When creating your estate plan, you may have several different types of accounts to which you may name a beneficiary. The funds in those accounts will pass directly to your beneficiary or beneficiaries without having to go through probate.These accounts may include...
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Estate Planning
Mistakes to avoid in Pennsylvania estate planning
Estate planning is a subject that many choose to avoid because it brings up topics people don't like to discuss: death or disability. However, refusing to develop an estate plan can make life more difficult to those left behind.The most common mistake people make is...
Planning for the future can help avoid conflict
Many people in Hollidaysburg want to make sure that their family members are cared for after they pass away. Unfortunately, battles over the assets and estate left behind can consume money, time and emotional energy, and rivalries and conflicts can come to the...
Estate planning for people with digital assets
Pennsylvania residents who are looking to create an estate plan should include their digital assets as well. These assets could be anything from a Facebook account to the password to get into a computer or flash drive. As with physical items, an individual will want...
Reasons an estate plan may be incomplete
Pennsylvania residents and others who haven't updated their estate plans recently may find that they don't necessarily meet their needs anymore. For instance, a plan may be missing key documents such as an advanced medical directive and a financial power of attorney....
Pitfalls to avoid when creating a living trust
Pennsylvania residents who are creating an estate plan might want to use a living trust to keep the estate plan more private and avoid probate. A living trust can be a powerful tool in an estate plan, but there are some common mistakes that can mean beneficiaries are...
Higher exemptions with federal tax reform law
Pennsylvania residents should be aware of how the Tax Cuts and Jobs Act will affect their estate plans. The legislation allows individuals a short-term opportunity to reallocate a substantial amount of money without being assessed federal estate, generation-skipping...
Tax law changes can affect estate planning
In December 2017, Congress passed a highly-debated and widely-discussed tax bill. Among many other sweeping changes, there could be effects on estate planning for people in Pennsylvania and throughout the country. The bill contains a few provisions in that...
What to tell children about their inheritance
Pennsylvania parents may plan on leaving money to their adult children. However, many of them may not choose to talk to their children about their inheritance. Having this conversation may enlighten a beneficiary as to where to look for the money that is being left...
Could trusts help you qualify for Medicaid?
Many Pennsylvania residents have varying views when it comes to getting older. Some may feel that reaching their golden years will act as a time of enjoyment and relaxation, and other people may believe that reaching their elderly years will rob them of their...