Many people believe the estate planning process is a one-time endeavor. However, estate planning is a life-long process. Testators have the opportunity to update their estate plan whenever they wish. By updating your last wishes, you can protect your interests. Here...
Wills and Estate
Why consider setting up a special needs trust for your child?
On Behalf of Bellwoar Kelly, LLP | Sep 16, 2024 | Wills and Estate
If you are a parent to a loved one with special needs, you may be wondering how to make sure that their affairs are well taken care of after you are no longer able to provide for them. Creating a special needs trust (SNT) can be a crucial step in providing for their...
Can an estate plan protect your elderly parents from scammers?
On Behalf of Bellwoar Kelly, LLP | Jul 31, 2024 | Wills and Estate
It’s becoming a common theme on the evening news: an older adult lost their life’s savings at the hands of a scammer. Not only does it make you angry, but it also causes you to start worrying about your own elderly parents. No adult child wants to take away their...
What are the main differences between a will and a trust?
On Behalf of Bellwoar Kelly, LLP | Feb 5, 2024 | Wills and Estate
Someone drafting an estate plan typically wants to provide instructions about what should happen after they die. They create testamentary documents describing their wishes for a memorial service, naming someone who could act as a guardian for their minor children and...
Estate planning to protect your kids if your spouse remarries
On Behalf of Bellwoar Kelly, LLP | Jan 18, 2024 | Wills and Estate
Creating an estate plan forces you to face the inevitable yet unsettling thought of what may happen in the far future. What happens to your children if you pass away? Will your spouse continue to care for them after remarriage? You want to support your spouse but also...
3 reasons to add power of attorney to Pennsylvania estate plan
On Behalf of Bellwoar Kelly, LLP | Sep 20, 2023 | Wills and Estate
Powers of attorney are some of the most useful documents that people can include in an estate plan. However, there are millions of adults who might benefit from powers of attorney who never get around to drafting them. People often fall into the trap of assuming that...
Tips for disinheriting someone effectively
On Behalf of Bellwoar Kelly, LLP | Jul 20, 2023 | Wills and Estate
You’re not obligated to leave your assets and possessions to anyone. Your family members may expect to be included in your estate plan, but you can cut them out of that plan if you want. This is known as disinheritance, and it is entirely up to you. That being said,...
Should you tell your children everything that’s in your estate plan before you pass away?
On Behalf of Bellwoar Kelly, LLP | Jun 5, 2023 | Wills and Estate
When it comes to estate planning, one important question that often arises is whether you should disclose all the details of your estate plan to your children before you pass away. This is a deeply personal decision, as it involves considerations of family dynamics,...
Can you be too young to make an estate plan?
On Behalf of Bellwoar Kelly, LLP | May 17, 2023 | Wills and Estate
The average adult doesn’t have an estate plan. Even people who know that they want to have an estate plan and who see the value in creating one may still put off making that effort. As a result, most Americans have not done so, statistically speaking. One of the...
Should you consider your digital assets in an estate plan?
On Behalf of Bellwoar Kelly, LLP | Nov 18, 2022 | Wills and Estate
Digital assets were probably not included in your parents' estate plans. If you last reviewed your plan more than ten years ago, they might not be mentioned there either. But they should be. Your digital assets include everything of yours that lives online, on your...
Who can create a valid will in Pennsylvania?
On Behalf of Bellwoar Kelly, LLP | Nov 16, 2022 | Wills and Estate
When you die, there are Pennsylvania state laws that can guide the process of distributing your property to family members. Intestate succession laws specifically focus on the rights of spouses and children, although more distant family members also have inheritance...
Be aware of the state inheritance tax during your estate planning
On Behalf of Bellwoar Kelly, LLP | Nov 2, 2022 | Wills and Estate
As you start thinking about your estate plan, one of your goals is likely to maximize the assets your heirs and other beneficiaries will get to keep. That means minimizing taxes – not just estate taxes that can diminish the value of your estate, but the inheritance...
What is a power of attorney?
On Behalf of Bellwoar Kelly, LLP | Sep 19, 2022 | Wills and Estate
When you make your will, you’ll have to take inventory of all your assets, decide who’ll benefit from your death, who’ll care for your assets during the probate process and assign someone to care for your children. Often, people only consider their will as a plan for...
How to account for digital assets in your estate plan
On Behalf of Bellwoar Kelly, LLP | Sep 1, 2022 | Wills and Estate
Digital assets were once an incredibly niche form of personal property. They were easy to overlook when planning an estate. However, as people increasingly lead their lives online, digital assets have become more common and more valuable. If you don't address your...
The benefits of an estate plan
On Behalf of Bellwoar Kelly, LLP | Aug 19, 2022 | Wills and Estate
No one knows when their time will come, but everyone should be prepared for the eventuality. An estate plan is one of the most important steps to ensure that your loved ones are taken care of after you're gone. An estate plan can also provide peace of mind in knowing...