Category Archives: Estates and Trusts

Should an Irrevocable Trust Be Part Of My Estate Plan?

Sep
02
2020

What is an Irrevocable Trust?

An irrevocable trust is created by a grantor, which cannot be revoked or amended by the grantor during their lifetime or at the time of the grantor’s death. Once the irrevocable trust is created, it …

Posted in Legal Watch, Estates and Trusts

Benefits of Seperate Revocable Trusts For Married Couples

Aug
11
2020

Tax Benefit of Complete Step-Up in Basis for Assets is Often Significant

Married Couple Discusses Revocable Trust With Advisor In a previous post, we discussed the benefits of placing your assets into a revocable trust before your death or potential incapacity. Revocable trusts provide numerous benefits …

Posted in Legal Watch, Estates and Trusts

Grantor Retained Annuity Trust – June Never Looked So Good

May
28
2020

older couple meeting with attorney to develop estate plan with GRATAll Time Low 7520 “Hurdle” Rate For June Makes The “GRAT” A Very Attractive Estate Planning Strategy

June 2020 is shaping up to be a very attractive month for estate planning. As we maneuver through these uncertain times in light …

Posted in COVID-19 Updates, Legal Watch, Estates and Trusts

Pennsylvania Temporarily Allows Remote Notary Services

Apr
20
2020

SB 841 Provides Framework for Remote Online Notarizations

hands of two people signing documents pa now allows remote notary services

On  April 20, 2020, Governor Wolf signed into law Senate Bill 841 which, among other things, provided a loose framework for notaries to perform authorized “remote online notarizations” (RON), while also providing …

Posted in COVID-19 Updates, Legal Watch, Estates and Trusts

Executing Estate Planning Documents During COVID-19

Apr
13
2020

Our Attorneys Are Available For Remote Estate Planning Services

man and woman on video conference with estate planning attorney

Amid the COVID-19 crisis, many are wondering about the requirements and recommendations for executing estate planning documents. We have compiled a list of the minimum statutory requirements for the critical estate …

Posted in COVID-19 Updates, Legal Watch, Estates and Trusts

CARES Act – Waiver of 2020 Required Minimum Distributions

Apr
09
2020

The CARES Act Waives 2020 RMDs For Individuals

coins spilling from mason jar

As many of you are aware, the Coronavirus Aid, Relief, and Economic Security, or “CARES Act”—the third emergency bill that Congress has passed in response to the novel coronavirus (COVID-19) pandemic—was signed …

Posted in COVID-19 Updates, Legal Watch, Estates and Trusts

Not All Tax Deadlines are Extended – Which Tax Deadlines Affect You

Mar
30
2020

tax forms and coffee mug on desk

Most Tax Filing and Payment Deadlines Have Been Extended But NOT All

Due to the COVID-19 pandemic, the IRS, Pennsylvania Department of Revenue, and local tax agencies have been working to lessen the burden of filing and

Posted in COVID-19 Updates, Legal Watch, Estates and Trusts

PA Dept. of Revenue, Inheritance Tax Division: Procedures in Response to COVID-19

Mar
24
2020

What Taxpayers Need to Know About Inheritance Tax Filing and Payments

calculator and tax return

The Department of Revenue has closed all physical offices and call centers. Currently, the only method of contacting the office is through the Department of Revenue Customer Support website

Posted in COVID-19 Updates, Legal Watch, Estates and Trusts

Pennsylvania Inheritance Tax Has Changed For Some Children

Feb
04
2020

PA Inheritance Tax Has Changed For Children, Age 21 or Younger, Who Inherit Money From a Parent

children-age-21-and-younger-no-longer-pay-inheritance-tax-in-pa

Pennsylvania has relieved the tax burden from a class of beneficiaries who inherit from their parents. The class is narrowly defined as a …

Posted in Legal Watch, Estates and Trusts

What Happens If I Go Into A Nursing Home?

Jan
03
2020

Estate Planning and Elder Law Seminar —  The Dangers of Failing to Plan For Your EstateCouple meets with attorney for estate and elder law planning

One of the largest and most aggressive creditors in the United States today is the nursing home system. Failure to plan can result in …

Posted in Legal Watch, Estates and Trusts, Events