Drafting a will is an essential element of managing an individual's estate. The document guides the distribution of property after a person's death and can even do so in a way that minimizes Pennsylvania's inheritance tax. However, situations can occur where a will's...
After one of your family members dies, his or her will and estate will likely go through the probate process. Probate is a formal legal process that involves recognizing the will and appointing the executor of the estate. According to the American Bar Association, the...
Serving as someone’s Pennsylvania executor requires a high degree of responsibility. You have an obligation to take care of certain matters within a particular timeframe, and you may also have to notify particular parties while you work to settle the decedent’s...
The executor of an estate holds a great deal of both responsibility and power. In most cases, they run the estate well and do what they can to honor the deceased. But in some cases, an executor may need removal from the estate plan. What are the main grounds for...
You might think that after you die, someone reads your will and your executor divides your assets in a short period of time. However, this is not typically the case for most estates, and many undergo the formal probate process. According to the American Bar...
In addition to creating a solid estate plan, you must also select an executor to oversee processes related to your will. A will's executor has numerous responsibilities, such as dealing with probate matters, settling debts, and providing assets to heirs according to...
The success of your company relies on how you manage it and how you lead the business into the future. Of course, as a good business owner, you also want to consider what will happen to the business in the event that you can no longer drive it forward. Set up a...
Losing a spouse is already difficult enough. However, if they did not have an estate plan, you could find yourself facing even more struggles ahead. You need to grow familiar with intestate succession, and how your marriage will affect the division of assets and...
When selecting your executor for your estate, you will likely feel tempted to pick someone that you know, such as a family member. After all, who makes for a better executor than someone who knows you well? Unfortunately, though, just knowing you well is not a good...
Unfortunately, it is impossible to deny the fact that issues with wills and estate plans can potentially tear families apart. Even siblings will often fight each other over a parent's will. Is there any way to reduce the possibility of these conflicts happening when...
