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Central Montgomery County Estate Planning And Divorce Law Blog

The first steps to take when establishing an estate plan

It is not always easy to think about the future and make plans for loved ones. You may not have an estate plan because you believe that you do not need one due to the fact you are young, healthy, not wealthy or for another reason. Perhaps you have told your children what you want to happen to your Pennsylvania estate after you pass, and you believe that is sufficient.

Estate planning is a smart step for everyone, regardless of income level, health status or the size of the estate. In a very basic sense, it is essentially giving you the right to have a say over what will happen to your money and assets after you pass, but there is much more you can accomplish with your estate plan. Life is unpredictable, and there is significant benefit in moving forward with your plan as soon as possible.

After a diagnosis may be too late to prepare for Alzheimer's

Estate planning is not something that most people want to think about since it requires them to consider their deaths. That may be uncomfortable enough, but it also requires contemplation of incapacitation by an illness or injury.

Some illnesses strike without warning, so the sooner you make the appropriate plans, the greater the chances are that everything will go smoothly if it happens. For example, waiting until after a diagnosis of Alzheimer's could prove too late to put the proper protections in place.

Are you expecting to pay alimony?

Divorce is stressful for anyone, but high-income couples have unique struggles. Fighting about money can be a source of discord in a relationship and that doesn't change when the marriage ends.

If you are the higher-earning spouse or the employed individual in a one-income household, you may be required to pay alimony but be unaware about how it works. What will paying alimony look like in Pennsylvania?

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Law Office of Margaret S. Phiambolis
1012 Bethlehem Pike
Suite 103
PO Box 356
Spring House, PA 19477

Phone: 215-664-7764
Phone: 215-628-8227
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