An executor manages and distributes a deceased person's estate according to their will. In Pennsylvania, an executor must be at least 18 years old and of sound mind. Often, individuals choose family members, close friends, or professionals like attorneys or...
Month: September 2023
Can the type of business structure affect estate administration?
Yes, the type of business structure plays a crucial role in what happens to a business after the death of the owner. Typically, businesses with formal setups have clearer rules about changes in ownership. However, if there is no clear plan in place, families may face...
What rights do trust beneficiaries have in Pennsylvania?
Learning that you're named as a beneficiary of a trust can stir up many questions. What happens next? What can you expect? What are your rights? In Pennsylvania, the law provides clear protections for beneficiaries. Learning about these rights puts you in a better...
How do you handle creditor harassment after loss?
The emotional toll of losing a loved one can be overwhelming, and the last thing you need is the added stress of dealing with creditor harassment. Unfortunately, this is a reality many families face during the estate administration process. Creditors can be relentless...
How small estate rules help simplify probate in Pennsylvania
Losing a loved one brings emotional challenges. Dealing with legal matters on top of your grief can feel overwhelming, especially if you have to deal with something as complicated as probate. If your loved one left behind a modest estate in Pennsylvania, you might...
5 common issues that may arise with executors
As a beneficiary of a loved one's estate, it's essential to understand the role of the executor and the potential issues that may arise. Executors are responsible for managing the estate, paying debts, and distributing assets according to the will. However, they may...
How can you effectively handle creditor claims in your estate plan?
In estate planning, one aspect you may overlook is the impact of creditor claims. Understanding how to manage these claims could be crucial in preserving your legacy for your loved ones. Below are tips for handling creditor claims and their potential effects on your...
Can you change your spouse’s will or trust after death?
Losing a loved one is never easy, and dealing with their estate can add layers of complexity. Many wonder if they can change a will or trust after their loved one's passing. Understanding your options and the legal boundaries is crucial. So, is it possible to change a...
5 things you need to consider in a business succession plan
“Failing to plan is planning to fail,” thus goes the common saying. This is true in almost any endeavor but is especially true in business. That is why investors prepare feasibility studies and business leaders create business plans. Moreover, as with nearly all...
3 common pitfalls to avoid during probate
Probate can be a complex and emotionally challenging process. While going through this process, it is crucial to be aware of potential mistakes that could complicate matters. Below are three common mistakes people often make during probate and some suggestions for...