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...Category: Probate and Estate Administration
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...
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...
Ingredients For A Positive Legacy
A good legacy plan one made with the following ingredients: Clarity - Making sure your instructions and wishes are clear is imperative. Customized Plan - Your legacy plan must be crafted by your unique circumstances, personality, portfolio, morals, and more. Consultation - You should consult with a qualified attorney that asks many questions...
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Will Challenges
Upon your passing, your will becomes a public document once it is probated. Probate is a formal legal process of your executor proving your will, being formally named executor, and accounting/distributing assets.
Because a Will is a public document upon probate, it is important to consider the possibility that someone may challenge your Will....
Wills vs. Trusts
People always ask, what is the difference between these two documents? Will or trust, I'm still leaving my assets to the people I care most about, right? Sure, that is true, but there are several key differences between the two.
Trusts are usually pieces of a larger puzzle. For instance, you may have sizeable assets...
Trust Mill Attorney Disbarred
Beware of Trust Mills: Trusts mills are companies that sell trusts to senior citizens, without consultation by a lawyer. The motivation behind trust mills are two-fold: First, they charge a significant amount of money for un-customized documents that do a disservice to clients. Second, the companies, while building the trusts, send an affiliated...
Appointing Agents — An Important Estate Planning Component
One of the most difficult tasks in any estate plan is choosing who will manage your affairs while you’re alive and after you pass away. In addition, if you have children under eighteen, you also must consider who will step in as guardians if need be. An agent is a broad term, and...
Should You Avoid Probate in Pennsylvania?
Should You Worry About Probate?
When I first started practicing it was drilled into my head by other attorneys in this field across the country that probate should be avoided at all costs. But in Pennsylvania, the situation is a little different. Warning: This article is long! The true summary? Every case is different, and...
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When I first started practicing it was drilled into my head by other attorneys in this field across the country that probate should be avoided at all costs. But in Pennsylvania, the situation is a little different. Warning: This article is long! The true summary? Every case is different, and...
Estate Planning in Uncertain Times
When I assist people in estate planning, we look at many scenarios. We plan for the “god forbids” and hope they never happen, but if they do, that they happen far down the road. Who wants to plan 20, 30 or 40 years out when their true concern is how bad or good...