Planning to Sell Your Deceased Parent's Home: Here's What The Law Suggests

Selling a parent’s home after they pass on can be an overwhelming and emotional process. It can be especially challenging if there is a family conflict or you are unfamiliar with the legal issues that can arise when settling an estate. Estate planning law firms often work collaboratively with real estate attorneys to develop creative, practical solutions that can help you understand the law and resolve issues to get your parent’s property sold.

Does a Home Have to Go Through Probate?

In most cases, yes. Unless your parent put their home in a living trust, the home is part of the estate and must go through the probate process before it can be transferred or sold to anyone.  Although selling a house while in probate is possible, the process is complicated. The probate court will monitor the process to ensure it is transparent and you are authorized to sell the home. If you are the executor or administrator of the estate, you are required to monitor and approve the sale of the home as well. Your probate attorney can advise you of all your rights and responsibilities as the executor of an estate.

Confirm Ownership

Before you do anything else, find out if your parent is the sole owner of the property. If the home is jointly owned with a spouse or anyone else “with the right of survivorship,” they automatically become the sole owner of the home. These situations can be particularly tricky when an ex-spouse is still on the deed of a home. Experienced divorce attorneys usually advise clients to separate all property and update their estate plan after a major life change, but sometimes these things can fall through the cracks and cause serious problems when someone passes away unexpectedly.

Keep it Current

The transfer of property can take time, so it is important to continue to pay the mortgage, property taxes, and insurance while sorting out the estate. It’s also a good idea to keep utilities such as gas, electric and water on and to check on the property periodically to make sure it is in good shape. Whether you plan on selling the home or not, you will most likely need to get it appraised, so you want to ensure it is properly maintained.

Get an Appraisal

An appraisal is a professional valuation of what a home is worth. It is often required when an estate goes through probate and is used for tax purposes and to ensure all beneficiaries know the value of the property.  An appraisal is usually required in any real estate transaction, so it is a must if you plan on selling the home. Once all of these matters are settled, a real estate attorney can assist you with the process of transferring the property and putting it up for sale.

Do you need assistance with settling an estate or selling a parent’s home? Our full-service law firm in West Chester can help you understand the process and walk you through it every step of the way.

This blog was originally posted at https://carosella.com/planning-to-sell-your-deceased-parents-home-heres-what-the-law-suggests/

Do You Have Minor Heirs in Your Estate? Here's What You Need to Do

In the age of COVID-19, ensuring that your children are protected in the event of your passing is more important than ever. Although many people believe that naming a guardian in their will is sufficient, there are other estate planning tools that can help to ensure your minor children’s inheritance is properly managed. An experienced trusts attorney can help you understand your options and assist you with creating an estate plan that clearly outlines your wishes and protects your children’s interests.

Leaving Assets to Minor Heirs

Parents who are married typically leave all their assets to their spouse, but what happens if you are a single parent or you and your spouse pass away at the same time? When creating a will and estate plan, it is critical to consider different scenarios that may affect your minor children. Although minors can be beneficiaries, legally they cannot own property until they turn 18. In addition to naming a guardian for them, you need to ensure that any assets you want them to receive are properly managed until they are adults. There are several ways to do this. Your estate planning lawyer can assess your specific situation and recommend the options that provide the most benefit.

Why You Should Provide for Asset Management for Minor Heirs

If you do not name someone to manage assets for your minor children, the probate court will appoint a guardian of the estate to oversee them until minor heirs come of age. This means that if you die you have no control over who will manage your children’s assets. The person who is appointed by the court may not be a good fit or could mismanage assets. An attorney can explain the probate process to you so you have a better understanding of what is involved and why naming someone to manage your children’s assets ahead of time is advisable.

Asset Management Options for Minors

There are several ways to arrange for someone to manage your minor child’s inheritance. Some of the most common include:

Naming a property guardian in your will. If you appoint someone to be a property guardian in your will, when your will is validated in probate the court will appoint that person as your child’s estate guardian.

Naming a custodian under the Pennsylvania Uniform Transfers to Minors Act. The PAUTMA enables you to select a custodian to manage assets you leave to your children up to the age of 21. You may do this in your will, living trust, or when naming a beneficiary on a life insurance policy. It is vital to make sure this done correctly, so it is best to have an attorney assist you.

Setting up trusts. Creating a family trust for all your children or individual trusts for each child can help to ensure your wishes are carried out according to your specific instructions. Any trustee you name is required to act in your children’s best interests, whether it involves their education, health, living expenses or any other issues. It is important to keep in mind that a trustee has more responsibilities than a custodian, such as filing annual tax returns for the trust.

Do you need assistance with estate planning? The team at Carosella & Associates can help you create a plan that protects your children’s financial future.

This blog was originally posted at https://carosella.com/do-you-have-minor-heirs-in-your-estate-heres-what-you-need-to-do/

Here's How Bankruptcy Can Affect Child Support

Issues surrounding child support and divorce can be contentious, but when bankruptcy is involved things can become even more complicated. Regardless of the circumstances, it is always a good idea to consult a seasoned attorney to figure out your options if you are facing issues surrounding bankruptcy and child support. The best bankruptcy lawyers will take the time to answer your questions and help you understand your rights and responsibilities.

Bankruptcy and Child Support

Debts are divided into two general categories when you file for bankruptcy. Dischargeable debt can be eliminated, while non-dischargeable debt cannot. Some examples of dischargeable debt include medical bills, credit card debt, car loans and mortgage payments. Child support and alimony arrears are considered non-dischargeable debt in both Chapter 7 and Chapter 13 bankruptcy. Child support is also considered a “priority debt,” which means that repayment often takes precedence over other non-dischargeable debt like income tax debt.

Chapter 7 vs. Chapter 13: How Each Type of Bankruptcy May Affect Child Support Payments

When you file for bankruptcy, an automatic stay is usually placed on any collection actions against you. However, if you file for Chapter 7, your post-filing income is not considered part of the bankruptcy estate. This means that a stay will not halt collection of child support payments. If you fall behind on your support obligations, a creditor (whether it is your child’s guardian or the state) can sue you to collect them.

Filing for Chapter 13 also triggers an automatic stay, but your post-filing earnings are considered part of the bankruptcy estate. This means that before someone can sue you for child support, they would have to file a motion to lift the stay. However, once it is lifted you can be sued. To ensure you keep the benefit of the stay, making timely, full payments according to your repayment plan is critical.

Regardless of whether you are the person who receives or pays child support, a good family law attorney should know how bankruptcy may affect payments and can advise you on the most effective course of action to reach a fair resolution.

Do Bankruptcy and Child Support Affect Custody?

Although filing bankruptcy or getting behind on child support payments does not affect your right to see your children, finances can play a part in the amount of time each parent spends with their children. When making decisions about custody arrangements, the court’s main concern is always the best interest of the child. If your financial situation renders you unable to provide for your children’s basic needs such as food, clothing and housing, a family court judge may give primary custody to the parent or guardian who can adequately provide these things.

If you have an existing custody agreement, simply filing for bankruptcy cannot alter this arrangement. If you or your child’s other parent wishes to modify a custody or child support agreement, you must file a petition with the court that made the initial determination.

Find a Law Firm that Can Handle all Aspects of Your Case

To ensure your rights are protected, it is important to find a full-service law firm in West Chester that handles bankruptcy cases and issues surrounding child support, alimony, custody and other family law matters. If you are filing for business bankruptcy, having an experienced business lawyer on your team is also a must.

This blog was originally posted at https://carosella.com/heres-how-bankruptcy-can-affect-child-support/

Understanding Testamentary Capacity in Drafting a Will

 

For a will to be considered valid in Pennsylvania, the person who creates it (testator) must be of sound mind and judgment. A common reason for contesting a will is lack of testamentary capacity. Someone who is contesting a will for this reason must prove that the testator (person who created or changed a will) lacked the mental competence to do so.  Probate litigation attorneys often handle cases involving testamentary capacity. Regardless of whether you are creating your own will or you are thinking of contesting a loved one’s will, a lawyer can help you understand the concept and how it may apply in your specific circumstances.

What is Considered “Sound Mind” in Pennsylvania?

Just because someone is elderly, eccentric, physically weak, suffering from an illness or has a poor memory, it does not mean that they lack testamentary capacity. Some common conditions that may result in testamentary incapacity include:

• Dementia
• Delusions
• Alzheimer’s disease
• Other mental disorders that affect a person’s ability to understand their actions

One Pennsylvania court summarized having testamentary capacity as: “At the time of execution of the will the testator had an intelligent knowledge regarding the natural objects of his bounty, of the property he possesses and of what he desires to do with his estate.”

To put it simply, a person is considered mentally competent to draft and execute a will if:

• The testator understands that the document they are drafting and signing is a will
• The testator understand the nature and situation of the property referred to in the will
• The testator remembers and understands the beneficiaries named in the will

When a testator intends to give all of their property to one person, their knowledge of property has little bearing. Testamentary capacity in creating a will does not rise to the same level required to sign a contract or conduct business. An estate planning attorney would not encourage someone who obviously lacks testamentary capacity to create a will.

Challenging a Will Due to Lack of Testamentary Capacity

If you believe a loved one was mentally incompetent when they drafted their will, you can contest the will in the Orphans Court. You must present evidence showing that their lack of testamentary capacity affected the creation of the will and/or distribution of assets. Some common evidence used in these types of cases includes medical records, witness testimony and testimony from health care providers. If you successfully prove testamentary incapacity, the court will likely invalidate the will and the estate may be distributed according to the laws of intestate succession. These types of cases are complex, so it is critical to seek the counsel of experienced lawyers who handle wills who can evaluate your case and advise on the best course of action.

If you need help with estate planning or are considering contesting a loved one’s will, finding a good probate lawyer in Chester County, PA, can help to ensure your rights and interests are protected.

This blog was originally posted at  https://carosella.com/understanding-testamentary-capacity-in-drafting-a-will/

Estate Planning Terminology You Should Know

Estate planning includes a lot of terminology you may not know if you are unfamiliar with this area of the law. Although estate lawyers can guide you through the process of drafting a will and other important documents, knowing the definitions of these terms can help you explain things to your family members and allow you get a better understanding of the purpose of certain estate planning tools.

Administrator—When someone dies without a will in Pennsylvania, the Probate court appoints someone as an administrator to oversee the distribution and settlement of the estate.

Advance Medical Directive—A document that names an agent responsible for making medical and end-of-life decisions for another person.

Agent—Sometimes called an attorney-in-fact, an agent is a person you designate to represent you in a Power of Attorney. Typically, your agent handles your finances, health care decisions and other manners in the event that you become incapacitated or unable to manage your affairs.

Beneficiary—A person who is named to receive proceeds from a life insurance policy, retirement account, trust or will.

Conservator—When an individual becomes incapacitated or unable to handle their affairs, a court may appoint a conservator, which is similar to the role of a guardian.

Decedent—In the legal world, this term is used to refer to a deceased person.

Estate/Inheritance Taxes—State and federal taxes that are paid on a decedent’s estate.

Executor—Someone who is named to carry out the instructions outlined in a will.

Fiduciary—An institution or individual who has a legal or ethical obligation to act in the best interest of another. In estate planning, a fiduciary may be the executor of a will, personal representative appointed by the court, a trustee or an agent named in a power of attorney. In some cases, probate and estate lawyers act as fiduciaries for their clients.

Grantor—An individual or entity that creates a trust. They may also be called a trustor or settlor.

Guardian—A person who is designated to handle decisions on behalf of a minor child or someone who is incapacitated.

Joint Tenancy—Property owned by two or more people.

Irrevocable Trust—A trust that cannot be altered or changed once it is established by a trustor.

Last Will and Testament—A legal document that lays out a person’s wishes for how their assets are to be distributed to their beneficiaries.

Living Trust—A revocable trust that includes assets placed in the trust during the grantor’s lifetime.

Power of Attorney—A document that allows someone to name an agent who will act on their behalf should they become incapacitated. A Durable Power of Attorney for Health Care enables an agent to make medical decisions. A Durable Power of Attorney for Finances allows an agent to manage an incapacitated person’s financial affairs.

Probate—The legal process for validating a decedent’s will, distributing their estate to beneficiaries and heirs and settling their debts.

Revocable trust—a trust in which a living grantor can add or remove assets, change instructions , or terminate the trust. Wills and trusts attorneys can help you understand the different types of trusts and the benefits they may provide for you and your family.

Testator—A person who creates a will.

Trustee—An institution or person who manages and distributes assets in a trust.

If you need help creating an estate plan, the experienced team at Carosella & Associates can help.

This blog was originally posted https://carosella.com/estate-planning-terminology-you-should-know/

Revocable Trust vs Irrevocable Trust- What's the Difference?

A trust is an arrangement that enables one party (a trustor) to allow another party (a trustee) to hold assets for the benefit of a third party, the beneficiary. Lawyers who deal with wills and trusts often advise clients to use trusts as a way to allow assets to avoid probate, lessen tax burdens for beneficiaries or take care of loved ones with special needs. Different types of trusts are used for different purposes—it is important to understand each type and their benefits and drawbacks.

Revocable Trusts

A revocable trust allows the trustor to take assets in and out of the trust, change its terms and beneficiaries or terminate it at any time. When a trustor dies, the property in the trust is distributed to beneficiaries according to the terms of the trust agreement. The major advantage of a revocable trust is that the trustor has the flexibility to modify or terminate the trust while they are alive. A revocable trust can also ensure that your assets remain available to be used for your benefit should you become incapacitated or unable to manage your affairs.

Typically, the assets in a revocable trust do not have to pass through probate, but are subject to creditors and estate and inheritance taxes. Probate is the legal process required to validate a will and distribute an estate. It can be a costly and time-consuming process. Having the majority of your assets in a revocable trust can help your loved ones save the cost and hassle of dealing with probate. Having an attorney explain the probate process and going over the pros and cons of irrevocable trusts can help you make informed decisions that can benefit you and your loved ones.

Irrevocable Trusts

Except in very rare circumstances, the terms of an irrevocable trust cannot be changed once it is set up. The trustor is no longer the owner of the assets placed in the trust–they cannot take them out, modify the terms of the trust, or terminate it. Property, securities and other assets placed into the trust during the trustor’s lifetime must be registered in the name of the trust. Although irrevocable trusts do not provide as much flexibility as revocable trusts do, they sometimes offer more tax savings. Because the trustor no longer has ownership of the property in the trust, these assets, in many cases, are not subject to income taxes or estate/inheritance taxes.

With this type of trust, assets are more protected from creditors and taxes unless fraud is involved. For estate planning purposes, an irrevocable trust may be set up to hold monies for funeral costs or special types of life insurance payouts as well.

Which Type of Trust is Right for You?

There is no one-size-fits-all solution in estate planning. Revocable and irrevocable trusts can be powerful tools that can protect your interests when used correctly. An estate planning attorney can assess your circumstances, talk with you about your wishes and goals and devise a plan that works for you and your family.

This blog was originally posted at https://carosella.com/revocable-trust-vs-irrevocable-trust-whats-the-difference/

A Living Trust Can Protect You When You Are At Your Most Vulnerable

Although it may be unpleasant to think about becoming disabled or incapacitated, without a plan to protect yourself you could become a victim of financial abuse. A revocable living trust is a valuable tool that can safeguard your assets and interests. A power of attorney for finances is also an important estate planning document that can help to ensure a trustworthy person manages your money should you become incapacitated. Regardless of your age, creating a plan with an experienced lawyer who provides estate planning services can give you peace of mind.

Benefits of a Revocable Living Trust

When you create a revocable living trust, you (the grantor) can transfer ownership of almost anything to the trust itself. As the grantor of the trust, you have control over the assets in the trust and may remove or add assets to the trust at any time. You must also name a successor trustee, who will automatically take control of the assets in the trust in the event of your incapacity.

In addition, you may offer specific instructions about the circumstances in which a successor trustee should take over. You can specify how the trust assets should be invested, the type of care you wish to receive, and which expenses you want the trustee to pay. When a living trust is created properly, there should be no need for court involvement to manage your assets.

Choosing A Successor Trustee

It is vital to choose wisely when naming a successor trustee. The person should be someone you know has your best interests in mind. It may be tempting to select someone just because they are your child or relative, but if they are not reliable or trustworthy, you could risk losing your financial security when you are at your most vulnerable. A good trusts lawyer will discuss your circumstances and options with you and give you a candid, objective perspective on who may be the best person to manage your finances. If you do not have a family member or close friend to serve as your successor trustee, you can name a fiduciary such as a financial institution, accountant, or attorney to manage the trust. Because it is a revocable trust, you can replace the successor trustee with someone else at your discretion.

Living Trust vs. Power of Attorney for Finances

Although a durable power of attorney for finances also allows you to appoint someone to take over your financial affairs if you become incapacitated, it does not shield your assets. A revocable living trust enables the assets in the trust to avoid going through probate upon your death and protects your privacy, as it is not part of the probate process or public record. A successor trustee can still manage the assets in the trust after your death, but a power of attorney is no longer in effect if you pass away.  A probate or estate lawyer can help you understand the benefits and purposes of each document and advise you on what may best meet your needs.

Do you need assistance with estate or incapacity planning? The experienced team at Carosella & Associates can help you create a plan that protects you and your family.

This blog was originally posted https://carosella.com/a-living-trust-can-protect-you-when-you-are-at-your-most-vulnerable/

What Happens If You Die Without a Will?

A well-drafted will is a vital part of any estate plan. However, millions of Americans die without a will each year. Failing to have a will in place at the time of your passing can make things challenging for your loved ones and may result in your estate being distributed in manner that is not aligned with your wishes. Discussing your estate planning goals with a wills and trusts lawyer and creating a will can give you peace of mind and ensure that your legacy lives on as intended.

What Is Intestate Succession?

It is a common misconception that all property goes to the Commonwealth of Pennsylvania when someone dies without a will. In actuality, this is a rare occurrence. In Pennsylvania, when someone dies without a will their assets are distributed according to the laws of intestate succession. This means that the probate court will distribute your estate to your closest relatives in a particular order of succession. Typically, the order is as follows:

• Surviving spouse of the decedent
• Children or grandchildren of the decedent
• Parents of the decedent
• Siblings or nieces and nephews of the decedent
• Grandparents of the decedent
• Decedent’s aunts, uncles, and their children and grandchildren
• Commonwealth of Pennsylvania

Each case is unique. There are specifics that are taken into consideration when distributing an estate, such as whether or not a decedent’s children are also the children of the surviving spouse. An estate lawyer can help you understand the laws of intestate succession so you have an idea of what could potentially happen if a close family member has died without a will.

Probate

Most estates in Pennsylvania must pass through probate, even if there is a valid will. Some assets that typically do not have to be probated include proceeds from life insurance, retirement accounts, joint bank accounts, and living trusts. Joint tenancy property is also exempt from probate in most cases. If your estate has to be probated without a will, your loved ones will most likely have to hire a lawyer to explain the probate process and guide them through it. If there is a family conflict or other issues surrounding the estate, probate can be a long, costly process. In addition, if you are the only surviving parent of minor children, the court will appoint guardians for them, which can leave your children in the charge of people who may not have their best interests in mind.

Benefits of Having a Will

The best way to plan for your future and properly provide for your loved ones is to create a comprehensive estate plan. This is particularly important if you own a business. Using a full-service law firm with business attorneys and estate planning lawyers who work collaboratively can help to ensure all your legal bases are covered and your beneficiaries’ inheritance is maximized. Even if you have a very simple estate with few assets, having a lawyer help you draft a will is an affordable, easy way to make your wishes known and take some of the burden off your loved one’s shoulders.

This blog was originally posted https://carosella.com/what-happens-if-you-die-without-a-will/

Contesting A Will Due To Undue Influence

Those with nefarious intentions often manipulate the elderly and other vulnerable people in our society. If someone convinces a loved one to change their will, power of attorney, or other vital documents you may not find out until after their death. Although this situation can be frustrating and upsetting, you can take action to prove undue influence and contest the will. If you need to contest a loved one’s will, it is vital to seek the counsel of an experienced wills and trusts attorney who understands the elements involved in proving undue influence.

What Is Undue Influence?

When someone in a confidential relationship with a testator (signer of a will) who has a weakened intellect convinces them to change their will, it can be considered an undue influence in Pennsylvania. This kind of manipulation often happens when a person suffers from dementia, Alzheimer’s, or another condition that affects their ability to make decisions.

Contesting a Will in Pennsylvania

Will contests are heard in the probate court (orphan’s court in PA). If a will has not been filed with the probate court, filing a caveat with the Register of Wills in the county where the testator lived at the time of their death puts a hold on the probate process until the challenges to the will are addressed. If a will has already been filed, you must file an appeal with the Register of Wills. Once an estate is open, it is important to act fast if you are going to contest a will.

Proving Undue Influence

To establish grounds to contest a will for undue influence in Pennsylvania, three elements must be established:

Confidential relationship – This means that the person who exerted influence over the testator was in a position of trust that inspired good faith. The person in the confidential relationship may be a relative, caregiver, doctor, accountant, attorney, or someone else who has access to the testator.

Substantial benefit – You must show that the person who influenced the testator would receive a large or considerable benefit from the changes to the will.

Weakened intellect –There are quite a few ways to describe a weakened intellect. In Pennsylvania, it has been successfully argued that a weakened intellect is one that is inferior to normal minds in reasoning power, factual knowledge, freedom of thought and decision, and other characteristics of a fully competent mentality.

To prove undue influence you must provide evidence. A seasoned probate attorney will know what type of evidence to collect and how to present it to show that undue influence occurred. This evidence may include medical records, statements from a decedent’s attorney, medical provider, family and friends, and the expert testimony of medical professionals, forensic accountants, and others. A judge will consider all the arguments and evidence and determine whether undue influence occurred. If fraud, physical or mental coercion, or other wrongful acts are proven, the court may void the will and enforce a previous will or distribute the estate according to the laws of intestate succession.

Involving your loved ones in estate planning can help protect your interests and avoid problems with your will after your passing. If you need assistance with contesting a will, our experienced team at Carosella & Associates can help.

This blog was originally posted https://carosella.com/contesting-a-will-due-to-undue-influence/

Steps for an Executor to Take When Settling an Estate

Being the executor or personal representative of an estate can be daunting. Although it is good to have a probate attorney assist you with the process, it is important to have a general idea of what the process of settling an estate entails. Taking it step-by-step can help you get organized and prepare you for the tasks that lie ahead.

Secure Property and Gather Documentation

The first thing you should do as the executor of an estate is to make sure all property and assets are secure. Promptly collecting documentation can help to ensure that you have what you need to open the estate. The executor of an estate should gather:

• Will
• Receipts or bills for funeral expenses
• Bills for medical expenses
• Tax returns
• Bank account statements
• Investment account statements and documentation
• Life insurance policies and beneficiary information
• Outstanding bills, credit card statements, and invoices
• Death certificates – You will need multiple certified copies of the death certificate to provide proof of death and to have certain assets released.
• Deeds –If your loved one owned multiple investment properties, you may want to contact their real estate lawyer if you need any additional information or documentation
• Appraisals of real estate, jewelry, artwork, or other valuable items

It is also vital to find the names and contact information for everyone who is named as a beneficiary in a will.

Determine Which Assets Can Skip Probate

Assets in a living trust, proceeds from life insurance policies, property owned in joint tenancy, and retirement accounts with named beneficiaries usually do not have to pass through probate. An estate law attorney can go over all assets with you and determine which are exempt from probate. A lawyer can also advise you on what to do if there are any problems with beneficiary designations.

File the Will and Open Probate

You must file the will with the Register of Wills in the country where your loved one lived at the time of their death.  You will also need an original of the death certificate. You must fill out an Estate Information Sheet, Petition for Probate and other required forms. Letters Testamentary will be granted, which give the executor authority to act on behalf of the estate. In Pennsylvania, probate is conducted in the Orphans Court.

Settling the Estate

Once the estate is opened, you must:

• Collect and inventory all assets
• Put estate notices in local newspapers
• Notify beneficiaries and any other relevant parties and file certification of these notices with the court
• Have certain assets appraised, if necessary
• Sell estate assets if applicable
• Pay creditors
• File a Pennsylvania inheritance tax return – if inheritance taxes are paid within 3 months of opening the estate, you receive a discount of 5%. The final inheritance tax return must be filed within nine months from the date of death.
• Distribute assets to beneficiaries
• Prepare a final accounting of the estate administration
• Discharge the estate

This is by no means a comprehensive guide to the responsibilities and tasks you perform as an executor. Our wills and trusts attorneys can guide you through the process and help solve any legal issues that may arise.

This blog was originally posted https://carosella.com/steps-for-an-executor-to-take-when-settling-an-estate/

Understanding the Responsibilities of an Executor of a Will

An executor of a will has many responsibilities. Identifying and securing the assets owned by the estate, probating the will, paying creditors, and distributing assets to beneficiaries are just some of the tasks that are necessary. As an executor or personal representative, you are also required to put the interests of the estates’ beneficiaries first, which means that you should notify them promptly.

Probate

Many wills in Pennsylvania must go through probate. This process includes validation of the will, distribution of assets to beneficiaries, payment of debts, filing tax returns, and settling the estate. If someone dies without a will, the court appoints a personal representative to handle these tasks. Assets such as life insurance, jointly held property, and retirement accounts that have designated beneficiaries do not have to go through probate.

As an executor or personal representative, you must send a written notice to beneficiaries within three months of filing the will in probate court (Orphans Court in PA). An executor must also publish a notice of probate in local newspapers according to court rules and notify creditors. Probate can take as little as a few months or much longer if issues arise. After all debts are paid, tax returns are filed, and a final accounting of the estate is completed, assets can be distributed. An attorney can explain the probate process and handle all of the legal aspects of settling the estate.

Protecting the Estate’s Assets

In addition to putting beneficiaries’ interests first, you also have an obligation to safeguard the estate’s assets, keep proper financial records, treat all beneficiaries fairly, and keep the estate’s assets separate from your own. Notifying beneficiaries as soon as possible can help you build trust. Being proactive, impartial and taking the role of executor seriously demonstrates that you are committed to settling the estate in an ethical manner.

When a Will is Contested

A probated will is a matter of public record. Even when someone has a valid will at the time of their death, named beneficiaries, spouses, and children of the decedent can contest it. If you are facing this type of challenge as the executor or personal representative of an estate, it is vital to hire an experienced lawyer who is well-versed in family wills and trusts. Attempting to handle these issues on your own is stressful and may result in unnecessary, costly litigation that drags on for years.

Dealing with Other Conflicts

It is vital to be aware of possible conflicts of interest, whether they are real or perceived. If a beneficiary has concerns about this, an estate planning attorney can assess the circumstances and advise you on the best way to move forward. If someone alleges that you have unfairly or unethically benefitted from your role as executor, seek the counsel of your own attorney to protect your rights.

Whether you are interested in drafting a will or need assistance as the executor of an estate, our West Chester estate lawyers can help with any legal issues that may come your way.

This blog was originally posted https://carosella.com/understanding-the-responsibilities-of-an-executor-of-a-will/

Legal Considerations for Businesses During the Time of the Pandemic

Many businesses have faced hardship during the COVID-19 pandemic. As more and more restrictions are lifted, business owners may be unsure of how to stay afloat and protect themselves, their employees, and customers. Being proactive and seeking the counsel of a local business attorney can help you avoid serious problems down the road.

Adhere to State and Local Orders

Everyone needs to make a living, and COVID-19 has placed a serious financial burden on millions of small businesses. Regardless of whether you agree with regulations that have been put in place, it is vital to follow local and state rules for safely operating your business. Frustration about being unable to do business at all is understandable, but carrying business practices in defiance of these orders can put your business at risk and lead to even more difficulties.

Follow Social Distancing and Hygiene Practices

Wearing a mask, keeping a distance of six feet from others, and your washing hands frequently may not just slow the spread of COVID-19, but following proper safety protocols and keeping your facility clean and sanitized can also protect you from liability. As an employer, you have an obligation to provide a safe and healthy environment for your employees. This also applies to customers and others who enter your premises. Failure to maintain a safe environment not only puts others at risk, it can jeopardize your business and stain your reputation in the community.

Create a Plan and Enforce New Policies

Part of implementing coronavirus-related changes is creating a plan of action to help things run more smoothly, especially with the ever-changing rules and regulations that may be required. It is important to clearly inform your employees of new policies and procedures. In addition to holding meetings with your employees about these changes, it is critical to document them on paper. It is also a good time to review existing procedures and revise them as necessary. If you own a small business in Eastern Pennsylvania, consult with a business lawyer in West Chester to find out how the Families First Coronavirus Response (CARES) Act, FMLA, ADA, and OSHA regulations may apply in your specific industry.

Revisit Your Business Plan

Reviewing your overall business plan and other contracts is also essential during these uncertain times. COVID-19 has had a serious impact on the bottom line, so it is crucial to come up with innovative ideas and ways to mitigate profit loss and cut expenses. Proper business succession planning is also more important than ever. If you already have a plan in place, reviewing it with your lawyer and making any necessary changes can ensure that things keep running with minimal interruption should you or a partner become severely ill or pass away. If you do not have a business succession plan, now is the time to create one.

Review Commercial Insurance Coverage

In some cases, business interruption insurance may cover COVID-19 related losses, but making a successful claim may be an uphill battle. Reviewing your liability insurance policy is also critical, as it may provide coverage for claims that arise from COVID-19-related litigation. Insurance and contract lawyers are well-versed in the language that is often used in these types of policies, and can determine the scope of your coverage and any exclusions that may apply.

If you need assistance with business-related matters during the COVID-19 pandemic, our experienced team at Carosella & Associates can help.

This blog was originally posted https://carosella.com/legal-considerations-for-businesses-during-the-time-of-the-pandemic/