Many parents with more than one child find it difficult to choose one to administer their estate. Sometimes they don’t want to offend a child. Sometimes it’s truly hard to choose. Often their solution is to ask their attorney to appoint both children as co-executors. While this may appease a parent’s conscience, it is rarely … Continue reading Should my children be co-executors?
Category: Wills and Estates
Medical Assistance’s Estate Recovery Program
Many individuals find that they are unable to afford nursing home care, hospital care, prescription drugs, and home and community based services as they age. This is a sad, but very common occurrence in today’s world. The only option for many is to use Medical Assistance to help pay for the above-listed benefits. The receipt … Continue reading Medical Assistance’s Estate Recovery Program
Medical Assistance’s Estate Recovery Program
Many individuals find that they are unable to afford nursing home care, hospital care, prescription drugs, and home and community based services as they age. This is a sad, but very common occurrence in today’s world. The only option for many is to use Medical Assistance to help pay for the above-listed benefits. The receipt … Continue reading Medical Assistance’s Estate Recovery Program
Effect of Death on a Divorce: Can the Spouse take under the Decedents Will or is the Spouse Limited?
With a divorce rate above 50%, the inevitable sometimes occurs. During the divorce proceeding, one spouse dies. The affect of this situation can lead to a complex interaction between the Divorce Code and the Estate Code. Because there are so many different possibilities, I will briefly lay out the possible scenarios and likely effect on … Continue reading Effect of Death on a Divorce: Can the Spouse take under the Decedents Will or is the Spouse Limited?
Inheritance Tax Rates
In 2009, in order to be subject to Federal Estate tax, an estate must exceed $3,500,000 in value. The maximum tax rate for 2009 is 45%. By the year 2010, the Federal Estate tax is eliminated!! This means that in the year 2010, no one leaving an estate of any size will pay a Federal … Continue reading Inheritance Tax Rates
Please make my son and daughter co-executors NOT!
When drafting a will, our clients with more than one child often request that we name both of their children as co-executors so not to offend one of them. While that decision is ultimately up to our client, in most circumstances, that is not the best solution. First, if one or more of the children … Continue reading Please make my son and daughter co-executors NOT!
What Happens If I Die Without a Will?
In Pennsylvania, if an individual dies without a will, or if part of his assets are not disposed of by will, the state has laws about how that person’s assets will be divided. Those laws are called the laws of intestate succession. The following is a general guide. It is not to be considered a … Continue reading What Happens If I Die Without a Will?
National Firearms Act Estate Planning 101
As an estate attorney, how do you handle the planning of an estate, which includes National Firearms Act [NFA] firearms? What if your client asks you, prior to his/her purchase of a NFA weapon, what is the best form of ownership, with long term estate planning in mind? This issue may plague estate attorneys, leaving … Continue reading National Firearms Act Estate Planning 101
Grandpop’s Machine Gun in the Chest
What does an attorney do, when he/she is confronted with the fact that grandpop died, and in his chest, there was a gun? This issue faces estate attorneys quite frequently, especially in pro-gun states, such as Pennsylvania. While most attorneys, not proficient in firearms law or firearms in general, will properly handle the transfer of … Continue reading Grandpop’s Machine Gun in the Chest
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