Easy Questions  
Free Legal Documents

Limitations of a Will in Alba, PA

Limitations of a Will in Alba, PA


A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove...but the world may be different because I was important in the life of a child.
 
- Forest E. Witcraft


Wills are a wonderful way of addressing the needs of loved ones in state planning but not all can be carried out by your will.

What a will won't do includes the following:

Bequeath Certain Kinds of Assets or Property. You cannot use your will to leave:

• Property that is in the living trust

• Life insurance policy proceeds that has a beneficiary in it

• Money in the retirement plan that has beneficiary indicated in its forms.

• Stocks or bonds held in beneficiary and has transfer-on-death or TOD form. If you want to change the beneficiary, contact the brokerage company

• Money in a payable-on-death bank account.

• Joint tenancy. Leaving a property that is not entirely yours but is co-owned with someone else automatically transfers the entire property to the surviving co-owner. Your share that was indicated in your will can only go to it beneficiary if the all owners of the property dies simultaneously.

Direct Funeral Arrangements

It would be wise to make separate documents regarding your wishes and inform your executor its location when needed. It sometimes takes days or weeks for a will to surface after death and memorial services or wishes indicated may not be executed.

Reduce Estate Tax

Having a will won't help evade taxes. If you are expecting your estate to owe federal taxes, start taking steps to decrease your tax liability. In terms of tax bills, there are many trusts that can reduce or for postpone it.

Avoid Probate

Establishing the validity of a will can take months or years of being tied up in a probate court before final contribution of the property commences.

Apply Certain Conditions on Gifts

A gift that is awarded via a will should not contain condition attached like a contingent on marriage, divorce or change of religion of the receiver. You can only include lesser influences like leaving money for a certain person when he goes to college. Making conditional gifts can sometimes open a can of worms because questions will arise as to who will enforce the wills' condition and for how long.

Leave Money for Illegal Purpose

This is a rare situation, but you cannot allocate money for use on something illegal.

Arrange to Care for a Special Need Beneficiary

Long term care for someone with special needs will be better off in a trust that is tailored to the persons' needs. It will not jeopardize government benefits as well as it can provide extra income for the person and its family that can be use in his care.

Leave Money to Pets

Pets should be left to new owners who will take care of them. Leave the money to them to help with your pets' related expenses. Pets cannot own property so leaving property directly to them is not a good idea. Trust are allow in some other states but won't be necessary if you have confidence in the person whom you left your pet(s) with after you pass away.
 
Personalize & Print a Free PA Last Will Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free PA Living Trust Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Alba, PA
Palange Dawn M L
200 Spring Ridge Dr # 205
Reading, PA 19610
(610) 685-9960
Family Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Attorneys
Lutz George M
845 N Park Rd Ste 101
Reading, PA 19610
(610) 372-9900
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Alderfer Jennifer R
845 N Park Rd Ste 101
Reading, PA 19610
(610) 372-9900
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Case Dexter K
845 N Park Rd Ste 101
Reading, PA 19610
(610) 372-9900
General Practice Attorneys, Attorneys
Case Di Giamberardino & Lutz
845 N Park Rd Ste 101
Reading, PA 19610
(610) 372-9900
Attorneys,  Legal Service Plans,  Bankruptcy Services,  Management Consultants,  Bankruptcy Law Atto
Robert Mirin
2515 N Front St Ste 1
Harrisburg, PA 17110
(717) 909-9900
General Practice Attorneys, Attorneys
Von Vital Todd M Attorney
200 Spring Ridge Dr Ste 202
Reading, PA 19610
(610) 939-9866
General Practice Attorneys, Attorneys, Legal Service Plans
Freeburn & Hamilton, P.C.
2040 Linglestown Rd
Harrisburg, PA 17110
(717) 265-9822
Automobile Accident Attorneys,  Accident & Property Damage Attorneys,  Attorneys,  Employee Benefits
Gallagher Terrence V
416 Jefferson Ave
Scranton, PA 18510
(570) 347-9816
Accident & Property Damage Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Plans
Nichole M Staley O'Gorman
1820 Linglestown Rd
Harrisburg, PA 17110
(717) 236-9777
Attorneys,  Divorce Attorneys,  Mediation Services,  Child Support Collections,  Divorce Assistance,
Benjamin Hess
1408 Penn Ave
Reading, PA 19610
(610) 376-9736
Attorneys, Real Estate Attorneys, Insurance Attorneys, Product Liability Law Attorneys, Litigation &
Altland, P Daniel - Caldwell & Kearns
3631 N Front St
Harrisburg, PA 17110
(717) 686-9592
Corporation & Partnership Law Attorneys,  Attorneys,  Family Law Attorneys,  Real Estate Attorneys,
Caldwell & Kearns (Douglas K. Marsico)
3631 N Front St
Harrisburg, PA 17110
(717) 686-9592
Attorneys,  Criminal Law Attorneys,  Drug Charges Attorneys,  Traffic Law Attorneys,  Legal Service
Caldwell & Kearns Pc
3631 N Front St
Harrisburg, PA 17110
(717) 686-9592
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Banking & Mortgage L
Placey Richard L
3631 N Front St
Harrisburg, PA 17110
(717) 236-9577
General Practice Attorneys, Attorneys
Vance Jr Robert T
100 S Broad St # 1530
Philadelphia, PA 19110
(215) 557-9550
Vance Robert
100 S Broad St # 2230
Philadelphia, PA 19110
(215) 557-9550
Attorneys, DUI & DWI Attorneys, General Practice Attorneys, Legal Service Plans
Mancke John B
2233 N Front St
Harrisburg, PA 17110
(717) 686-9395
Criminal Law Attorneys, DUI & DWI Attorneys, Attorneys
Navitsky Olson & Wisneski
2040 Linglestown Rd Ste 303
Harrisburg, PA 17110
(717) 541-9205
Insurance Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Legal Service Plans
Andrascik Allen
2601 Darlington Rd
Beaver Falls, PA 15010
(724) 846-9188
Attorneys, Legal Service Plans
Serratelli Schiffman Brown & Calhoon PC
2080 Linglestown Rd Ste 101
Harrisburg, PA 17110
(717) 540-9170
Social Security & Disability Law Attorneys,  Attorneys,  Corporation & Partnership Law Attorneys,  E
Serratelli, Lori K - Serratelli Schiffman Brown Cal
2080 Linglestown Rd Ste 201
Harrisburg, PA 17110
(717) 540-9170
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Divorce Attorneys, Social Security & Disabi
Marcin Frank A
811 Mulberry St
Scranton, PA 18510
(570) 347-9050
General Practice Attorneys, Attorneys, Legal Service Plans
Marcmn Law Office
811 Mulberry St
Scranton, PA 18510
(570) 347-9050
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US