Frequently Asked Questions





 


Q: What is considered an estate?

A: An estate includes everything that a person owns or controls – from physical possessions to financial accounts.  Everything from clothes, jewelry, art, vehicles, antiques, homes, land, cash, checking and savings accounts, retirement accounts, life insurance, stocks, bonds, and more is considered part of a person’s estate.

Businesses and business interests are also considered part of a person’s estate, as are any debts or obligations owed to others.

These items may be held in the person’s own name or they might be held in a partnership or joint ownership arrangement.  Items in an estate can also be placed in a trust.  (Keep in mind that any items transferred into an irrevocable trust during a person’s lifetime are not considered part of their estate).

Any monies generated upon a person’s death – like life insurance – are also considered part of the individual’s estate. 


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Wexford, PA 15090
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