The estate planning process can be one of the most important processes anyone can engage in, yet it can seem challenging for a variety of reasons. Estate planning does not have to be intimidating and the more testators understand about the process, the better prepared they will be to develop a plan that can provide important peace of mind.
A will is an important safeguard to ensure the wishes of an estate planner are honored which is why it is helpful to understand the components of a will and how to ensure a will is valid. A validly executed will is a key component of an estate plan so estate planners should understand what it involves.
It is important for estate planners to have general sense of what should be included in their estate plan. Estate planning can seem complex but if estate planners have a general understanding of the estate planning tools available to them, they will discover the benefits of estate planning and to not put it off.
This blog has discussed in the past how to know if a will is valid and how to ensure that a will is valid as part of an overall effective estate plan. If there is a will contest, or challenge to the will, it is important to know how to respond in those circumstances.
Pennsylvania trusts are a helpful part of an estate plan and can be used to manage assets during life or can complement a will as part of an overall estate plan. They can be, however, little understood or misunderstood which is why it is worth it for estate planners to take a closer look and ensure their questions concerning trusts are answered.
A will is a cornerstone of any effective estate plan but many estate planners may wonder what the requirements of a valid will are. Because legal requirements for a will to be valid can vary by state, it is important for estate planners to know what the requirements are in their state and how to fulfill those requirements.
A valid will is an important part of an overall estate plan but estate planners may wonder how they know if their will is valid. There are specific requirements for a will to be valid in Pennsylvania, and other states as well, which is why it is essential for estate planners to be familiar with those requirements, and how to meet them, when executing a will.
When people think of estate planning, they commonly think of a will which is, of course, an important part of an effective estate plan, however, it is not the only tool to consider. There are a variety of estate planning tools that can be tailored to the needs of the individual estate planner and their estate so it helps to be familiar with what those are.
It might come as no surprise to Pennsylvania residents that more than a quarter of U.S. residents claim they are constantly online, and about 77 percent of Americans go online daily. The Internet is here to stay, with people shopping, paying bills and interacting online. As easy as it has made our lives, it also complicated it for those who survive us after we are gone.
Most Pennsylvania residents know the importance of engaging in timely financial and retirement planning and how it ensures one's assets are divided off as one wishes but the significance of it is highlighted even more when one has special needs children. Providing for a special needs child's emotional, physical and financial needs for the long-term is as essential as it is challenging. According to one study, the lifetime cost to supporting someone with autism is around $1.4 million and if the person also has an intellectual disorder, the cost goes $2.3 million.