Blog

You regularly check the balances of your retirement, bank, and investment accounts. But when was the last time you checked the beneficiary designations on these accounts (and really, all the other accounts that allow you to name a beneficiary)? Beneficiary designations are a crucial part of an estate plan and a way to avoid probate. But they supersede instructions in a will or trust and should be regularly reviewed to ensure that they align with your legacy goals.

A special needs trust (SNT) allows an individual to provide for a disabled beneficiary without jeopardizing the beneficiary’s eligibility for needs-based government benefits. SNT funds can generally be used to pay for almost anything that falls outside the basic support that programs such as Supplemental Security Income (SSI) and Medicaid provide. This includes many goods, services, and experiences that these programs do not cover. Rules around SNTs are complicated, and a trustee’s unauthorized use of SNT funds may result in a penalty or reduction of government benefits for the trust beneficiary.

The Federal Health Insurance Portability and Accountability Act of 1996 (HIPAA) was enacted to provide guidelines to the healthcare industry for protecting patient information and preserving privacy. This is usually a nonissue for minors because parents, as legal guardians, generally have access to their children’s medical information, make most of their medical decisions, and pay the expenses. However, once an individual turns 18, they are no longer a minor but a legal adult.

Your wedding day was absolutely perfect. You and your spouse went on your honeymoon and had the time of your lives. Now you are back and can breathe a sigh of relief as the years ahead unfold before your eyes. Well, not so fast. With your honeymoon over, there are several things you should be mindful of to ensure that the legal and financial parts of your life properly reflect your newly married status.

You intend to pass along your hard-earned money and property through your estate plan, but what about your wisdom? Ensuring that you successfully pass all of this along may call for a family meeting to discuss your finances, your legacy, and your core principles. Most families lead busy lives, with many relatives seeing one another face-to-face only at a handful of major holidays throughout the year. The estate planning process is a perfect opportunity to bring everyone together outside of those scheduled occasions.

When beginning any type of planning, you usually start with some preliminary questions. Estate planning is no different. As you dive deeper into the process, you will need to think about how you envision things unfolding after you have passed away. Aside from your money and property, are there other things you want to leave your loved ones? Any inspiring words or values that you hope they heed? The following questions can help you think about what matters most to you and what you want your loved ones to receive through your estate plan in addition to money and property.

If you are reading this, you need an estate plan. Why? The short answer is that everyone age 18 and older needs an estate plan. It does not matter whether you are old or young, have built up considerable wealth or are just entering adulthood—you need a written plan to control what happens to the things you own and to protect yourself and those you love. 

Fewer people are creating estate plans today than in years past. Research shows that, in 2024, less than one-third of Americans report having a will. Every adult—whether they are 19 or 99—should have a will at a minimum. Many people can also benefit from estate planning documents such as trusts, powers of attorney, and advance directives. But even if you have created a comprehensive estate plan, it may no longer align with your objectives if it is not up to date.

While the story of Snow White is just a fairy tale, important lessons can be learned. We all want our loved ones to have happy endings. Had the king engaged with an estate planning attorney to put his affairs in order, the outcome of this story might have been drastically different. At the law firm of L. Theodore Hoppe, Jr., Esquire - Attorney at Law, we can help you take steps to avoid the bad outcomes that are part of the typical fairy tales.

As a millennial, you are contributing to the workforce in a major way and are making positive changes in the world around you. At L. Theodore Hoppe, Jr., Esquire - Attorney at Law, we understand that your concerns may differ from someone of a different generation, and we are here to help you craft an estate plan that protects your future and addresses the things that matter most to you. The following are some important steps you need to take to ensure that you have a comprehensive estate plan.

Today more young adults are living at home with their parents than at any time since the 1940s. While there are many different opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finance...

When creating an estate plan, we look at what is going on in your life at that time. But because life is full of changes, it is important to make sure your plan can change to accommodate whatever life throws your way.

Giving money to charity can provide personal and financial benefits to donors and be a part of the legacy they leave behind. If you are thinking about making a charitable gift—either now or when you pass away—there are some things to be aware of so you can make the most of your donation.

As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency in life. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to reevaluate the core assumptions you used to plan your future and set up your legacy.

While television and movies provide great entertainment, they are not always factual. Even shows based on real events are not entirely accurate. Creators of television programs and movies will often alter details of a story or situation to provide an enjoyable experience. Because of these widespread embellishments, people often develop misconceptions about many industries and professions, including attorneys and estate planning.

One of your most important considerations when creating your Estate Plan is who to choose to serve as the executor (also called a personal representative) of your estate. This is the person with will execute the instructions that you provide in your will.

What a beautiful hope we get to celebrate this Easter season, especially in these times were many people are struggling and feel a sense of  hopelessness. Christ died for our sins and rose again from the grave, conquering death and giving us the hope and assurance of eternal salvation for all who believe in Him!

Child support is a financial obligation that a noncustodial parent pays to the custodial parent to cover a portion of child-rearing costs. The amount of child support is determined by specific guidelines set forth by the Pennsylvania state legislature. 

When developing your estate plan, addressing every account or property you own is nearly impossible. There are sure to be some things you unintentionally overlook. However, by including a residuary clause, you can intentionally disburse any remaining items inadvertently left over during the estate or trust administration process to a named beneficiary or group of beneficiaries.

Wishing you and your loved ones a Happy Valentine's Day!.  May your heart be filled with happiness and your home with cherished moments. 

It is normal for married couples to share almost every aspect of their lives with each other. But when it comes to death, even the closest couples might become tight-lipped about certain topics. As uncomfortable as it might be to discuss subjects like burial arrangements and remarriage, they should be broached as part of creating a comprehensive estate plan. Seemingly mundane details, such as the location of important documents and contact information, should also be addressed.