No one likes to think about dying—especially once you have kids. It’s hard enough to find a babysitter that you trust, much less think about your kids navigating the world without you. When you aren’t prepared, though, not having a Will and Trust created for your children can be the kind of thing that keeps you up at night. Taking care of your estate planning gives you the reassurance that your children will be protected if...
Read MoreDid you know that the Federal Government has a blog? It does, and it recently had a blog post here suggesting that everyone have a “social media will.” As the post explains: Social media is a part of daily life, but what happens to the online content that you created once you die? . . . Just like a traditional will helps your survivors handle your physical belongings, a social media will spells out how you want your...
Read MoreHaving an estate plan that fits your needs is an ongoing process. Although it can feel satisfying to have completed your Will, Financial Power of Attorney, and Health Care Power of Attorney and Living Will (the three estate planning documents that everyone should have), your documents should be updated as your personal and financial situation changes over time. You should consider asking an estate planning attorney to review your Will...
Read MoreOne of the more unpleasant realities of modern life is the possibility of getting a divorce. Among the many issues that a divorce brings is its effect on your estate plan. Pennsylvania law automatically invalidates bequests to ex-spouses and designations of ex-spouses as beneficiaries. Under Pennsylvania law, it is presumed that any provision in a person’s Will that leaves part of the estate to his or her spouse becomes ineffective...
Read MoreA general power of attorney (also known as a “financial power of attorney”) is an essential part of estate planning. It guarantees that if you become unable to handle your finances, whether it be managing your investments or just paying your bills, someone else will have the legal authority to handle them for you. That person is called your “agent.” There are two basic types of financial powers of attorney:...
Read MorePrenuptial agreements, also known as prenups, are not usually a popular topic of conversation. Most people associate prenups with divorce. These agreements, however, can be useful in estate planning as well. There are some common situations where a couple might sign a prenuptial agreement. They might do so if one person is significantly wealthier than the other or–the opposite–if one person is entering the marriage with...
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