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People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property ownership is easy to set up. It can be established at the bank when opening an account, through the title company when buying real estate, or, in some cases, after creating an account or purchasing real estate.

You may think that if you die while you are married, everything you own will automatically go to your spouse and children. But you are actually thinking of state rules that apply if someone dies without leaving a will. In legal jargon, this is referred to as dying intestate. In that case, the specifics will vary depending on your state’s law, but generally, your spouse will receive a share of what you own, and the rest may be divided among your children or parents, depending on your situation. Exactly how much your spouse will inherit depends on the state law, though.

Young adults are not known for being the most fiscally responsible people. Yet financial planning is more important than ever for a generation that is struggling with high inflation and debt and has a tendency to prioritize spending over saving. If your advice is falling on deaf ears, try putti...

As our client—and as a parent—you know that having a comprehensive estate plan ensures that your children will be taken care of if something happens to you. But what if something happens to your child? Should they have a will, too? And if they do not, what happens then? These are some of the qu...

The long, carefree days of summer are nearing an end. If you have a high school senior at home, childhood is also coming to an end for them as they prepare to graduate, turn 18, and enter the “real world.” You have done everything you can to prepare your child mentally, emotionally, and financially for what comes next. But are they—and you—legally prepared for their official start of adulthood? Soon, your child will be able to vote, get married, and sign a mortgage. They will also be emancipated from your parental authority. This means that, without signed legal documents, you could find yourself helpless to intervene in an emergency or other situation where your adult child requires aid.

Having an estate plan is a great way to ensure you and your loved ones are protected today and in the future. When creating an estate plan, we look at what is going on in your life at that time. But because life is full of changes, it is important to make sure your plan can change to accommodate whatever life throws your way. Sometimes, we can make your first estate plan flexible to account for potential life changes. Other times, we must change or add to the tools we use to ensure that your ever-evolving wishes will be carried out the way you want.

When most people think about creating an estate plan, they usually focus on what will happen when they die. They typically do not consider what their wishes would be if they were alive but unable to manage their own affairs (in other words, if they are alive but incapacitated). In many cases, failing to plan for incapacity can result in families having to seek court involvement to manage a loved one’s affairs. It does not matter who you are, how old you are, or how much you have—having a proper plan in place to address your incapacity or death is necessary for everyone. Recently, comedian and late night talk show host Jay Leno had to seek court involvement to handle his and his wife’s estate planning needs due to his wife’s incapacity.

Depending on how long it has been since you had your will prepared, it may be time to review your will and its provisions. There are many life events that might result in your current will being misaligned with your ultimate goals. Do you have new loved ones in your life that you would like to include in your estate plan, possibly due to a birth, adoption, or marriage? Has a beneficiary passed away and you have decided on a new person to receive your money and property?

Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust or an inter vivos trust, provides added flexibility and functionality, including incapacity planning.

Wrongful death lawsuits and probate proceedings are both civil legal matters that occur after somebody has died.  When the death of a loved one is caused by another individual or entity, it can lead to the filing of a wrongful death lawsuit and, ultimately, the awarding of compensation to surviving family members. Probate is a court proceeding that deals with administering a decedent’s estate, inventorying their accounts and property, paying off creditors, and making distributions to heirs or beneficiaries.  While probate proceedings are fairly common when a person dies, very few deaths give rise to a wrongful death claim. However, wrongful death and probate can intersect if somebody dies due to another’s misconduct. State laws vary on who has the legal authority to file a wrongful death case. There is also considerable state variation on how the proceeds of a wrongful death claim are distributed to survivors.

Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities including small limited liability companies (LLCs) and partnerships are required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). In these filings, applicable businesses must disclose important information about their entity. However, recent developments have called into question the constitutionality of these requirements.

Is your mortgage preventing you from proper estate planning as it concerns your primary residence? Well, there's an "Act" for that! The Garn-St. Germain Act is a federal law that has had a significant impact on residential mortgages, particularly in the context of due-on-sale clauses. One of the most notable aspects of this Act is its implications for the use of trusts in estate planning.

What happens when a person procrastinates and does not prepare a last will and testament until the last minute when they are aging and health-wise, more vulnerable? This person may or may not have the testamentary capacity to fulfill the requirements of a valid Will. On the one hand, they may be more susceptible to undue influence, fraud, and duress, which would––even if the testator has testamentary capacity––invalidate the Will. On the other hand, upon the testator’s death, even though the Will is offered to probate as valid, the question of testamentary capacity makes it vulnerable to a Will contest. All of this makes it harder and longer for heirs to receive their benefits and inheritance. 

It’s a daunting task to put together an estate plan in Pennsylvania and New Jersey for you and your spouse. When you add children to the mix, it can become more complex. If one of those children has special needs, it’s not only more complex, but imperative—because you may be their only source of support socially, emotionally, and financially.

Small business owners will have one more item on their compliance to-do list now that the Corporate Transparency Act (CTA) has taken effect this year. The CTA, enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities, including the use of shell companies to launder money or conceal illicit funds. Around 30 million small businesses will be impacted by the law, which will establish a federal database of information, furnished by “reporting companies,” that will be accessible to certain authorities and organizations.

Your estate plan in Pennsylvania can include several documents, many of which may require beneficiaries, like any trusts you may have set up or intend to set up and non-probate assets like 401(k), IRA accounts, life insurance policies, and pensions. Assets from these accounts will go to the beneficiaries upon your death. It is important, therefore, to make sure you choose your beneficiaries carefully. 

If you own anything in Pennsylvania, you have an estate. Having an estate means what you own, whether it's a vehicle or a bank account, when you die, it goes to your estate. If you have loved ones or even a beloved charity, you may want to make sure what you have goes to the appropriate person or organization. Estate planning is key to this successful end because through it, your estate can be administered properly and according to your wishes and the law.

A last will and testament is a document you create to instruct how you want your property distributed upon your death. Who gets the house? Who gets which antiques? Who gets a bank account? Who takes care of the pets? These are just some of the questions a will can answer and instruct, and just some of the information important to consider when drafting a solid last will and testament that can stand up in probate and prevent challenges to its validity.

Probate, Orphans' Court, and Register of Wills are terms that often come up in discussions about estate planning and estate administration in Pennsylvania. But what do these terms mean?