House

Gifting the House For $1: Good Idea or Not?

A common estate planning question is whether it is a good idea to gift your home to your children or other loved ones for a dollar. In the Commonwealth of Pennsylvania, when there is no outstanding mortgage or other title issues, the process itself involves drafting and recording a new deed, the kind of...
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Joint Accounts with Children = Poor Estate Plan

Three Reasons Joint Accounts May Be a Poor Estate Plan

By Jeremy A. Wechsler, Esq.
Your Estate Planning & Asset Protection Attorney

Many people see joint ownership of investments, bank accounts and real estate as an inexpensive way to avoid probate since joint property passes automatically to the joint owner upon...

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Caution: Gifting & Medicaid

Many seniors and retirees consider gifting assets for estate and long-term care planning purposes, or just to help out children and grandchildren. Gifts and transfers to a trust can initially make a lot of sense because they can save money in taxes and long-term care expenditures, and they can help out family members in...

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