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Choosing an Executor in Pennsylvania | Executor Compensation and Fees

Consider Compensation When Choosing an Executor in Pennsylvania When choosing an executor for your Pennsylvania estate, keep in mind that the executor is entitled to compensation for the work that they do on behalf of the administration of the estate. Executor Fees in PA Generally Include: 2.5% of the assets of the estate that …

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Is It A “Probate Asset” Or Not?

The Answer May Not Always Be What You Expect Simply “Probate” means at death an estate (the deceased person’s property) is administered and supervised by the court, often called probate court. The court will make sure the Last Will is administered correctly and if there is no will state law is followed by a court …

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Joint Accounts Can Have Unexpected Pitfalls

Joint bank accounts are often established by individuals with the hope of creating an account with one or more of the following benefits: probate avoidance, reduced inheritance taxes or as a convenient way to allow family member to write checks and pay bills. Unfortunately there are numerous Medicaid/Elder Law Planning, estate planning and asset protection …

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Beneficiary Designation Disaster

One of the most frequently neglected parts of the estate planning process is the proper use of beneficiary designations on life insurance, IRA’s, 401k’s, annuities and other similar assets. Failure to properly prepare and update a beneficiary designation can significantly change the disposition of assets someone intends to be carried out by his or her …

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How long does probate take?

The length of the probate process in Pennsylvania (PA) or other states varies greatly from estate to estate. The determining factors include the assets involved in the estate, the experience of the Executor/Administrator and counsel and the ease in dealing with the beneficiaries. Contrary to common belief, the process is rarely impacted by the actual …

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What is probate?

Probate is the court oversight of the estate administration process after a person passes away. Only certain assets are considered probate in nature. Probate assets typically are those owned by the decedent in the decedent’s individual name without a beneficiary designated. The Executor, where there is a will, or Administrator, where there is no will, …

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