Bassi, Vreeland & Associates, P.C.
Local Experience for over 70 years
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Estate Administration & Probate Archives

If you own a business, you should get a succession plan in place

If you own a business, knowing how to plan for the future is important. You have to continually set goals, assess your progress and make adjustments as you go -- always with an eye toward your company's long-term prosperity. However, have you started thinking about your company's future after you are gone?

What should you look for in an executor?

As you're getting older, you're realizing that you do need to get your estate plan together and protect yourself and your heirs. You don't want to pass away without making your wishes known and knowing that you didn't do everything that you could to protect those you love.

Estate valuation affects taxation

Residents of Charleroi, Pennsylvania, often need to deal with matters of estate administration and probate. In consultation with experienced experts, the value of each gross estate needs to be determined at the beginning of the process. The gross estate is defined as the value of the estate before taxes and debts are paid. According to Internal Revenue Service (IRS) regulations, there are two ways to calculate that value. One is the "date of death" value and the other is the "alternate valuation date" value.

Plan your estate carefully

Residents of Charleroi, Pennsylvania, want their estate plans to be done well in order to ensure that their heirs are in good shape. That requires an understanding of the best approach to estate administration probate. It also requires not cutting corners at the expense of a good plan. In view of that, here are some pitfalls to avoid.

Divorce affects estate planning

When Charleroi, Pennsylvania, residents write their will and detail how they want their estate handled, they may well be eager to include their dearly beloved husband or wife as a beneficiary or even as an executor. However, if the marriage ends, with antipathy superseding the previous state of marital bliss, having an ex-husband or an ex-wife as a beneficiary or executor of the estate is a profoundly unattractive state of affairs. For that reason, when reviewing estate administration and probate issues, it is important to decide how things should change after a divorce.

Explaining estate administration and executor duties

The administration of an estate is an important issue that everyone should learn about, especially if you are aged 50 and older. Even though you won't be around for the administration of your own estate, it's quite possible that you could have to deal with the estate of a parent, grandparent, spouse, adult child or anyone else close to you in life.

Prepare for your future with an estate plan

You may not realize it, but estate planning is one of the most important things that any one person can do to prepare for the future. Dealing with your estate might seem like a distant goal, something far down the road that you will deal with eventually. It’s important not to put off making a comprehensive estate plan—if not for your sake, then for your family’s.

Contact Us Today To Discuss Your Case

Bassi, Vreeland & Associates, P.C., has fully staffed offices in both Charleroi and Washington, and we serve clients throughout southwestern Pennsylvania. To discuss your legal needs with our experienced lawyers, call us at 724-705-0146. You can also send us an email.

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Charleroi Office
111 Fallowfield Avenue
P.O. Box 144
Charleroi, PA 15022

Phone: 724-705-0146
Fax: 724-483-1629
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Washington Office
62 East Wheeling St.
Washington, PA 15301

Phone: 724-705-0146
Fax: 724-483-1629
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