Pa Estate Law – 2 – Planning

There are four primary documents that tend to form the foundation of most good Estate Plans.

Pa Estate Law – 2 – Planning

Power of Attorney
Advance Directive for Health Care (“a Living Will”)
Last Will and Testament (Last Will)
Trust (at times)

Pa Estate Law – 2 – Planning – Note

Although each document has a different purpose, each document designates someone who is responsible for carrying out the wishes set forth in the document. I refer to these people – those in charge – as “The Bosses.”

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This article, which I published in the The Pennsylvania Law Weekly in the Spring of 2009 (with a few minor changes) is still relevant today. You can also review this article in the series of posts that have been – and will be – published in this blog.

Pa Estate Law – 1 – Intro
Pa Estate Law – 2 – Planning
Pa Estate Law – 3 – Taxes
Pa Estate Law – 4 – Fiduciaries
Pa Estate Law – 5 – Powers
Pa Estate Law – 6 – Traits
Pa Estate Law – 7 – Documents
Pa Estate Law – 8 – Pointers

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Pa Estate Law – 1 – Intro

Estate Planning

The best gift you can give your loved ones is to have your Estate Planning complete.

Estate Planning – Misunderstandings

Unfortunately, to a great extent, misinformation about critical legal terms such as inheritance tax, estate tax, probate, avoiding probate, simple will, living will, and living trust, tends to lead to misunderstandings of estate planning.

These misunderstandings, in turn, tend to lead to mistakes in estate planning.In an effort to eliminate such misinformation, misunderstandings, and mistakes, this article will hopefully serve as a primer – in very simple terms – of the basic, core issues and legal terms of Estate Planning and its basic documents.