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February 2020 Archives

The potential pitfalls of buying a short sale

A short sale occurs when a bank agrees to allow a home's current owner to sell the home for its current market value. In some cases, the home will be sold for less than what it is worth. Buyers may believe that purchasing a short sale property may allow them to acquire an asset for less than it is worth. However, there are some pitfalls that Pennsylvania residents and others should know about before inquiring about such a home.

Estate planning for different stages of life

Some Pennsylvania residents may be unaware of the different types of issues that estate planning may address. When people think about making an estate plan, they may think only of a simple will, or they may think that it is a matter that they should put off until retirement age. However, there are many options that can benefit people of any age and for different reasons. Any adult can benefit, for example, from creating durable powers of attorney for health care and finances. Few people anticipate an incapacitating accident or injury, but these documents can be of major assistance in case of just such an emergency.

Responsibilities of being a trustee in Pennsylvania

Philadelphia residents who have been named as trustee in a parent's will may wonder what their responsibilities entail. The successor trustee's powers and authority vary slightly from state to state. Though most trustees don't assume their authority until the settlor has passed away, severe disability may necessitate a trustee taking their position while the settlor is still alive.

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