Special Needs Resident Registries

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College Student Emergency Planning

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Value of Prince’s Estate Grows as Probate Looms

Just like David Bowie’s death taught us earlier this year, the unexpected demise of Prince provides a strong lesson in the importance of proper estate planning. (or the dangers of a lack of proper planning). According to the latest reports, Prince’s sister, Tyka Nelson, has filed court documents stating her brother left no will. Tyka […]

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4 Simple Ways to Avoid Probate Costs

The bad news: probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, and the size of the estate, fees can run into the tens of thousands of dollars. The good news: probate costs can be reduced by avoiding probate. It’s really […]

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Is There an Income Tax Time Bomb Lurking in Your Estate Plan?

As the federal estate tax exemption has ballooned from $1.5 million ten years ago to $5.43 million today, the need for estate tax planning by families has drastically decreased. Instead, higher income tax rates that were ushered in under the American Taxpayer Relief Act of 2012 (ATRA) have shifted the focus of estate planning to […]

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USING A PENNSYLVANIA POWER OF ATTORNEY FOR GIFTING

Recent changes to the law in Pennsylvania regarding Powers of Attorney allow agents under the power of attorney broader gifting power than under the previous law. Prior to the enactment of the new law beginning in January of 2015, an agent who was granted limited gifting power could only make gifts which were limited to […]

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Incapacity is Part of Estate Planning

When many people think about putting in place an estate plan, they often only think about wills, trusts, probate administration, and passing along property and other assets. But your plan should also include putting in place provisions in case you become incapacitated and cannot manage your medical and financial decisions. Illness and injury can happen […]

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Digital Assets and Estate Planning

Digital Assets and Estate Planning As a follow-up to our email discussion of including digital assets in your estate planning, there are several websites and services designed to address these issues. These sites use either a “dead-man switch” function in which a non-response to regular email reminders triggers the forwarding of password to your heirs; […]

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Children and Estate Planning

Wanting to protect your children when you aren’t there to do so is one excellent reason to develop an estate plan. Here are some leading child-related issues to consider as part of your estate planning efforts. Guardians for Minor Children: Ordinarily, a surviving spouse will get custody of children under the age of 18, unless […]

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For Heirs Requiring Continuing Care, Consider Special Needs Trusts

If the beneficiaries of your estate include anyone with significant physical or mental limitations making it likely he or she will require continuing care, you should think about a special needs trust, especially if it’s important to retain that individual’s eligibility for government benefits programs, such as Medicaid or Supplemental Security Income (SSI). For example, […]

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