When people do estate planning in Pennsylvania, they usually take care to outline their wishes in detail. However, they may forget about a certain asset or two. What happens to assets not explicitly in estate planning documents? Distribution of unnamed assets A will...
Month: August 2021
How to manage creditor claims against an estate
When someone passes away, that person's estate becomes responsible for settling any existing debts. For executors, the people in charge of squaring away the deceased's affairs, handling creditor claims is an important aspect of their duties. This task can seem...
How to handle digital assets in probate
In today's high-tech society, many people have digital assets. These can include social media accounts, email accounts, digital photos or videos, cryptocurrencies and other online accounts. Executors need to be cautious when working with digital assets. Depending on...
Why would probate be beneficial to avoid?
Probate is a legal process that happens when a person dies, and it can feel quite overwhelming for those left behind. Common issues usually involve the validation and distribution of a dead individual's assets. There are compelling reasons to consider avoiding probate...
Can you be an estate executor in Pennsylvania from across the country?
When a loved one passes away, one question that often arises is whether you can serve as an estate executor from a different state. The answer to this question depends on various factors and considerations. Pennsylvania law does not require executors to be residents...
How to keep assets safe when planning long-term care
Long-term care planning is an important aspect of securing your financial future, especially as you age. Ensuring that you protect your assets requires strategic thinking and proactive measures. Leverage insurance options Investing in long-term care insurance is a...
What happens to credit card debt during estate administration?
During the estate administration process in Pennsylvania, the handling of credit card debt requires careful consideration. When someone dies, the executor of the estate is responsible for notifying creditors. Creditors have a specified period to come forward and...
Strategies to avoid probate in Pennsylvania
Navigating the intricacies of the probate process can be time-consuming and costly. Some people prefer to plan their estate in a way that helps them avoid probate. Consider implementing strategies in your estate planning process to help your heirs and beneficiaries...
6 things to do if a will seems altered before a parent’s death
It is unsettling to suspect that someone convinced a deceased parent to change a will before passing away. Unfortunately, the World Health Organization reports that 6.8% of elderly people living in the community and 13.8% in institutions experience financial abuse. In...
4 common mistakes people make during probate
Probate, the legal process of administering an individual's estate after their death, is a daunting and complex journey. Many individuals, however, make mistakes that can complicate matters further. There are four common missteps that people often make during probate....