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On Behalf of Newman Williams, P.C. | Aug 7, 2024 | Estate Planning
Arguably the most important legal document in an estate plan is the will. A will allows the testator to decide how their assets are managed after they pass away. An estate plan is often centered around the instructions in a will. As such, it is important not to make...
On Behalf of Newman Williams, P.C. | Mar 21, 2024 | Estate Planning
A key goal of estate planning for those with considerable assets is minimizing or avoiding estate taxes. This tax, which is currently levied on individual estates worth just over $13.6 million and above, can take a big chunk out of the wealth you want your family and...
On Behalf of Newman Williams, P.C. | Aug 11, 2023 | Estate Planning
In Pennsylvania, when putting your home on the market, you can maximize the selling price by presenting your home in a manner that appeals to potential buyers. While navigating the process, taking specific steps can attract more interest in your property, which also...
On Behalf of Newman Williams, P.C. | Apr 10, 2023 | Estate Planning
When a Pennsylvania resident creates a trust, the party they choose to manage and distribute the trust assets has a great deal of responsibility. Trustees are fiduciaries because they are legally responsible for managing other people’s money. This means that they are...
On Behalf of Newman Williams, P.C. | Sep 23, 2022 | Divorce Law, Estate Planning
Estate planning is a difficult process that many Pennsylvania residents might not want to revisit. However, the decision to not revisit your estate plan or make updates can cause headaches for your remaining family members after you pass away. How divorce can impact...
On Behalf of Newman Williams, P.C. | May 3, 2022 | Estate Planning
Next of kin in Pennsylvania is your spouse, child or closest living relative. If you die without leaving behind a will, then Pennsylvania follows next of kin laws to distribute your estate. Surviving spouse If the decedent has a surviving spouse and no living parents...
On Behalf of Newman Williams, P.C. | Apr 18, 2022 | Estate Planning
Perhaps the most important duty an executor has is to inventory and protect the assets a person owned upon his or her death. This helps to ensure that beneficiaries get what was promised to them in the testator's will. If there is no will, an accurate inventory can...
On Behalf of Newman Williams, P.C. | Jan 18, 2022 | Estate Planning
Opening an estate in a Pennsylvania probate court might be necessary when someone passes away. Even if the person had few assets, probate could provide legal personal representation powers in estate matters. That representative becomes known as the executor of the...
On Behalf of Newman Williams, P.C. | Nov 11, 2021 | Estate Planning
Estate planning in Pennsylvania can be a bit more complicated than in other parts of the country due to the state's inheritance tax. Pennsylvania is also stricter than other states when it comes to what is considered a valid will. If you live in Pennsylvania, it is...
On Behalf of Newman Williams, P.C. | Sep 20, 2021 | Estate Planning
It’s a dream for many residents of Pennsylvania to own a home. If you are looking to buy a house, it can be exciting and overwhelming in a good way. However, it also takes a lot of money when you’re in the market for a home. Knowing how to effectively negotiate the...
