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April 2019 Archives

Why use an irrevocable trust?

Whether you are in the process of organizing your estate and making plans as to what will happen with your property once you pass, or you are dealing with the aftermath of a friend or family member's passing, you may be faced with some difficult issues. One of the most challenging may involve the probate process. Probate procedures are used to help transfer property to the rightful beneficiaries named in the deceased's last will and testament. During the process, the estate is inventoried and calculated, estate expenses are taken from the value of the estate and the remaining property and assets are given to beneficiaries. Yet, the probate process may be skipped altogether if an irrevocable trust is in place.

Difference between Medicare and Medicaid

Many people in Pennsylvania may find it difficult to distinguish between Medicare and Medicaid, given the similarity in their names and the fact that both programs relate to health coverage. Understanding the difference is important when planning for or reviewing one's medical coverage needs.

Factors to consider when selecting an executor

When people in Pennsylvania begin to consider making or updating a will, they may focus initially on how they want their assets distributed after they die. Certainly, this is an important thing to address with a will. However, it is equally important to give clear thought to who shall be named as the executor of a will. The decision to identify someone to essentially manage an estate is not a popularity contest and should be taken seriously.

Nursing home ratings and compare feature help with choices

For those in Pennsylvania who do not need to be in the hospital but require extra care, nursing homes are a valuable resource. According to the Pennsylvania Department of Health, 80,000 residents live in nursing homes, with over 700 to choose from throughout the state. With so many options, the process of choosing the right nursing home for a loved one can seem overwhelming at first.

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