Posted by Ted Hoppe | Feb 02, 2024 |
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.
Posted by Ted Hoppe | Jan 26, 2024 |
January 28 is International LEGO day. Since the 1940s, people have been creating their own worlds, brick by brick, with LEGOs. With an estate plan, you can help your loved ones build a great future. Make your estate plan as specific as you want by providing step-by-step instructions for how you want them to honor your legacy. Or give them the resources to bring their vision to life, no strings attached. An estate plan—like LEGOs—makes a great gift that can be enjoyed by generations to come.
Posted by Ted Hoppe | Jan 20, 2024 |
A testamentary trust provides an alternative to a direct bequest under a Will. You may choose to direct in your Will that all accounts and property owned by you in your sole name without beneficiary designations be transferred to a trust upon your death. Unlike a revocable living trust, the testamentary trust is created at your death, and ownership of your accounts and property are transferred to the trust through the probate process.
Posted by Ted Hoppe | Dec 29, 2023 |
An estate plan is a living set of documents that should be regularly reviewed and updated. Even if you are vigilant about changing your estate plan over time, there may be aspects that you have missed, such as beneficiary designations for retirement accounts or life insurance policies.
Posted by Ted Hoppe | Dec 22, 2023 |
The Law Firm of L. Theodore Hoppe, Jr., Esquire, would like to wish you and your family a very Merry Christmas!
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Posted by Ted Hoppe | Dec 22, 2023 |
Estate plans need to be regularly updated to reflect changes in your life and the law so they can do what you want them to do. Outdated estate plans, like outdated resumes, simply do not work.
Posted by Ted Hoppe | Dec 15, 2023 |
it is important for your estate plan to get a regular check up to address changes in your life circumstances or in the law to ensure that optimal plans are in place to provide for you and your family's future needs before any problems arise. Like an undetected medical condition, an out-of-date estate plan can have devastating, unintended consequences.
Posted by Ted Hoppe | Dec 13, 2023 |
Despite its name, irrevocable trusts can, and sometimes should, be modified? Changes in laws, family, trustees, and finances can frustrate the trustmaker’s original intent when the trust was created. Or, sometimes, an error in the trust document is identified. When this happens, it is wise to consider changing the trust, even if that trust is irrevocable.
Posted by Ted Hoppe | Dec 09, 2023 |
When you decide to create a comprehensive estate plan, consider whether to tell your loved ones about your plan. Estate planning can be a complex and sensitive matter, so your choice may depend on your unique relationships with loved ones and your family dynamics. Sharing your estate plan with your loved ones can compromise the privacy of your financial and personal information. Some people prefer to keep these matters private, especially when it comes to distributions of significant amounts of money or property. There are advantages and disadvantages to revealing private information about your estate plan. You can choose to communicate details relevant to specific individuals or offer a broader explanation to everyone involved.
Posted by Ted Hoppe | Dec 03, 2023 |
Parents often contact me with questions about child custody and how the process works in Pennsylvania. We understand why there are so many questions, too, because there's a lot of misinformation about child custody. We are here to dispel the misinformation, clarify misunderstandings, and provide the right information so you can make smart, informed decisions about your child and your unique situation.
Posted by Ted Hoppe | Nov 23, 2023 |
On October 3, 1789, President George Washington issued a proclamation designating Thursday, November 26 as a national day of thanks. In his proclamation, Washington declared that the necessity for such a day sprung from the Almighty's care of Americans prior to the Revolution, assistance to them ...
Posted by Ted Hoppe | Nov 11, 2023 |
About two out of three Americans will die without a will. This is known as dying intestate.
While the reasons for not having a will vary, the end result is the same for everyone: they do not get to choose who receives their property when they die. Instead, their money and property are distribute...
Posted by Ted Hoppe | Oct 27, 2023 |
You can create your estate plan at any time, but many people choose to begin the process sooner rather than later. Why? Because you never know when life-changing medical or financial emergencies can strike that will require someone else to manage your affairs during your lifetime.
Posted by Ted Hoppe | Oct 14, 2023 |
Most people usually think about who will receive their retirement and bank accounts, life insurance proceeds, real estate, and other valuable possessions upon their death. However, a person’s personal property (their stuff) can also be a source of value that needs to be addressed.
Posted by Ted Hoppe | Apr 27, 2022 |
Every now and then I am consulted about a situation involving dissatisfaction with how an Estate is being administered. Sometimes its the Executor who is being challenged and sometimes its a beneficiary who does not agree with something that the Executor is doing.
Let me start out by saying tha...
Posted by Ted Hoppe | Apr 20, 2022 |
You may have heard that in Pennsylvania, words written on a napkin can be considered a Will. Crazy, right? Well actually that can be true. In Pennsylvania, the requirements for a document to be a valid Will are pretty limited. First, the testator (the person who is making the Will), must have tes...
Posted by Ted Hoppe | Apr 13, 2022 |
A guardianship is an Order entered by the Court that provides for the care of the person and finances of an incapacitated person.
Posted by Ted Hoppe | Apr 08, 2022 |
When preparing your Will, there are 3 main things that you want to consider: 1) What it is you are looking to accomplish?; 2) How do you want your Estate to be distributed?; and 3) Who is going to handle the administration of your Estate? This article with some valuable information to help you answer these three questions.
Posted by Ted Hoppe | Jan 04, 2022 |
Preparing your Will and other Estate Planning documents is a great first step. However, before you put the documents away, there are some additional steps you should take to ensure that your plans will be carried out the way you envisioned when you pass away.
Posted by Ted Hoppe | Aug 12, 2021 |
If you changed your name to your spouse's last name when you were married, Pennsylvania law allows you to retake your prior surname if you are getting divorce. This case be done any time after the divorce action is filed. 54 Pa. C.S. §704. The process is pretty simple. You complete a form called ...
Posted by Ted Hoppe | Apr 11, 2020 |
Looking for something productive to do while you are quarantined? You might consider creating or updating your will. Wills make things easier for the people you care about since Wills make your desires known.
Do you have a Will?
If not, contact me for an easy questionnaire form to get start...
Posted by Ted Hoppe | Aug 06, 2019 |
When preparing your Will, one of the most important parts will be you plan for distributing your estate – the assets that you own at the time or your death. It's a good idea to have several different options for your estate plan. In other words, you should have a plan for what will happen to your...
Posted by Ted Hoppe | Aug 01, 2019 |
One question that often comes up when I am talking with clients about their custody situation is the difference between legal and physical custody. It is important to understand these terms because they play an important role in the custody process.
Legal Custody
Legal custody establishes who...
Posted by Ted Hoppe | Jul 30, 2019 |
One of the issues that separated parents with children often face is how best to communicate with each other regarding the children. Best case is that parents are able to talk with each other and also trust each other regarding exchanging information. However, that is not always the case. But ...
Posted by Ted Hoppe | Dec 31, 2017 |
Happy New Year to our clients, family and friends. I wish all of you a happy and blessed 2018!