Millions of baby boomers are living healthy, longer lives. Studies show that nearly one in seven adults over the age of 65 will need long-term care at some point in their later years. To ensure you have a plan in place for your care and to navigate the complex long-term care system with ease, begin […]
Estate planning is a crucial aspect of financial management for everyone, but it holds particular significance for women. Statistically, women tend to live longer than men, and as a result, many will likely be responsible for making critical decisions about the future of their family’s wealth. Why is estate planning especially important for women? There […]
Estate planning is an important part of planning for you and your family’s future. Despite how important it is, many people put it off or avoid the task altogether. Creating an estate plan doesn’t have to be an intimidating experience. At Conti Law, we want to prepare you for the experience. The more you understand […]
Most of us would like what we’ve worked hard for all of our lives to continue to provide for our families for a long time, even after we pass. We’d like it if that money didn’t go straight to creditors or get spent on things that are frivolous. As such, it’s normal if you have […]
Talking about what you want to happen at the end of your life is difficult and emotional. Most people are uncomfortable when confronted with their own mortality or the fact that mom and dad won’t be around one day. That’s why it’s important to think about what you want to happen to you when you […]
Not less than once a week, I hear a client say something to the effect of, “my wife wouldn’t do that!” or “My kids are really good…They won’t fight when I die.” There’s also the infamous, “They all get along – they won’t fight over the few bucks I have.” Though I may not know […]
If you have a special needs child, you have probably spent years learning everything that is best for your child’s medical and financial care. Even though you may be very familiar with their assets and their medical treatment, you could run into issues talking to financial institutions and medical providers once your child turns 18 […]
All too often, I consult with clients who had a parent who passed away who had remarried but hadn’t made the prerequisite arrangements for their estate. This essentially leaves two different families with the task of sorting through what passes to whom. Questions like, “Why wouldn’t they have done this before they died?” or “Why […]
Do you have a power of attorney in place? What happens if you don’t and the day arrives when you are unable to make a decision for yourself? Typically, your medical and financial durable powers of attorney specify who is authorized to act in your stead and to make decisions for you. If you do […]
Time and time again, the same scenario rears its ugly head: estate planning was put off until it was too late and, upon the first spouse’s passing, the surviving spouse learns that all isn’t well in their world. Titling of your assets is imperative. Just because you’re married does not mean that you will inherit […]
Imagine if you find yourself in a situation where you become unexpectedly ill – unable to speak for yourself, manage your financial affairs, make medical decisions concerning your wishes… although scary, this reality is what many individuals are finding themselves during the Covid-19 pandemic. We have been interviewed since the virus reared its ugly head […]
One of the first calls a family usually makes after a loved one passes is to their attorney, at which point we begin to explain the process of settling the estate. And the response is unanimous – it costs how much?!? Among the ever-increasing funeral expenses is the cost to settle the estate, which ranges […]
I’m sure you’ve heard the terms “will,” “trust,” “power of attorney” and “health care directive” in the past. What do these terms mean, though, and when are they actually needed? If you don’t know the exact meaning of these terms, you aren’t alone. Even the most basic estate planning documents are commonly misunderstood. One of […]
If we are fortunate, we all grow older. We all experience life and its set of obstacles. And eventually we all die. I’m often asked what a person NEEDS to have and the repercussions if they don’t. Truth be told, if you fail to plan ahead, the State has fail safes in place to […]
It’s rare that I advise my clients to add their child’s name to one of their assets (bank account, real estate, car, etc.) during their lifetime in order to save from probate (a court process designed to pay debts and transfer assets from a decedent’s name) and future tax consequences. For instance, let’s assume that […]
A Pooled Trust (also known as a (d)(4)(C) trust) is a special needs trust created by Social Security legislation in 1993 which allows individuals with disabilities to maintain their public benefits while setting aside funds to pay for their needs. The trust is managed by a non-profit organization as trustee. A Pooled Trust Company provides […]
Most of us dream of that special day when we walk down the aisle. The bride, dressed in a froth of white with beautiful flowers in her hands, is accompanied by her groom and surrounded by their closest friends and family members as witnesses to their love. Oftentimes, this day costs us one year’s salary! […]
2020 was a year like no other for many of us. Who would have expected the pandemic, homeschooling and a global shutdown?! Even though we practiced social distancing, one common factor stands out amongst our clients – an influx of pet adoption. If you know me, you understand my love of all animals. If I […]
Often times, folks have heard the term “guardianship” but really don’t know what it means. In Pennsylvania, if someone is incapacitated and does not have a power of attorney appointing another (their “Agent”) to manage their financial affairs and to make medical decisions on their behalf, or is unable to execute one because of their […]
The Secure Act has made several changes to the way we advise naming a beneficiary to a retirement account. In the past, it was very common for clients to request we name their revocable living trust as the beneficiary of their retirement accounts due to the distribution language of the trust. This allowed the trust […]
“In this world, nothing can be said to be certain, except death and taxes.” Benjamin Franklin sure knew what he was talking about so many years ago when he uttered the infamous line. I am asked all the time how taxes can be reduced upon a person’s passing so that their loved ones don’t have […]
One of the most common questions I’m asked when a loved one dies is “Do I have to pay inheritance tax?” The answer, almost always, is YES! The follow up question then asked is “EVEN IF I DON’T LIVE IN PENNSYLVANIA?”. Unfortunately, the answer still is YES! Then there’s “Even if I didn’t inherit a […]
While counseling my clients, we often hear of the one bad-seed beneficiary who won’t be happy with their share of assets upon my client’s passing. They ask what we can do to protect their estate and other beneficiaries from any possible contest. It’s sad, but there’s always one who doesn’t abide by the old adage: […]
Do you have a Power of Attorney in place? What happens if you don’t and the day arrives when you are unable to make a decision for yourself? Typically, your Medial and Financial Durable Powers of Attorney specify who is authorized to act in your stead and to make decisions for you. If you do […]
Most people die with some form of debt, be it credit cards, student loans, mortgages and lines of credit. While some people die with an insolvent estate, meaning that their debts far outweigh their assets, what happens if mom dies with a Will stipulating her assets are to be equally split amongst her children, yet […]
The Secure Act has made several changes to the way we advise naming a beneficiary to a retirement account. In the past, it was very common for clients to request we name their revocable living trust as the beneficiary of their retirement accounts due to the distribution language of the trust. This allowed the trust […]
It is likely that you or someone you know is on their second, third, maybe even fourth marriage. Although they have found happiness more than once in their life, there are many complications that exist with a blended family. One such difficulty is determining who receives your assets upon your passing: your spouse, your children […]
No one wants to believe that it’s a possibility, but over the years, I’ve heard more horror stories of kids stealing from their incapacitated parents, or “borrowing” money hoping their siblings wouldn’t find out what they were doing. We advise our clients that having a power of attorney is the foundation of any good estate […]
We’ve all heard the old adage “Don’t try this at home.” The same holds true for administering an estate without the knowledge and guidance of a trained estate planning attorney. While in my many years of practicing in the estate administration field, I can tell you stories of how someone’s attempt at settling an estate […]
Many people choose to lower their tax bill by making charitable contributions. There are certain steps that a person can take to be sure that their contributions are reflected on their tax returns as well as in their estate plan. But how? With the recent election, regardless of which way you voted, I’ve been asked […]
You’ve worked so very hard during your lifetime and made a concerted effort to save for your retirement, often times with the goal of leaving a piece of your legacy for your children. But is your IRA protected? Keep reading to find the top 5 reasons why naming an individual as the beneficiary of your […]
It isn’t uncommon that I’m told that “a neighbor suggested…” or “my brother-in-law said…” when asking a client why a document was drafted a certain way or why an account lists a specific beneficiary instead of all the children equally. Although well meaning, this “advice” may lead to disastrous results. Everyone’s estate plan is not […]
Sadly, it has become standard to ask my clients whether they have any concerns with a loved one with substance abuse. In the past, this subject was taboo – client’s preferring to keep skeletons hidden. However, today with the opioid endemic unyielding to discriminatory factors such as race, age and wealth, it has developed into […]
Women, on average live longer than men. How does this average involve your estate planning? As a result of the longevity of women over men, there is an increased need to plan for physical and/or mental incapacity that can occur in your later years. Discuss with your estate planning attorney how long-term care insurance can […]
I’m sure you’ve heard the phrase “elder law” before and may even have met an elder law attorney but do you know what it actually means to be an elder law attorney? I’m often asked if, as an elder law attorney, I only work with old people. The truth of the matter is that I […]
Most people who have a pet treat them as a part of their family. Others go so far as to provide for them in their estate planning documents. But what happens if you don’t have a will but have a trust instead? Why probate your estate just for your dog’s sake? In this article I’ll […]
Sometimes, even basic documents can lead to messy litigation upon your passing. When discussing estate planning, most of my clients skate past the topic of choosing someone to act as a power of attorney or executor they trust. Of course, we trust our child… I’ve heard it many times. But what happens when that person […]
Do you have a loved one with disabilities? If so, do you wonder what the smartest way is to save money for them and to provide for them in the future? If so, keep reading to learn whether an ABLE account is a way to go rather than a traditional special needs trust. The Achieving a […]
I recently had a client who hired me to settle her mom’s estate. She cried in disbelief when she realized how expensive everything was. It costs a lot to die! Read on to learn how to prevent this same reaction from your daughter when it’s your turn to go. When we think of preplanning in […]
It’s no secret that it’s likely that you may end up being married or in a long term relationship with more than one person during your lifetime. A blended family can take several forms – a married couple who has children from a previous relationship, families with children who are in a second marriage and […]
In 2014, after a whirlwind year for same sex couples, the United States Supreme Court struck down portions of the Federal Defense of Marriage Act and then the US District Court ruled that Pennsylvania’s ban on same-sex marriage was unconstitutional. This is amazing… but now what do we do? As a result of the Pennsylvania […]
You’ve been designated as the trustee of a special needs trust. Or maybe you have a child with a special needs trust. You know that it’s important to plan ahead so that they don’t lose their benefits, but now what? First party special needs trust, self-settled trust, d4a, d4c third party settled self-funded special needs […]
Here are some frequently asked questions (FAQs) about Estate Planning and other legal matters. What is a probate? Probate is a legal process in which a court appoints someone, subject to a judge’s supervision, to manage a descendant’s estate, including paying the debts and distributing the property of the descendant. What is a probate estate? […]
What is a living trust? A living trust is a legal entity, sometimes referred to as a revocable living trust, created by a person to hold title to his or her property in order to avoid the probate process. How does a living trust avoid probate? A living trust allows you to avoid the necessity […]
As a concierge attorney, oftentimes I find myself sitting with my clients in their living rooms and at their kitchen tables listening to their problems, their concerns, and helping them navigate their goals. And believe me, I’ve heard it all. Let’s face it; most people don’t want to talk about what happens when they die. […]
My clients are intelligent people. What stops them from initially reaching out to me when they begin having thoughts and ideas about planning for their future? The uncertainty of our futures – whether it be an unexpected illness or death, even the idea of living to the age of 95 is intimidating. We’ve all heard […]
A challenging and crucial element of special needs planning involves staying current with the continually evolving policies and regulations of public assistance agencies, like the Social Security Administration. These ever-evolving policies have an immediate effect for someone on public benefits. Without staying up to date, this could lead to a reduction in benefits or even […]
You have your documents drafted, signed and put away… most people don’t discuss the estate administration process before a loved one dies because let’s face it, who really wants to? But if the person you named as your Executor doesn’t know what to do, they could fall victim to one of the five most common […]
I’m sure you’ve heard the phrase “Elder Law” before … or have met an elder law attorney but have you ever wondered what that term means and what exactly an ‘elder law” does? Keep reading to learn why sometimes it’s important to meet with a specialist when it comes to your long-term care planning rather […]