When organizing a plan for your estate, you need to appoint a trusted person to act in a legal capacity if you become temporarily incapacitated. The person you appoint in your power of attorney handles your property to maintain your finances when you cannot do so. ...
Estate Planning
What end-of-life issues can your living will address?
If you have a chronic or terminal disease, there are many medical treatments available that can extend your life as long as possible. However, you may prefer to let nature take its course. If you have a living will, you can make your wishes known to your doctor and...
Determining if your loved one requires a special needs trust
Caring for your loved one with special needs requires careful planning to provide sustainable support. As the primary caretaker, one of your biggest concerns is who will take over the responsibility of caring for your family member after you pass away. Implementing a...
How often may I change the beneficiary of my will or trust?
You may modify most estate planning documents as often as you wish until your death. If you need to make a change to your will, you may execute a codicil to name a new beneficiary or remove an existing one. Major life events such as a marriage or divorce may motivate...
What are the benefits of a living trust?
Estate planning is not a ‘one size fits all’ situation. Depending on your specific situation, you may require different documents and planning strategies than someone else. A living trust is a document that may be extremely beneficial to your situation. While you may...
The importance of beneficiary management
For a document that could determine where thousands of dollars go, the beneficiary form does not get the attention it deserves. A few unusual aspects of this document demand that a person fills out the form correctly. The document remains in force whether or not it...
What should new parents include in their estate plan?
The birth of your first child can be joyful, breathtaking and nerve-wreaking all at once. New parents in Altoona will take many steps to prepare for their new arrival, but one step they should not overlook now that they have a child is estate planning, both for their...
What makes a will valid?
Having a valid will is exceptionally important which is why estate planners need to know what makes a will valid when estate planning. There are several different components that wills must meet that estate planners should know as they are setting up their will to...
What is modification by circumstances with a completed will?
Pennsylvanians who understand the importance of estate planning and have completed a will might be under the impression that the document does not need to be addressed after the fact. However, there are factors that might make it necessary to update a will or face the...
How do I plan for incapacity?
Planning for incapacity is an important thing for every estate planner to do. For that reason, estate planners should be familiar with the different estate planning tools to help them plan for incapacity. Power of attorney for healthcare A power of attorney for...