Huckabee, Weiler, & Levengood, P.C.

Wyomissing Pennsylvania Legal Blog

What steps do you take to form a general partnership?

One of the first decisions you must make when starting a business in Pennsylvania is what your business structure will be. One of the most common options is a general partnership. This is a business with two or more owners who usually share equally in ownership rights. It is important to understand what you must do legally when forming your business, so you avoid any issues.

According to the Pennsylvania Department of State, the basis for forming this type of business structure is a contract. You do not have to file your contract with the state.  It does not even have to be in writing. However, having a written contract provides more protection than a verbal one because it serves as concrete proof should a disagreement or issue arise in the future. 

Survey: 63 percent of dads spend too little time with their kids

According to the Pew Research Center, dads are spending more time with their kids than they used to. Moms still handle more of the child care, but dads are catching up. Unfortunately, 63 percent of U.S. dads say they spend too little time with their children.

The same isn't true for moms. Only about 35 percent of mothers say they spend too little time with their kids, while 12 percent say they spend too much. The majority, or about 53 percent, said they spent about the right amount of time with their kids, compared to only 36 percent of fathers.

Can I use joint tenancy to pass my inheritance?

A common concern for many parents in Pennsylvania is that their children successfully inherit their assets. To this end, some residents of the Keystone State may decide to set up a joint tenancy account. While it is true that joint tenacy can pass a parent's assets to children, an article from Forbes explains that joint tenacy has some drawbacks that should be considered.

Anything set up in a joint tenancy arrangement is under the ownership of both parties. In the case of a parent and a child, both own the assets in the account. The child will “inherit” the account assets when the parent dies, though in reality the child has possessed ownership from the time the account is set up. The only thing that changes when the parent passes away is that the child is now the sole owner of the assets.

How to avoid common mistakes executors make

Serving as executor of an estate can be a weighty responsibility. Even smart, experienced people can make mistakes. Knowing some of the more common pitfalls in advance can help you avoid them as you navigate the process of administering the estate and dealing with probate.

A Pennsylvania executor's duties typically include filing the necessary paperwork with the court, inventorying the estate's assets, paying taxes, handling creditors and distributing assets according to the provisions in the will. Mistakes can cause conflicts among beneficiaries, may result in assets losing value and can open you up to legal liability.

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