Of the countless estate planning documents available, Wills and trusts are arguably the two most common. Still, there are plenty of misconceptions about these two legal documents and what they can accomplish. We’ll cover the basics on Wills and trusts in this blog so you understand how you can use precise estate planning strategies to your advantage. What is a Will and Why Should You Have One? The Last Will and Read More
What is the Probate Process in Pennsylvania?
The last thing you want to deal with after the death of a family member or loved one is legal proceedings. Unfortunately, every decedent domiciled in Pennsylvania must have his or her affairs wrapped up in orphans’ court (the state’s version of probate court). The process is not typically onerous — especially with the right legal help — but it helps to know what to expect. Formal vs. Simplified Read More
Sharks in The Waters!
By: Nikki M. Vasconez, Esq. If your estate plan is 10-20 years old or you don’t have an estate plan at all, you are inviting the sharks in the water to come in and take a bite out of your cash accounts, eat up all your stock, and divvy up the rest of your goods among their shark friends! By having a solid, up-to-date estate plan, you are avoiding the sharks and ensuring that everything you’ve worked so hard to Read More
The 1 Key Step to Protect Your Minor Children
By: Nikki M. Vasconez, Esq. Q: “Hey, Mom. Can I skateboard to Johnny’s house in the City? It’ll only take me 45 minutes!”A: “No, honey. You’re 12 years old. I will drive you. “Q: “What if I take the train?”A: “No, I will drive you.”Q: “How about Max’s older brother? He just got his license! He said he’ll drive us anywhere!”A: “No.”Sometimes our kids think we are stuck on repeat by our seemingly consistent Read More
Learning More about Wills and Trusts Lawyers in Pennsylvania
Will vs. Living Will Most people probably get that “will” and “living will” are two different things, but a whole lot of them couldn’t actually tell you what exactly makes them different. The term “will” is likely most familiar, as we’ve all seen them discussed on TV and in the movies. It’s that document that is used to tell the courts what should be done with a person’s assets after he or she dies. Read More
The Three Most Important Steps to take BEFORE sending your Kids off to College this Fall
By Peter J. Gilbert, Esq. It's almost that time of year again when the kids are off to college. While we are all very excited for them, we are also concerned about the "what ifs". You hear so many stories of tragedies on college campuses, from drinking binges to fraternity hazing, and we're all confident that will never happen to our kids. But because we love our children, and their health and Read More
The Rising Instances of Alzheimer’s and its Effect on the Family, by Peter J. Gilbert
June is Alzheimer’s Awareness month and the number of families who will be involved with care of a senior with Alzheimer’s or another type of dementia is staggering. In 2016, more than five million Americans were living with the debilitating disease, and the numbers are only rising. For loved ones, the reality of managing the care and financial affairs of a senior with diminished mental capacity can be an extremely Read More
Who Will Care For Your Pet If Something Happens To You?
By Peter J. Gilbert, Esq. Many people own and care for animals, but to be honest, it’s pretty common for people to overlook the need to plan for them after their death. It’s not surprising that more and more people are recognizing that taking care of their pets is an integral part of their own estate plan. Most of the time, a person just assumes that their children or a friend, Read More
Plan for your Adult Special Needs Child and Your Retirement
We see clients every day that are thinking about retirement. But for parents of special needs children, the advancements in medical science that allow for greater longevity for those with special needs also creates a planning issue. Parents of special needs children need to think about long-term planning for their child as a part of their retirement planning. In my experience, here are five things Read More
“My wife and I did an estate plan with a revocable living trust back in 2003, we’re good right?”
By Peter J. Gilbert, Esq. I recently met with prospective clients who had moved to Bucks County from Georgia and they wanted to be sure their estate plan was still “good”. You’d be surprised at how many people don’t have an estate plan at all, so I was happy to see they had something in place. For some, it’s because they think that only wealthy people or those with complex tax issues require estate planning. But Read More
