The role of incapacitation documents within estate planning
3/4/2016 | Kaplin Stewart Blog
For many in Pennsylvania, the idea of falling victim to a serious illness or injury seems like an incredibly remote possibility. This is especially true for young people who are unmarried and have no children. While the risk of a young person becoming incapacitated is remote, it is not outside of the realm of possibility. Young adults should set aside the time to create a plan for such a set of circumstances and to draft the estate planning documents that […]
Estate planning should include personal property
2/25/2016 | Kaplin Stewart Blog
When most Pennsylvania residents remember a loved one, it is the small details that define those memories. Afternoons spent reading in an old rocking chair, learning to mix cake batter in a bowl that has been handed down for generations … these are the things that people remember. When a loved one passes away, it is often these small items of seemingly little value that create the most intense family conflicts. It is important to address items of personal property […]
Estate planning after a serious medical issue
2/12/2016 | Kaplin Stewart Blog
At the heart of Pennsylvania families lies the desire to take care of loved ones. This is the primary focus of estate planning, which can be viewed as a means of ensuring that accumulated wealth is handed down to those who are left behind. In some cases, however, the focus of estate planning must shift, and assets must be allocated to the loved one who needs the most assistance. An example lies in a family member who is involved in […]
Without care, estate planning can benefit former spouses
1/27/2016 | Kaplin Stewart Blog
When most Pennsylvania spouses go through a divorce, it is in the hope of severing all ties with their former spouse. Those who share children may have to maintain a degree of cooperation until their kids are grown, but very few divorced spouses will continue to take an active interest in the lives of their former husband or wife. Even so, without the proper level of estate planning effort, it is possible to provide one’s ex with a substantial financial […]
Estate planning questions concerning gift taxation
1/21/2016 | Kaplin Stewart Blog
A primary goal of many Pennsylvania families is to hand down wealth to the next generation in a manner that preserves as much of that wealth as possible. In fact, many estate planning measures are aimed at that goal. Some families are unsure how to structure their estate plan to ensure that their loved ones receive the greatest possible share of accumulated wealth, without incurring undue taxation. One option is to begin passing on wealth prior to death. Gifting is […]
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