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December 2018 Archives

Intestate succession explained

A common question posed to us here at Sikov and Love, P.A. is what happens when a Pittsburgh resident dies without a will. When a loved one dies whose estate you may have an interest in, your first thought might be that without a will in place, it is left to you and other heirs to decide how their assets are to be dispersed. Unfortunately, that is not the case. One who dies without a will is viewed as being "intestate," and Pennsylvania has established laws detailing exactly how intestate estates are to be handled. 

Should you use an annuity to pay for long-term care?

As people age, certain tasks become more difficult, and health concerns multiply. Some illnesses may be short-lived, but other conditions may linger or become long-term issues. The Pennsylvania Health Care Association estimates that 70 percent of people turning 65 will need long-term care during their lives.

3 long-term care misconceptions that can cause problems

Long-term care needs are something many people are likely to have at some point in their life. According to some estimates, around 68 percent of individuals age 65 and up will need such care within their lifetime.

What is a power of attorney and do you need one?

Perhaps you have heard of powers of attorney (POA) and are wondering if you should have one. Or, maybe you have an elderly parent who may soon need help making financial or medical decisions. These are all great reasons to learn more about powers of attorney and what they can do. There are several types of powers of attorney in Pennsylvania:

Get financial and personal affairs in order by estate planning

When Pennsylvania residents grow older, estate planning is needed since they face a myriad of legal issues of which they were probably not even aware. They find themselves having to create or update wills, choosing who will be responsible for making financial and medical decisions if they are unable to do so for themselves, and making decisions about long term care and how to pay for it.

The grounds on which Wills can be contested

Why might Pennsylvania residents contest a Will? When a loved one passes away, whether the death was sudden or the result of a long illness, there may be a strain on the family. The review of the decedent's Will may add another layer to the emotional turmoil if family members are surprised by its contents or do not agree with it. Is that surprise or lack of agreement about the terms enough to contest the Will?

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