Philadelphia probate law and commercial litigation blog

No one enjoys contemplating the end of their life or health as they age. The avoidance of this unpleasant reality is one reason that people give for failing to adequately plan for their needs as they get older.

Many people put off creating an estate plan or last will for far too long, leaving themselves and their loved ones vulnerable if something unexpected happens. Another mistake that people make far too often is the decision to avoid planning for the potential of health issues as they age.

Right now, no matter when you read this, we are living in the future, a future that is much more complicated than the people trying to envision it even 40 or 50 years ago could imagine.

One of the most significant changes of the modern world is that child mortality has dropped immensely, while life expectancy has increased. This means that more of us are making it to adulthood, and once we do, we are, statistically, living longer lives.

You have recently started your own business, or you are preparing to start one. You feel excited but nervous for this new chapter in your life. In addition to handling the many day-to-day aspects of establishing a business, you also spend a lot of time worrying about the challenges that your new business may face.

Business ownership is not for the faint of heart. The majority of small businesses will eventually go under, unless the owner is proactive in anticipating the numerous problems that plague small businesses. In this post, we will go over a few of these obstacles and address what you can do to prevent or manage them.

As a young individual, you know there are plenty of areas in your life that require immediate attention. Maybe you still have some student debt to pay off, or you are looking to upgrade from an apartment to a house. Based on how you have seen your family or society work, you might have a certain set of expectations on when to place your financials at different points in your life.

However, there are some aspects in life that require long term planning. While there has been more attention placed around saving for retirement, that is not the only part of life that can benefit from early planning. You can also start estate planning as early as your 20s, however most Americans do not practice it. Over half of the country does not have a will or trust in place, and there are only 22 percent in the 18 to 36 demographic that do. The major question asked by millennials is what do they have to benefit from early estate planning.