Executors; Estate & Gift Tax Update

 

THE ROLE OF THE EXECUTOR... The Executor is the CEO of an estate. The individual or institution filling that role is, in essence, the owner of your estate when you pass on, and has a “fiduciary duty” to do what is in the best interests of your beneficiaries, the people you leave...

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A Great Estate Planning Tool: Life Insurance

What if we told you that there is a financial product available that does the following:

Transfers wealth tax-free to your spouse and/or your heirs (that includes Pennsylvania inheritance tax, federal estate tax, federal income tax and state income tax). Ensures that any income loss as a result of your death does not affect...
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Probate vs Non Probate: What’s the difference?

When planning your estate in Pennsylvania, it is important to understand the difference between probate and non-probate assets. Probate is the process through which a court determines how to distribute your property after you die. Some assets are distributed to heirs by the court (probate assets) and some assets bypass the court process and...

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Pennsylvania Probate

If you have recently lost a loved one in Pennsylvania, you may be faced with the Pennsylvania probate process. In Philadelphia, Bucks County, Montgomery County and Delaware County (areas where we practice), probate generally works the same.

Probate is the process of the county Register of Wills appointing an Executor or Administrator. Whether or...

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Pennsylvania Inheritance Tax Basics

Pennsylvania Inheritance Tax Basics
 
When you die in the Commonwealth of Pennsylvania, any property or assets that you leave to other people is subject to the Pennsylvania Inheritance Tax. This is in addition to possible federal estate taxes. Currently, in 2013, the federal estate tax exemption is over $5 million per person, so...

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