Category Archives for Estate Planning
How TOD Might Cause Pennsylvania Estate Problems
At first glance it might seem that Transfer On Death (TOD) Accounts (which may also be referred to as Payable On Death (POD) Accounts) should be the answer to an estate planner’s dreams. The idea is that the owner holds the account during lifetime but designates one or more beneficiaries to receive the balance to […]
Continue readingIndecision and Decision – Continuing Care Retirement Communities
If you are approaching retirement or have already arrived you probably have received one – or several – invitations to come to a social and consider a new or established Continuing Care Retirement Community. The choices can be daunting. When I first began my elder law practice years ago choices were more limited. Today, especially […]
Continue readingAttorneys Meet in Harrisburg and Discuss Big Beautiful Bill
Every summer the Pennsylvania Bar Institute holds its annual Elder Law Institute, usually in Harrisburg, which is a two day intensive review for elder law attorneys into current issues in the elder law and estate fields. This year was no exception and my daughter, Alisa, and I made our way to the Harrisburg Hilton last […]
Continue readingShould You Include Additional Instructions With Your Will
I have frequently written about letters of intent as a means for parents of disabled children to express their wishes regarding care for their child if the parent should die. There are other reasons why, when drafting your Will and related documents you might consider a Letter of Instruction in another context. Wills typically do […]
Continue readingWhen Bankers Say You Need A Trust, Do You Really
One of the most confusing questions involved in estate planning is whether you need a Trust or will a simple Will work just as well. The answer in an individual case depends on the facts of your case and also what you are trying to accomplish. You might be told that you must have a […]
Continue readingHow Grandchildren (and StepGrandchildren) Can Affect Your Estate Plan
There once was a time when planning for traditional families seemed to be simpler. Parents planned to leave everything first to each other, a process made easier by joint titling of their assets, and then, on the death of both, the estate would be divided, by Will, equally among their children. The term “per stirpes” […]
Continue readingMuddling Through Is Stressful With Post Covid Changes
For several months now at least it has come to my attention that the stresses people are subject to post-COVID are very different from the stressors most of us experienced before. This is important to my law practice partially because, as an elder law attorney, my office is dealing with clients often under stress either […]
Continue readingDivorce Can Ruin an Estate Plan – What to Do
Just when you thought you had everything planned for your estate down to the last beneficiary designations and the age at which your children would inherit, you might find an unpleasant reality that slips in not only to wreck your day to day living but also how your assets are to be distributed if you […]
Continue readingWhat You Should Know When an Executor Sells a House
You could have been named Executor in a Will or you could be a prospective buyer of what has been a family residence. From the perspective of an Executor/Executrix, selling the family house can be one of the most significant and one of the most demanding jobs associated with settling his/her parent’s estate. Arranging for […]
Continue readingDo You Really Want To Handle Probating An Estate On Your Own?
You might have a job or just have retired and you learn suddenly that your Great Aunt Lucy died and named you Executor of her Will. How hard could it be you ask to resolve an estate by yourself without professional advice or a competent professional beside you? You might decide to strike out on […]
Continue readingYour Estate Plan Does Not End With a Will
Last year I began the New Year with a column reminding readers that a Will is not the same as an Estate Plan. The thought was important enough – and still is – that I thought it worthwhile to repeat and add to it. When you chose to write a Will you have taken an […]
Continue readingLife Insurance Can Fill In Holes In Your Estate Plan
A recent article in the “AARP Bulletin,” titled “7 Things to Know About Term Life Insurance,” Tamara E. Holmes, October, 2023, brought to mind several ways in which life insurance, in this case term life insurance, can, among other things, plug up holes in an estate plan. Term life insurance, as the name implies, runs […]
Continue readingHow Much Should An Executor Be Paid for Administering An Estate
It is a good idea to settle the matter of your will at some point. It helps the family during a very difficult time, and is a good way to plan for the future carefully and with the benefit of time. With the help of a Will Planning Lawyer, these matters can be fully established […]
Continue readingYes. You Inherited a House – Now What?
If your parents left you their house in their Will and you are now the proud owner of a family residence you might consider yourself blessed or the event could act as a cause for concern or rethinking of your future plans. Will you live there? Have you resided there all along and do you […]
Continue readingReasons Why a Will Is Not Enough For An Estate Plan
With the beginning of the new year many readers may be looking to redraft their Wills executed years ago or starting out to review their estate plans generally. Having attended several programs over time and drafted many estate plans I know the emphasis has almost always been on explaining Wills. Today it is most often […]
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