important decisions on your behalf should you become incapacitated. Before you begin planning, you should educate yourself on some common estate planning terminology that you’ll encounter.
When you serve as an executor, it is your job to resolve the legal and financial issues of the deceased person. You must settle their debts and distribute their property to their family members. You may need to pay bills on their behalf, close bank accounts, and physically secure property against vagrants or thieves.
You have no spouse, and the only relative you have now is your adult child. As a single parent, you’ve always wondered if you needed an estate plan because your child would be the only potential beneficiary or heir to your estate.