Whenever I give a presentation about long-term care, inevitably there will be some discussion about the odds of needing a nursing home. For instance, one statistic from the federal department of Health and Human Services (HHS) indicates that only 15% of older adults will spend greater than two years in a nursing home. If you're...
Estate Planning Isn’t Just For The Wealthy
There are many facets of an estate plan - it's a pretty broad term, and way too many of us have the perception that we don't have enough money to engage in estate planning. That couldn't be further from the truth, and that mindset can put you and your family at great...
Tangled Title: What Is It and How To Avoid It
Across Pennsylvania, there are thousands of properties that have a ‘tangled title’ where the person living in the home does not actually own the home. It’s a pervasive problem, particularly in urban areas. The sooner it is identified and fixed, the better. When there is tangled title, mortgages can’t be refinanced. Repair grants,...
Addressing Beneficiaries With Addictions In Your Estate Plan
By Jeremy A. Wechsler, Esq.
Estate Planning & Elder Law Attorney
Does a loved one have an addiction that you need to consider when drafting your estate plan? There is a balancing act when trying to help a family member with an addiction by leaving them financially better off, but...
Pennsylvania Inheritance Tax and Pennsylvania Probate – Quick Review
We receive many questions about PA Inheritance Tax and probate matters, so here are a few pointers.
PA Inheritance Tax Basics: Pennsylvania imposes an inheritance tax upon death on all property that you own in PA, including real estate and financial assets. So, if you live in PA and...
Why Are We Discussing Life Insurance?
Often times, the mention of life insurance can scare even the most rational folks away. But when it comes to estate planning (and elder planning), life insurance potentially has a significant role to play. The use of insurance will depend on the circumstances, but the idea of life insurance shouldn't be discarded at first...
Beneficiary Designation Forms
It's time for some spring cleaning, and on your list, make sure to add checking your financial accounts with beneficiary designations. They range from annuities, to IRA's, 401(k)'s, life insurance policies and more.
If you have accounts with beneficiaries designated, it is important that you understand the beneficiary designations will take precedence over...
Thoughts On Estate Planning
Plan Now, Not Later: The COVID crisis has only exacerbated a recurring problem we see at the law firm--folks waiting until it's too late to plan. I always emphasize the fact that you should be in control of your estate plan. It's not ideal if your adult child is attempting to be...
Nursing Home Abuse & Neglect
Nursing home neglect and abuse is a heartbreaking issue for any family to deal with. Below are several common warning signs of nursing home abuse, and later, a review of the common legal issues that nursing homes may face. If you are faced with such a circumstance now or in the future,...
Federal Estate Tax Changes Under President Biden?
By Jeremy A. Wechsler, Esq.
Your Estate Planning & Elder Planning Attorney
There has been much talk of changing tax codes in the coming months or year(s). Tax laws seem to change more often these days, which hampers tax planning for the long-term.
Currently, for your estate to be hit with...