Writing a last will and testament is a vital part of estate planning, but even so, it is not capable of handling every issue that may arise after you pass away. For various reasons, the law may not recognize some parts of your will, which is why any Pennsylvania resident should be aware of what they cannot do in their wills and what the alternatives are.
Some Pennsylvania entrepreneurs have special concerns about exposing themselves to liability when starting a new business. If you and a business partner are exploring a way to come together to form a business while limiting your liability exposure, a limited liability partnership is one option to consider. Even so, LLPs are not for every partnership, so some factors should be taken into account while exploring this option.