OWM Blog – Basics of Estate Planning

Unfortunate, tragic occurrences can happen in life without warning. Accidents, illness, and even death can happen at any time. In Pennsylvania, there are a number of methods by which you can protect yourself and your loved ones from the ramifications of these situations.

In the following article, we will discuss the three (3) fundamental estate planning documents that every person should have. …

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How Does a Vacation Home Fit Into Estate Planning?

vacation home estate planning

You are meeting with your lawyer and discussing your estate planning.  The discussion expands from how your estate consists of current home, bank accounts and other probate assets.  You then begin to discuss your vacation home and what you intend to happen when you and your spouse pass away.  Most parents, and sometimes aunts and uncles with no children but very involved nieces and nephews, assume that the vacation home will pass to the next generation.  However, estate planning for a vacation home warrants a more in-depth discussion since there are issues that may not arise with the outright distribution of other assets. See the article in Elder Law Answers for more detailed information.

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OWM Newsletter – Stock v. Asset Sale When Buying or Selling a Business & Don’t Procrastinate: Why You Need an Estate Plan

FEATURE ARTICLES – “Stock v. Asset Sale When Buying or Selling a Business” by Joseph K. Koury, Esquire and “Don’t Procrastinate: Why You Need an Estate Plan” by Rebecca A. Hobbs, Esquire, CELA.

OWM FIRM NEWS & UPCOMING EVENTS – Kathleen M. Martin, Esq. and David A. Megay, Esq. have upcoming information sessions.

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OWM Blog – Don’t Procrastinate: Why You Need an Estate Plan

Recent news headlines of well-known and affluent celebrities dying without an estate plan, has had me scratching my head and wondering, “why do people procrastinate estate planning.” I decided to ask close friends and family members if they had an estate plan, and if not, what were their reasons. Although I received answers of, “just not something at the top of our list” or “life is busy”, the overall theme was a fear of the unexpected. Each person I spoke with were aware of the importance of estate planning, they knew they needed to have it done, but they were not sure what all was involved. Estate planning is nothing to be nervous about, and finally checking this item off your “to do list” can be relieving. Let me explain the process and what is involved, hopefully if you have been putting off estate planning, this will help you understand the process and feel more comfortable. …

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OWM Special Newsletter – National Elder Law Month

Local Elder Law and Estate Planning Attorneys to Offer Free Document Review

O’Donnell, Weiss & Mattei, P.C. will be participating in National Elder Law Month this May by offering a free 30 minute consultation with an attorney to review current estate planning documents – Wills, Powers of Attorney, Living Wills. Please call one of our offices at (610) 323-2800 or (610) 917-9347 to schedule your free 30 minute consultation with one of the attorneys in our Elder Law Department in either the firm’s Pottstown or Phoenixville office.

For more information, please read our full newsletter.

Do I Need a Trust?

Let’s talk about trusts.

I have my morning routine down. The alarm goes off, I jump in the shower, and immediately throw on my robe and put my hair in a towel.

This is followed by a race to the kitchen to grab a cup of coffee. I carefully walk upstairs, making sure not to spill a drop of my much-needed caffeine. Then the task of finding something to wear begins. I usually stand in the middle of my closet, sipping my coffee and trying to narrow down my options.

I relish this moment. The moment I get to myself. With my coffee, standing in my closet, before my kids wake up. A moment that is just about me. These moments are very rare. It is in those moments that I plan my day.

Once my day is planned, I can carefully select the outfit that matches my day. If I don’t take this moment, I usually end up emptying the contents of my closet onto my bed scrambling for anything that is clean and fits. I need my moment with my coffee, standing in my closet, planning, or I’m a mess.

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OWM Blog – Estate Planning for Young Families with Children

Estate Planning in Pottstown & PhoenixvilleAs a mother of two young children, I am often surprised to discover that many of our friends and family who also have young children do not have an estate plan. When I ask them why, the response is often “I don’t have an estate to plan for.”  Many families with young children are just starting out and have not yet begun to accumulate wealth. However, estate planning during this stage of life is still very important. One of my biggest treasures in my life are my children, and establishing a plan for them in the event that my husband and I would pass away simultaneously is a big priority.

Additionally, I have found that many young parents fail to consider that if both parents would pass away simultaneously there may be term life insurance policies through employers as well as a 401(k) and other retirement accounts paying to their minor children and they need to plan appropriately for those assets.

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