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Estate Planning

Wednesday, May 27, 2020

7 Reasons To Plan Your Estate Now


In the middle of the Coronavirus pandemic, is now the right time to consider updating or starting your estate plan?  Below are seven reasons I put together to consider why now may be the time. In no particular order:

1 – Concern About Future: For me, the pandemic has been eye opening in several ways personally, and many of my clients who have started their estate plans in the last couple of months say the same thing. Their concern for the future—and the unknown—has added urgency to planning.

2 – SECURE Act: The SECURE Act was passed in December, 2019—feels like a century ago, right? But it could change your estate plan, particularly if you have significant retirement assets. Get your plan reviewed to ensure it is SECURE Act optimized.


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Wednesday, May 6, 2020

Medicaid Update & Medicaid Trusts


Even before the Coronavirus hit this winter, every client I spoke with was adamant about not going into a nursing home. Ever. Surely, the daily headlines of nursing homes being unprepared for this pandemic, resulting in thousands of deaths, isolation from loved ones and other problems will only make the idea of a nursing home even less popular.

A nursing home (skilled, 24-hour care) is not optional for some folks who have health issues in which staying at home would be a danger. If only we all had crystal balls that worked, and could tell us how long we’ll live and what our ailments will be, it would take the guesswork out of planning.

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Wednesday, April 8, 2020

Life Has Changed -- Estate Planning Hasn't


The Coronavirus pandemic has been a shock to the country, and to each of us individually. Even in good times, clients were anxious to get their estate plans completed. Now, the desire to get a plan in place is even more intense, especially for those on the front lines of this crisis. 

The best time to plan is in good times, when life is calm, and you have the freedom of time to make decisions at a settled pace. Conversely, death bed wills are terrible because the person is under duress, can’t think clearly, and typically another family member is calling the shots.
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Tuesday, March 17, 2020

COVID-19 and Estate Planning


With COVID-19 and non-stop talk about the Coronavirus spread, is now the right time to start thinking about estate planning? Certainly, events like this force all of us to think about essentials--taking care of ourselves, our family, and making sure we have enough food and supplies. It is natural to want to put any non-essential task/project aside. I know I have done the same, preferring to use my time, energy and money for essentials right now.

My office is currently working virtually for the time being. Estate planning in Pennsylvania still requires documents to be signed, witnessed and notarized in person.
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Tuesday, February 11, 2020

The State of Estate Planning

This year, estate planners around the country are dealing with the new SECURE Act that Congress passed and the President signed into law late last year. The SECURE Act went into effect on January 1 and makes several changes to retirement plans.

For clients hoping their children or loved ones would be able to “stretch” an inherited IRA out over his or her lifetime, the new law restricts the payout time to 10 years. Those who’ve added an extra layer of protection using an IRA Trust will have to consider modifying such a trust, while also considering new planning opportunities.

As I tell clients, estate planning laws change every few years.


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Tuesday, December 17, 2019

Common Excuses for Estate Planning Procrastination

Procrastination with estate planning is common, but nonetheless unfortunate. Without a proper estate plan, you risk family conflict, placing a burden on loved ones during a difficult time, and ultimately leaving less money for the people you want to provide for. Having an estate plan is like having an insurance policy—you hope you never need it, but when you do, it’s there for you.  I have heard many excuses for failure to plan during my years of practice and describe a few of my ‘favorites’ below.


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Tuesday, December 3, 2019

The Essential Estate Plan

Let’s take a step back this edition and make sure you’re up to date on the essential estate planning components (for Pennsylvania residents). Think of estate planning like building a house. Every house needs a solid foundation, and that’s what I discuss below. However, you may require features such as a home office, an in-law suite, a two-car garage, etc. Just like building a house, each estate plan will vary. 

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Tuesday, October 22, 2019

Five Estate Planning Myths


There are lots of misconceptions about estate planning, and any one of them can result in costly mistakes. Understanding who needs an estate plan and what it should cover is key to creating a plan that is right for you and your family.

We have touched upon this previously, but it bears repeating.  A properly crafted estate plan allows you, while you are still living, to ensure that your property will go to the people you want, in the way you want, and when you want. It offers the comfort that your loved ones can mourn your loss without being simultaneously burdened with unnecessary red tape and financial confusion.


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Wednesday, September 25, 2019

Making Your Funeral Wishes Known

Don't leave your family in the dark about your desired funeral arrangements.  Making a plan in advance can provide support for your loved ones during a difficult time.
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Tuesday, September 10, 2019

Estate Planning Tips - Do This, Not That!

Don't make common estate planning mistakes -- In this article, explore what it takes to create the most optimal estate plan for you and your loved ones.
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Tuesday, August 20, 2019

Beneficiary Forms: 5 Common Mistakes

Are the beneficiary designations on your accounts mere afterthoughts? Consider how important these designations are, and the fact that things can go very wrong if these designations aren't correct. Read about five common mistakes in this blog.
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The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

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| Phone: 215-706-0200

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