Last Writes

When people die, they usually leave assets, debts, or both. Collectively, the assets and debts owned by the individual become owned by the individual's estate. After a person's death, someone needs to wrap up the decedent's affairs, and the legal authority to do that comes through the estate administration process. This blog on the basics of the overall process is the first in a series of four covering estate administration in West Virginia (WV), Kentucky (KY), and Ohio (OH).

Why Understanding Estate Administration is Important

Estate administration is the legal process of ...

For many couples, a marriage license feels optional. You may share a home, combine finances, raise children, and build an entire life together without ever making it official. Under Pennsylvania estate law, though, that piece of paper can change almost everything.

If you die without a valid will, Pennsylvania’s intestacy laws determine who receives your probate estate. The law provides specific rights to a surviving spouse but not to an unmarried partner. Instead, the estate generally passes to the deceased partner’s children, parents, siblings, or other relatives.¹ This ...

Many consider a key component for retirement planning to be including Social Security in your estate plan, but navigating this federal benefit program can be challenging. This blog covers the basics of this federal government retirement benefit in one of a five-piece overview of benefits for seniors. Here, the focus is on Social Security and estate planning, specifically how Social Security benefits fit into your overall retirement plan.

What You Need to Know About Social Security and Estate Planning

The Social Security program began with the passage of the Social Security Act in ...

When a West Virginian dies, the deceased’s property is transferred to their heirs through a legal process referred to as probate. After the debts of the estate are paid, the property is devised to heirs in one of two ways: if the person had a will, this means the person died testate, and the property is transferred according to the will; or if the person died without a will, the decedent is said to have died intestate. West Virginia intestate laws then control the allocation of the decedent’s property.

West Virginia Intestate Laws Control Who Inherits and How Much They Inherit

In West ...

Much to the dismay of prospective parents, babies do not come with a handbook or road map to instruct parents on the journey of this new life. Prospective parents spend hours in classes regarding the birthing process and caring for a newborn. Growth and milestones of a child are measured and tracked. Prospective parents typically do all that is possible to prepare themselves for the new responsibility of caring for and protecting this new life.

Most parents, new and seasoned, continue their involvement in the child’s life by making sure the child is active, nourished, emotionally ...

Physicians dedicate their lives to acquiring the knowledge and skills to help others and to building a practice and reputation. These efforts often offer substantial personal and financial rewards. However, those who work in the medical field also endure a high risk of personal liability. Asset protection for physicians is an important part of financial and estate planning.

Asset Protection for Physicians Requires Advance Planning

Domestic asset protection (DAP) trusts can be a useful tool in physician asset protection, but these financial vehicles require advance ...