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Why an Estate Plan is Essential for Single People

March 2, 2016

Too many single people don’t think that they need an estate plan. However, they should.

A complete estate plan doesn’t just designate how your assets will be distributed after your death. You can and should have documents in place that designate who will see that your wishes are carried out and manage your affairs if you become too incapacitated to do so.

You can also designate who will take care of your financial affairs if you can’t. This will help ensure that your wishes will be known and honored not just after death but if an unexpected illness or injury befalls you that leaves you unable to speak for yourself. That can happen to anyone at any age.

What Health Care Documents do You Need In Your Estate Plan?

February 19, 2016

Too many people put off estate planning until it’s too late. Over half of all Americans die without any type of will or estate plan, according to the American Bar Association.

While no one enjoys contemplating what will happen after they die, estate planning is about more than that. It’s a chance for you to document what you want to happen if you become too ill or injured to speak for yourself or make your own decisions. That can happen to anyone at any age.

When do You Need to Change Your Estate Documents?

August 12, 2021February 5, 2016

On behalf of May, Herr & Grosh posted in Probate & Estates on Friday, February 5, 2016.

If you have a will, trust and other estate planning documents, you’re better off than most people, even those in the latter half of their lives. However, it’s essential to remember that this is rarely a “one-and-done” process. It’s always best to have an estate plan in place sooner rather than later. However, don’t forget that you will likely need to make some revisions as things happen throughout your life and the lives of your loved ones, as they do for all of us.

What We Can all Learn from David Bowie’s Estate Planning

August 12, 2021January 22, 2016

Music stars are not generally known for their financial acumen or their estate planning. The families of music icons including Jim Morrison, John Lennon, Kurt Cobain and Tupac Shakur have gone through nasty estate battles because these men failed to do adequate, if any, estate planning. The same cannot be said for music legend David Bowie, who recently died from liver cancer just days after his 69th birthday and the release of his final album.

Bowie admitted that he was not always wise in dealing with the considerable amount of money that he earned. In fact, in the 1970s and 1980s, he was reportedly near bankruptcy. However, that seems to have changed in the early 1990s after he married former supermodel Iman and moved to New York.

Help Ensure Your Pets Are Cared For When You’re Gone

August 12, 2021December 31, 2015

Too many pets end up in shelters every year because their guardians died unexpectedly, leaving them with no one to care for them. In many cases, people assume that their family or friends will take care of their animals after they’re gone or maybe they even agree to do so. However, for a number of … Read more

The Importance of Health Care Directives and Living Wills

August 12, 2021December 18, 2015

When many Pennsylvanians seek the services of an estate planning attorney, they intend only to get a will and possibly a trust in place. They want to designate who will get their assets when they are gone. Those documents are a great start to your estate planning. However, experienced estate planning attorneys tell their clients … Read more

Heirs Fight for Artwork They Say Was Stolen by Nazis

September 28, 2022December 4, 2015

Most people who seek possession of a loved one’s assets after a death are dealing with homes, furniture, jewelry and other valuables. However, for two men, one of whom lives in Pennsylvania, the assets in question are paintings that they say were stolen by the Nazis. The man who originally owned the artwork, valued at … Read more

Tips for Talking With Your Family About Your Estate

April 25, 2023November 20, 2015

Many people dread having the estate planning talk with their family. However, this talk involves important topics like what you plan to leave them in your will, who will succeed you in the family business and who will inherit the family home.

The holiday season can actually be one of the best times to have these discussions. If the family is scattered throughout the country, this may be one of the rare occasions when you’re all together. The estate planning talk certainly shouldn’t be the focus of your holiday gathering, but it’s worth taking a bit of time out to take care of it so that everyone is on the same page.

Things to Consider When Leaving Your Home to Your Children

November 5, 2015

For most of us, our home is the most valuable asset we have. It’s also often a highly sentimental one. That’s why you need to give it careful consideration when you do your estate planning. You want to make a smart financial decision about what will happen to it when you’re gone.

Many people leave their home to one or more of their children. That can necessitate some difficult conversations if you have multiple children who were counting on inheriting the family home. Whether you have one property to hand down or an additional vacation home, the bequeathing of all properties need to be done responsibly. Otherwise, there can be legal, tax and financial burdens for your children that you didn’t anticipate.

Odom Incident Should be a Wake-Up Call Regarding Estate Documents

October 23, 2015

Many people throughout Pennsylvania and throughout the country have been watching the latest in the saga of former National Football League player Lamar Odom and his estranged wife, Khloe Kardashian. Odom was initially hospitalized and in a coma after being found unconscious in a brothel in Nevada.

The two had already signed divorce papers. However, because of a backlog in the California courts, the divorce had not yet been finalized.

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