Blog
We strive to make the process of estate planning and estate administration as simple and straightforward as possible. At American Wills and Estates we speak to our clients in plain English, and we are sensitive to the fact that many of our clients are still grieving the loss of a loved one. Our number one goal is to put our clients at ease and to reassure them with competency and compassion in their times of need.
Celebrity Estate Planning Mistakes
JAMES GANDOLFINI died on 6/13/2013 in Rome as the result of a Heart Attack.
ESTATE MISTAKE:
Tony Soprano might have been a wise guy, but the actor who played him might not have been too smart for not putting his estate into a trust. He left only 20 percent of his estate to his wife, who had an unlimited deduction as his spouse. So 80... Read More
Celebrity Estate Planning Mistakes
PAUL W. WALKER, IV
AGE: 40
DIED: 11/30/2013; Valencia, CA; Car Crash
ESTATE MISTAKE:
The "Fast & Furious" actor used a pour-over will to funnel his $25 million estate into a trust for his 15-year-old daughter. This arrangement makes the estate a public affair. He also failed to update his plan for 12 years, so it might not... Read More
Writing Your Own Last Will and Testament is Not a Good Idea
WHY A HANDWRITTEN WILL IS A VERY BAD IDEA
A handwritten Will is known as a holographic will and are typically valid provided they comply with a state’s statutory laws. Thus, the old adage that you could write your Will on a napkin and it would be perfectly legal. Legal? Perhaps. A good idea? Probably not. Many folks may like the idea saying... Read More
The Probate Estate Administration Process Doesn't Have to be Scary.
THE PROBATE PROCESS DOESN’T HAVE TO BE SCARY.
The probate process sounds intimidating, doesn’t it? It sounds like you’re about to enter a world of paperwork and governmental red tape all while still being in the process of mourning the passing of a loved one. Well, even though it’s a process that may not occur at the best of times, it... Read More
3 Important Estate Planning Considerations for Our Aging Population
Here's a great little article highlighting 3 important estate planning considerations for our ever aging population. Take a read.
Three crucial areas to discuss with your clients
Jul 5, 2016John M. Goralka | Trusts & Estates
In the United States, we’re all living longer—at least, I plan to do so if at all possible. Today, men... Read More
Protecting Digital Assets
PROTECTING DIGITAL ASSETS:
6 Important Steps to Take on Death or Incapacity
It used to be enough for a fiduciary and his attorney to simply search through a decedent’s or incapacitated person’s papers in his or her workplace and at home, watch the mailbox for a 90 day cycle, and review tax returns and account statements. Things are more... Read More
EVERYONE NEEDS BASIC ESTATE PLANNING
If you assume that you don’t have any assets, you could be making the mistake of skipping out on an estate plan entirely. An estate plan is one of the most important collections of documents that you will have and there are many reasons why.
Every person has an estate with very few exceptions. Even a young child who has a custodial account in his... Read More
The Duties and Obligations that await the Executor
So you've been named as an Executor. It's an honor, but it's also a job. I came across this very interesting blog that lays out the duties and responsibilities that await an Executor and the many pitfalls that need to be avoided.
Do You Really Want to be an Executor?By Charles Wagner and Rachael Kwan | Blogs, Estate Law, Executors / Trustees |... Read More
Estate Planning is Important at Any Age
There’s a tendency to think that Estate Planning in Pennsylvania is only for those at or near retirement age. This is based on the premise that estate planning is only for outlining what happens to your belongings after you pass away, but it’s just as important that you plan for your life as it is your death.
A sudden disability, illness, or... Read More
Another Celebrity Estate Planning Failure
Another celebrity faulty estate planning nightmare is in the works. How can someone be worth millions of dollars and not have done a Last Will and Testament at some point. This should be a cautionary tale for all of you out there who keep procrastinating about having a basic estate plan prepared. At our law firm, we have been assisting clients throughout... Read More