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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.
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.
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.
One of the important decisions you’ll need to make in writing a will in Pennsylvania will be to name an executor.
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.
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).
It’s crucial to note a living trust does not take effect until specific assets have been transferred into the trust to fund it; this may require additional paperwork to complete formal transfer of those assets’ title.
Gov. Jack Markell’s August 12 signing of the “Fiduciary Access to Digital Assets Act” made Delaware the first state to adopt a comprehensive law giving fiduciaries, including estate representatives, improved access to a decedent’s digital accounts and assets.
Check out my interview, An Overview of Estate Planning on Pennsylvania Homes, one of the top sites for Pennsylvania homes for sale, including Pottstown, PA homes for sale. Pennsylvania Homes also services New York real estate and Connecticut real estate.
Estate planning can be a difficult topic to think about – this does not take away from its importance. It’s a necessary part of life.
Our team has the knowledge and experience to provide you with sound legal advice and representation.
We are a law firm in Harrisburg, PA dedicated to providing comprehensive, highly personalized planning services to individuals, couples, families and businesses.
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