When people in Pennsylvania pass away, family fights over inheritance can squander the value of the estates they leave behind. Planning to deal with hurt feelings and family drama can be an important part of preparing an estate plan on par with the writing of the...
Year: 2018
Divorce does not have to come with financial shock
One of the main worries people have when getting divorced is usually related to financial issues. For Pennsylvania residents who think divorce is a possibility or who are about to start the process, divorce does not have to come with financial shock if they educate...
Do I really need an estate plan as a new parent?
Now that you are a new parent, you probably have many people offering you advice. Family members and well-meaning friends may have strong opinions about car seats, feeding schedules, pediatricians and sleeping positions. Undoubtedly, there is some advice you...
The benefits of a special needs trust
Pennsylvania residents can think of a trust as a relationship between three entities. There's the donor, who puts the funds into the trust; the trustee, who looks after the assets in the trust; and the beneficiary, who benefits from the assets in the trust. With that...
Divorce may necessitate estate planning revision
Pennsylvania couples who are getting divorced sometimes overlook a key item on the separation to-do list: updating their estate plans. Spouses are often named as beneficiaries of life insurance policies and in wills. These documents should be updated to reflect that...
The importance of reviewing beneficiary designations
When a Pennsylvania resident gets divorced, they should consider changing the beneficiary on their life insurance policy. If an ex-spouse is still listed as the beneficiary, they may be entitled to any death benefit associated with that policy. However, this may not...
Most child support is collected through payroll deductions
Most noncustodial parents in Pennsylvania and around the country have their child support payments deducted electronically from their paychecks. Payroll deductions accounted for $24.4 billion of the $32.4 billion in child support collected in 2017 according to the...
Taking steps to end your marriage
Whether it is something you have considered for a long time or you are facing a traumatic event in your marriage, the decision to divorce is seldom an easy one to make. If you and your spouse have children, you may be especially troubled about the difficulties in your...
Protecting the future with estate planning documents
A survey conducted by Wells Fargo found that many Americans do not have critical estate planning documents put in place. In fact, the data shows that as many as 40 percent of older people in Pennsylvania may not have the documents they need to protect themselves and...
Passing on valuable collectibles in your estate plan
Traditionally families build net worth through the accumulation of currency and property, but many individuals, whether they're aware of it or not, also own rare collectibles that can be worth a lot of money. Passing on these items to heirs doesn't cross the mind of...