There are various ways to pass on wealth to heirs in Pennsylvania. Some of these may involve the probate court while others may have other legal frameworks. A fully diversified estate usually contains a combination of tools.
Most aging individuals in Berks County and across the country would ideally like to spend their latter years living independently or together with their loved ones.
Setting up a living trust is one way to make sure your children or your other intended heirs receive their inheritance. However, some Pennsylvania residents still opt for a traditional last will and testament. If you find yourself debating this choice, TheStreet explains four key differences between trusts and wills. Seeing how wills and trusts can meet your particular needs can help you make an informed choice.
There are some things in life that you wish you could take with you when you die, and then there are those things you will be happy to leave behind. One of the things you probably will not be sad to say goodbye to is your student loan debt. However, you may worry that your death will transfer that liability to your loved ones in Pennsylvania. This is a valid concern since it seems many of us will have student loan debt following us into our golden years.