Category: Estates / Wills

Monitoring an Agent Under a Power of Attorney

We frequently receive calls from individuals who are concerned about the conduct of their loved one’s agent under a power of attorney.  While the details change, the pattern is often the same; a child who is not his or her parent’s agent under a power… Continue reading

Estate Planning Alert

The ever-shifting tax battles in Washington have left estate planners in a quandary for the past 12 years; and it’s beginning to look as though the angst is to continue at least until November’s election. As you know, the so-called “Bush Era Tax Cuts” are… Continue reading

Time To Update Estate Documents?

          With the recent changes in the Internal Revenue Code, Congress has increased the personal exemption for the estate of anyone dying after January 1, 2011, to $5,000,000.  For a married couple the exemption is $10,000,000, and talking full advantage of the allowable exemption has… Continue reading

Estate Planning for Pets

In the 1970 Disney Movie The Aristocats, Madame Adelaide Bonfamille wishes for her fortune to be left to her cats, which will retain it until their deaths, at which time the fortune is to pass to Edgar, her long-time, yet unscrupulous butler.  Life then imitated… Continue reading

It is Time to Review Your Estate Plan

 Good news.   As you may know, the Internal Revenue Code has recently been revised, and in the case of the Estate Tax, the changes are substantial.   The amount of the individual exclusion which was scheduled to be $1,000,000 in 2011 was increased to… Continue reading

Post Death Capital Gains and the December Tax Legislation

In December 17 of last year President Obama signed into existence the “Tax Relief, Unemployment Insurance Authorization and Job Creation Act of 2010” to clarify the uncertainties surrounding the future of the federal estate tax – at least for the next two years.  As outlined… Continue reading

Have A Will, Keep It Current

A 2007 study by an affiliate of Martindale-Hubbell found that over one-half of adult Americans do not have a will.  What this statistic implies from state to state varies in the detail.  However, on a general level we can state what it means in Pennsylvania. First,… Continue reading

Estate Tax Watch (continued)

Ever since Congress modified the federal estate tax in 2000, we have been predicting additional changes because the provisions of the 2000 Act were (to be charitable) unusual.  The Act provided that the personal exemption for each person on death would gradually increase to $3,500,000… Continue reading

Estate Tax Reform?

As many of you already know, Congress partially repealed the federal estate tax by eliminating the federal estate tax for estates of individuals dying during 2010. Prior to the elimination set for 2010, the estate tax was gradually reduced over the years from 2001 to 2009,… Continue reading

Seven Forward Thinking Tips for 2008

Here is a list of seven ad-hoc suggestions, any one of which could make you feel better as we bring 2007 to a close and move boldly into 2008:   Help a senior (and yourself) by having a durable power of attorney and living will… Continue reading