As the Executor of an estate, numerous practical responsibilities fall to you when someone dies. You have to carefully fulfill your obligations for your own protection and for the benefit of those who stand to receive property from the estate. Identifying your...
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Estate Planning
4 estate planning errors to avoid
Estate planning is a topic that some people prefer to avoid. For some, talking about an estate plan means discussing their mortality, and they would rather not do that. But once you have made the decision to step forward and create an estate plan, make sure to do...
3 further reasons to update your Pennsylvania will or estate plan
Maintaining an estate plan involves reviewing your documents, including your will, every few years. Regular reviews allow you to address potential problems with your estate plan, assets or beneficiaries. For example, your final will may fail to meet your needs amid...
Work on these 3 documents for a strong estate plan
Having an estate plan is one of the most important things you can do to protect yourself and those you love. An estate plan helps your loved ones avoid the probate process, receive assets as an inheritance more easily and prepare them for making decisions the way that...
Three compelling reasons to update your will
If you have drafted your will, you have taken one of the most important steps for your future and loved ones. A will is an important estate planning tool that outlines your wishes with respect to how you intend to have your assets distributed when you pass on....
Understanding Pennsylvania inheritance tax
One of the common questions Pennsylvania residents ask when preparing their estate plans is, “how will my assets be taxed upon my death?” Most are delighted to know they do not have to worry about federal tax since Uncle Sam only imposes an inheritance tax on estates...
How do I choose an executor?
Estate planning for seniors in Pennsylvania can be a straightforward process if it is well organized and thoughtfully contemplated. One major decision you must make is who is going to administer your estate once you are gone. Here are some tips: *When thinking about...
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...
How Does a Vacation Home Fit Into 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...
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...