What to Do with an Inherited House

Generally, there are three options to choose with an inherited house: live in it, rent it, or sell it, and deciding how to proceed can be overwhelming.

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Tax Season Estate Planning

Why You Should Begin Estate Planning During Tax Season

Getting your financial and legal house in order is likely the last thing on your mind during tax season. However, starting is much easier than you think. In fact, now is a perfect time. Don’t hold this task off for later. Some careful thought and a little bit of work now can go a long way […]

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Estate Plan

New Baby? Time to Create Your Estate Plan

Creating an estate plan is often pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary from lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason, now is the time to meet with an estate planning attorney to […]

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How to Proactively Include Rental Property in Your Estate Planning

A comprehensive estate plan should address all of your assets, including rental property. For most people, an estate plan must include three common categories: Your home Financial accounts (like your checking and savings account) Personal property. Other types of assets – such as life insurance, retirement funds, and annuities – should also be considered as […]

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Frequent Flyer Miles

Can You Bequeath Your Frequent Flyer Miles?

If you’re a frequent airline traveler, one of your estate planning concerns may be what will happen to your frequent flyer miles. They could be worth thousands of dollars, so you probably don’t want them to just disappear. The problem is that some airline policies say that’s exactly what will happen. The law doesn’t consider airline […]

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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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Joint Executors for Pennsylvania Estates

One of the decisions that must be made when drafting your Will, is who to name as Executor of your Estate. An Executor is an individual (or an entity such as a trust company), named in the Will, who will administer your estate. This involves everything from collecting your assets, opening an estate checking account […]

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