Power of attorney allows you to appoint someone you trust to manage your financial and medical affairs during your lifetime if you become incapacitated. However, there are some common mistakes that people often make when dealing with POAs. Understanding the most frequent mistakes will help you avoid them and ensure that your power of attorney is enforceable and effective to accomplish your goals. Mistake 1: choosing the wrong agent The agent receiving your power of attorney will have significant control over your finances and healthcare decisions. Choose someone you trust implicitly. Avoid app ..read more

$12,859 PER MONTH! The average cost of nursing home care in PA last fiscal year was $12,869.59 per month, or almost $155,000 per year. If you have to go to a nursing home, would you rather lose it all, or keep some of your hard-earned savings? Would you rather end up with less, or more? You don’t have to spend it all. If you just let the nursing home staff advise you, they will tell you to spend down almost ALL of your money on a private pay basis till there’s very little left, then get Medicaid.  They’re not going to advise you about proactive, affirmative, creative strategic planning to ..read more

After a loved one has passed away, certain steps are needed for which people often use a lawyer’s help. There are other practical and legal actions and decisions that family members can usually undertake without the help of an attorney. Which steps require an attorney? “Administering an estate” means to wind up somebody’s affairs and conclude all necessary business and arrangements after someone has died. “Probate “refers to the legal actions and filings necessary for assets left behind without any beneficiary named (see more below). Certain family and practical matters – including some decisi ..read more

As an elder law attorney, I help my clients every day regarding probate and estate related questions. Together we work and take legal steps to protect or save their hard earned money or inheritance. Legal issues almost always have bottom line monetary results. Here are four things you may not have known about common probate and estate related legal issues and principles that may either save you or cost you money. Joint and transfer on death accounts are not controlled by the will Sometimes people confuse what is controlled by the Will and its terms and provisions, and what is not. Remember tha ..read more

The time after a loved one dies could feel confusing or overwhelming. Probate, the legal process of settling a deceased person’s estate, often has a long waiting period. Some key steps are contributing to the seemingly endless duration of probate. Verifying and gathering documents The first phase of probate involves the scrutiny and collection of various documents. 45% of adults in the United States say that they have a living will as of 2020. From the deceased’s will to financial statements, every piece of paperwork demands careful attention. Professionals must verify each document for authen ..read more

When contemplating the creation or update of a will, it is important to consider the potential impact of inheritance tax on your beneficiaries. In Pennsylvania, like in many states, there exists an inheritance tax that may apply to the assets you leave behind. By shedding light on the key aspects that individuals should be aware of when navigating inheritance tax, you can ensure a smooth transition for your family after your passing. Defining inheritance tax In simple terms, an inheritance tax is a levy imposed on the transfer of assets from a deceased person to their heirs. In Pennsylvania, t ..read more

For parents of special needs children, ensuring their well-being and security is a top priority. One aspect that you should not overlook is estate planning. This process involves making arrangements to protect your child’s financial future, healthcare and overall quality of life. Establish a trust fund A trust fund is a financial tool that allows you to set aside assets for your child’s future needs. According to the NCES, in the 2021-22 school year, there were 7.3 million children with special needs between the ages of 3 and 21. Parents of these children should plan for their kid’s future in ..read more

Receiving long term care services means you’ll have to spend down all your money: FALSE – with the right planning, we can almost always save money for a long term care or disabled patient. Also, it’s never too late to try, even if you’re already on the doorstep or in a long term care facility. With basic or sophisticated lawful strategies that work, you don’t have to spend it all, though part that you keep may be in the hands of your family or others for you. It’s easy for a beneficiary, or for someone left out of a Will, to challenge or overturn a Will: FALSE – Most Wills and legal documents ..read more

There are many factors to consider when estate planning, including the potential for probate and the effect it can have on your beneficiaries. Unfortunately, many people are unfamiliar with probate and what it means for their estate. Understanding the probate process helps you appreciate why you might want to take steps to avoid it. What is probate? Probate is a legal process occurring after your death in which the court evaluates your will and your estate, then authorizes your estate administrator to settle your debts and distribute the remainder of the estate according to the will. Without a ..read more

If I die without a will, will the state of Pennsylvania take my property? No, if you die without a will, or “intestate,” your property goes to your “heirs” under Pennsylvania law – your closest family relatives, but if you have no family relatives, your estate could be forfeit or “escheat” to the Commonwealth. (The lesson?  Make your own choices! Otherwise it’s like letting some clowns in Harrisburg decide who will inherit from you I’m named in someone’s will as the executor. Am I the executor already? No, you are named to become the executor, but to be officially appointed you have to fi ..read more