Pennsylvania Trust

All posts tagged trust

Is Your Trust Portable? Part 2

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Photo of Peter Johnson.The legal issue of “portability” (changing the corporate trustee of a trust, either by resignation or by removal and replacement) con­tinues to evolve in Pennsylvania. Read more

Contingency Planning: Make Sure Your Family is Prepared

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Leslie BohnerHaving just experienced an earthquake, a hurricane, and record flooding, we are reminded of the necessity of disaster planning. You have most likely seen news stories suggesting exit routes, communication plans, and stocking up on necessities. But it is equally important to think about contingency planning – making sure your family is prepared and taken care of in the event of your death or disability. While this is not an easy topic to think about, it is important to have a plan in place. The following are some simple and immediate steps you can take to ensure the security of your family in the future. Read more

Protect Your Assets With a Financial Power of Attorney

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Do you have a financial power of attorney? Having one would allow you to choose someone you trust to handle your affairs when you can’t. It is a written legal document that gives another person — your “agent” or “attorney in fact” — the ability to make binding legal and financial decisions on your behalf. Without a power of attorney, if you become physically or mentally unable to manage your affairs, your family may have no choice but to ask a court to appoint a guardian to handle those affairs. This can be a time-consuming, unpleasant, and expensive legal process. Regardless of your age or health, it is important to plan now for the unexpected. Read more