Estate Planning

The personal representative of an estate in Pennsylvania has a lot of responsibilities. They have to locate any estate planning paperwork that the deceased drafted and secure estate resources. They need to communicate with beneficiaries, the probate courts and...

If someone asks a member of their family or inner circle to serve as their executor, they probably trust that individual. Similarly, if the probate courts appoint someone to serve as the administrator of an estate, that is likely a sign that the individual in question...

As a company owner, you’ve invested time, energy and resources into building the family business. You’ve worked hard to establish a successful enterprise, and now you’re considering the future—specifically, whether your children are ready to take over the family...

For many families, the estate administration (probate) process is relatively dull, if a bit lengthy. First, the court appoints someone to handle the deceased party's affairs or formalizes the choice of executor named in the deceased’s will. The executor or personal...

A family limited partnership (FLP) is a business structure and an estate planning tool. It allows family members to benefit from the profits of the business whether they’re actively part of it or not. An FLP, which needs to include at least two people, is typically...

Even when the family business lasts through the first generation, the vast majority fail by the third generation. Many of them don't even make it through the second generation. This means that, if you start a business and then try to leave it to your children, the...

As a parent with more than one child, you have already likely learned the difficult lesson that it is impossible to be absolutely equal in your treatment for your children. In fact, doing the same thing for all of them could be unfair as they have different abilities,...

Far too many people put off creating a last will and estate plan until they reach retirement age or after a diagnosis with a serious illness. In reality, the more assets you have and the more complex your family unit, the more important it is to create an estate plan...

We are fond of saying that everyone - no matter their age, health or wealth - should consider the benefits of developing a comprehensive estate plan. In addition, business owners should take the time to decide on a succession plan in the event of their untimely death...