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Estate Planning

Tuesday, August 20, 2019

Beneficiary Forms: 5 Common Mistakes

Are the beneficiary designations on your accounts mere afterthoughts? Consider how important these designations are, and the fact that things can go very wrong if these designations aren't correct. Read about five common mistakes in this blog.
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Tuesday, June 18, 2019

Prepare for the SECURE Act


This has been under the radar for most folks, but be prepared. Last month, the U.S. House of Representatives passed the SECURE Act, a bill to change the laws on retirement savings. The U.
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Tuesday, May 21, 2019

Aretha Had a Will After All!

Aretha Franklin, the Queen of Soul, died in August 2018 without a will -- until today, when 3 handwritten wills were uncovered. What could possibly go wrong?


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Wednesday, May 15, 2019

Deathbed Wills


DEATHBED WILLS: Why are they problematic? For a few reasons:

#1 - You don't have a clear frame of mind to plan your estate. If you're not thinking clearly, chances are, your plan won't work.

#2 - You may have a few children, but only one is by your bedside, essentially writing the will for you and telling you to sign it. This is improper, and depending on several factors, could be subject to challenge. Your will is YOUR will, and you must be the one that considers what's part of the will.
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Thursday, February 14, 2019

Your Beneficiary May Be A Stranger!



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Thursday, November 29, 2018

Federal Estate Tax Update


In December 2017, the Tax Cut and Jobs Act of 2017 was passed by Congress and signed into law. The updated 2019 exemption amount for estate taxes and gift taxes is $11.4 million per person, or $22.8 million for a married couple. If you have more than this amount when you die, your estate is taxed at 40%.
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Tuesday, October 2, 2018

Don't Make These Estate Planning Mistakes!


Imagine you are one of five children, and you learn you’re receiving an inheritance. You find out there were five CD’s, each worth $50,000—except for one, that’s worth $25,000. Your late father decided to assign each CD one beneficiary, as that seemed equal and fair. But you ended up being the one who received the CD worth $25,000. If your father's intention was to give an equal share to all five of you, then you’re going to be upset at what happened here.


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Tuesday, July 17, 2018

Make Your Estate Plan Bulletproof


If done properly, an estate plan is supposed to give you peace of mind. You know… that SWAN feeling (Sleeping Well At Night). There’s no perfect plan, but if you invest the time, have realistic expectations, and face the realities of your particular family situation, you can build a plan that is rock solid. As I always say, it’s important to review your plan on a regular basis—every three to five years makes sense for most families, but will vary based on your individual needs.

I often get asked about how to avoid estate challenges and will contests.


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Monday, May 21, 2018

Five Key Reasons You Need An Estate Plan… Even If You Think You Don’t Need One!


It’s more than a legal document

There is no doubt that legal documents like a Last Will & Testament, Health Care Power of Attorney, and Durable Financial Power of Attorney are crucial, but estate planning goes beyond document production. One area that folks often overlook is organizing their affairs for loved ones. Not only does this help them understand where everything is, it smooths the process for when that loved one must step in either as Executor, Power of Attorney, etc. When you sit down to work with an attorney on an estate plan, you’re going to get the legal documents, but also the tools and advice you need to make things actually WORK for your loved ones.

 

Without a plan, unintended beneficiaries may get your stuff

By neglecting to have at least a Last Will & Testament, you willingly forfeit total control over who inherits your property.


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Tuesday, April 17, 2018

Let's Talk About Pennsylvania's Inheritance Tax


What is the PA Inheritance Tax?

It is a tax on property that you own within Pennsylvania at the time of your death. If you’re a resident of PA, most of your property, except for out-of-state real estate, will be subject to this tax. The tax is due by your estate in the nine months following your death.

Are there excluded assets?

Not really. Life insurance is the most prominent excluded asset, and farmland may be an excluded asset, but generally, most assets are included.
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Tuesday, February 20, 2018

The Dangers Of Doing It Yourself


Writing your own Last Will & Testament doesn’t seem like a bad idea at first. You can do it quickly, it’s relatively inexpensive, and you can create it online without ever having to leave the comfort of your couch. However, for most of my clients, a Last Will & Testament is only the beginning of an estate plan, not the estate plan. What I find is that, today, many families need to be concerned about asset protection, legacy planning and elder planning—none of which can be fully addressed using just a will.

Also, let’s face it—families are much more complex today than they were 20+ years ago.


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The Law Offices of Jeremy A. Wechsler assist clients with Estate Planning matters in Willow Grove, PA as well as Abington, Hatboro, Dresher, Horsham, Bryn Athyn, Huntingdon Valley, Fort Washington, Jenkintown, Glenside, Oreland, Warminister, Wyncote, Ambler, Elkins Park, Flourtown, Philadelphia, Warrington, Cheltenham, Gwynedd Valley, Jamison, Feasterville Trevose, Richboro, North Wales, Blue Bell, Lafayette Hill, King of Prussia, Collegeville, Oaks, Phoenixville, Oxford Valley, Langhorne, Penndel, Bristol, Fairless Hills, Bensalem, Plymouth Meeting, Furlong, Philadelphia County, Bucks County and Montgomery County.

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| Phone: 215-706-0200

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