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May 2014 Archives

Pennsylvania's aging population urged to plan for care

As the baby boomers enter their 60s, groups that provide end-of-life care call the coming generation of elders a "silver tsunami." The most quickly expanding age group in Pennsylvania is seniors over 85. And, more than 15 percent of the state's population is now older than 65. 

Proposed law would allow wills to cover digital assets

Although the promise of the "paperless society" has yet to realize its full potential, the rise of web-based services such as cloud computing and online data storage, along with web-based email, banking and investing accounts have become increasingly commonplace. But the convenience of being able to access one’s financial and other information from any place that has data connectivity has also on occasion created problems after a person passes away. Online services, often for privacy reasons, may hesitate or refuse to allow surviving relatives access to the decedent’s accounts.

Will contest begins for Mickey Rooney's family

Estate planning documents suited to your situation such as a will, a revocable trust, durable powers of attorney, guardianships and health care directives are imperative in planning for your family’s future and preventing lengthy and contentious court battles after your death. Estate planning is essential in looking out for loved ones and helping reduce disputes over assets.

Pennsylvania woman fights against inheritance tax

The purpose of a last will and testament, colloquially known as a will, is generally to name heirs to one’s estate. Preparing for this eventual circumstance through estate planning can feel somewhat morbid, but it is an important act in order to provide peace of mind and the security of knowing where and to whom your assets will go.

Estate planning serves as buffer against financial shocks

Waiting too long to evaluate retirement needs and put an estate plan together can put Pennsylvania residents at risk of financial shocks. A recent study explored the experiences of eight focus groups of retirees to learn more about how they arrived at decisions, how their finances were evaluated prior to retirement and their success in retirement years. The retirees in the focus group were defined as “resource-constrained.”

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