| Estate planning and administration are subjects | | | | Commonwealth of Pennsylvania these documents |
| that can surface painful realties. Few people want | | | | are obtained through the Register of Wills in the |
| to consider how to handle issues that will arise | | | | county where the deceased person lived when |
| when they or a loved one dies. Careful | | | | they died. |
| preparation, sound advice and a commitment to | | | | Once they obtain legal right to administer the |
| work through issues beforehand can save you | | | | estate the representative must resolve several |
| significant stress, family turmoil and pain later on. | | | | issues including: |
| Following are some general information that | | | | • Locating the will and having it established as |
| individuals and families – particularly those in | | | | valid (also known as Probating) |
| Philadelphia – should know about estate | | | | • Notifying heirs |
| planning and administration. | | | | • Protecting assets (whether they be cash, |
| Estate planning is not only for the wealthy. Many | | | | property, etc) |
| people wrongly assume that only those who are | | | | • Paying any debts, taxes, etc owed by the |
| very wealthy need estate planning. This is not | | | | estate |
| true. Without a will and other necessary elements | | | | • Assuring that all state and federal laws are |
| of estate planning the government often makes | | | | complied with |
| key decisions about your assets like homes, bank | | | | After all of these steps are followed, then a |
| accounts, vehicles as well as who cares for your | | | | personal representative may distribute the assets |
| minor children and how you are treated when you | | | | to heirs. |
| are unable to decide for yourself. | | | | Do you need a lawyer? As you can see, the |
| After an individual dies there are formal | | | | process is complex. Not only are there federal |
| procedures to settle, or administer, the estate. If | | | | and state laws to consider, but personal |
| the individual resided in Philadelphia, the estate will | | | | administrators often struggle with grief felt both |
| be subject to requirements from both federal and | | | | personally and by other family members. In some |
| state law. Personal representatives are charged | | | | unfortunate situations, heirs may dispute |
| with administering an estate, and he or she will | | | | distribution of assets. For all these reasons, it is |
| work with attorneys to make sure all legal | | | | usually wise to consult an attorney for these |
| requirements are met. If estate planning included a | | | | matters. |
| will, that document will identify the personal | | | | Working with an attorney experienced in |
| representative – or executor. | | | | Philadelphia estate planning can help you draft a |
| If the deceased has no will, an administrator will | | | | will, a power of attorney, trusts and other |
| be appointed according to the guidelines set by | | | | documents that will protect your assets and |
| state law. Typically, the estate will be administered | | | | make your wishes clear to those who survive |
| by a spouse or a child over 18 years of age. | | | | you Likewise, using an attorney for estate |
| How is an estate administered? Before doing | | | | administration can assure that all legal |
| anything, personal representatives or | | | | requirements are met and that issues are |
| administrators need documentation to allow them | | | | resolved fairly and effectively. |
| to act on behalf of the deceased. In the | | | | |