The personal representative of an estate (executor or administrator) has a legal duty to take custody and control of a decedent’s estate. He or she must identify the estate assets, protect the assets, value the assets, and then distribute the assets pursuant to the decedent’s last will and testament or Pennsylvania law. Assets include the […]
Handling Real Property in a Decedent’s Estate Read More »
A friend or family member passes and you are named as the Executor in the Last Will and Testament. What do you do? Understanding Key Terms Codicil. A written amendment to the Will Decedent. A person who passed away Estate Administration. The process to settle an estate Executor or Executrix. Also known as a Personal
How to Settle or Close an Estate in Pennyslvania Read More »
What is a trust? A trust is a separate legal entity for holding and investing property. One or more persons (the “trustee”) holds property, usually real estate or investments, for the benefit of another or several other people (the “beneficiary”). The person who gives the property for the trust is known as the “donor” or
Pennsylvania Estate Planning and the Use of Trusts Read More »
A comprehensive estate plan should include a Power of Attorney. A Power of Attorney or “POA” is a legal document in which a person appoints another to make decisions and carry out specific duties on behalf of the person. Pennsylvania authorizes a “Durable” POA which means that the powers given to another are exercisable notwithstanding
Durable Power of Attorney Under Pennsylvania Law Read More »
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