Lindsay M. Schoeneberger

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This Thursday will be the final session of our three part series of Estate Planning Conversations. In the final session, we will focus on what happens when a loved one dies. Who should you call first? When should you be making this call? How do you pay for the funeral? What does probate mean? How long should it take? How do you know how much inheritance tax is due? Are you responsible for the tax?…
“Irrevocable Trust” sounds so formal and intimidating. Also, there are two very different pronunciations. Regardless of how you pronounce “irrevocable,” it can be intimidating if you are not properly advised during the drafting process. When a person creates an irrevocable trust, they relinquish ownership and control of the assets they are transferring to the trust. The assets are then controlled by the Trustee appointed in the trust document. The Trustee must control those assets…
Next to a Testamentary Trust created for the protection of minor’s assets, the most commonly requested trust is a revocable trust. A revocable trust can be a great tool if you need a little more control over assets, have property in different states, or have some more complex estate planning considerations. However, there are some drawbacks to a revocable trust as well.…
What is a trust and why do I need one? A trust is a great estate planning tool when used effectively and in the right situation. But most people know very little about trusts and often times think their estate does not warrant a trust. Over the next several posts, I hope to provide more information about trusts in general and help you decide if a trust is something worth considering. When dealing with a…
Thank you to everyone who attended the first of three estate planning conversations Russell, Krafft & Gruber is hosting in Ephrata.  Gary Krafft, Kathy Krafft Miller and I had the pleasure of speaking with several people who wanted to have a better understanding of the estate planning process and the necessary documents.  It was an interactive session and we enjoyed talking with everyone. Last night we focused on the three estate planning documents for everyone. …
This is the final installment of the intestate success series.  To see the other installments start here. If you’ve already read the second post in this series, then you know that the intestate succession can be rather complicated when you leave a surviving spouse and other family members.  But what happens when you don’t have a surviving spouse?  How are assets distributed in those circumstances?  Well, it depends on who survives you.…
This is the second installment of our Intestate Laws series.  In case you missed the first one, check it out here. Probably the biggest misconception people have about dying without a Will is that their spouse will just get everything.  Unfortunately, this is only the case under a small select set of circumstances.  I don’t know about you, but taking a chance that my situation would fit one of the few circumstances where my…
Do you have a Will?  If you do, when was the last time you looked at it?  Does it really say what you think it does?  What about a Financial Power of Attorney or Health Care Power of Attorney?  Is each of those documents up to date?  Does it meet your needs? If you are unsure how to answer any of those questions or if you have other estate planning related questions, please join us…
“I’ve got to do a Will so that the government doesn’t get everything!”  I cannot tell you the number of times I have heard some version of this sentiment.  While I am certainly a proponent of having and regularly updating a Will, preventing the government from getting everything is not actually one of the reasons you need a Will.  Those of you who have read my Myths of Estate Planning series might remember some examples…
“I’m so confused!  The woman at the bank said I have to keep this account here.  The guy at the insurance company said I should really do this.  And my friend said she didn’t do any of this.  I don’t know what to do!” The above is a general excerpt of conversations I have with Executors all the time.  The first few months of handling an estate can be tough.  You have just lost someone…