Blog & Resources

Ask a Question” mailbag: “Can my son use my power of attorney to give away all my property?”

A Durable Power of Attorney gives your “Agent” the right to make financial decisions on your behalf during your lifetime. Each power of attorney can be unique. I need to examine your actual document to answer the question, can your son use that particular document to legally make gifts to himself, but here are some facts. A durable power of attorney can give your son the right to make unlimited gifts. In other words, your Power of Attorney could allow your son to legally leave you penniless.

From Our “Ask a Question” mailbag: How do I petition for guardianship of my brother? “My mother has taken care of my severely autistic little brother his whole life in Philadelphia. She can no longer do so and wants me to take on the responsibility. How do I become my brother’s legally recognized Guardian?”

How important is it to choose a Philadelphia Will Contest Attorney whose only focus is estate litigation? Naturally; never trust a complex will contest to a part-time practitioner. That is to say, such cases require specific experience in a particular court. In other words, a “Philadelphia Will Contest Attorney” cannot exist without years of experience. Indeed, contesting wills in the Orphans’ Court is learned over time. As an illustration, with over 20 years of experience, even someone like myself learns more each day.

From Our “Ask a Question” mailbag: Can a non-citizen spouse inherit land from me, a US citizen, even while a non-resident? My wife lives in India, but I have property in my name here in the United States.

From our “Ask a Question” mailbag: My father remarried and then recently died, how do I locate the Will? I’ve tried to get His wife to produce his will but she will not respond to my calls, he lived in in Bucks County.

The IRA Trust, An Underutilized Estate Planning Tool.

To ensure that your money passes on only to your direct descendants, consider forming an IRA Trust.

All qualified plans (IRA, Roths, 401ks, SEPs, TIAA-CREF, etc.) allow you to name a beneficiary to receive the plan at your death. But, if this person is your child, they will have the chance to defer income tax recognition by converting the plan into an “Inherited IRA”. BUT, with an “Inherited IRA” your child, not you, has the ability to name a beneficiary. And it is likely this beneficiary will be your daughter-in-law or son-in-law rather than your grandchildren.

Ask a Question” mailbag: I need life insurance as part of my estate plan to cover the cost of my son’s college tuition and pay off the mortgage. What policy best fits my needs?

First, focus on the reasons for why you are purchasing life insurance. Life insurance is an excellent Estate Planningtool, but only if you are clear as to its purpose.

From our “Ask a Question” mailbag: “My mother lives in Philadelphia and is getting divorced. Does she need an estate lawyer in PA? Does divorce and estate planning go together?”

From our “Ask a Question” mailbag addresses the issue of combining a medical power of attorney and divorce.

“I gave my wife my medical power of attorney and divorce started soon after. During our divorce proceedings, does my wife still have the power to pull my plug?”

From our “Ask a Question” mailbag addresses what to do if the executor refuses to file the Will:

“My sister refuses to file my mother’s Will. She moved into the house and won’t return my calls. What can I do? Should I hire an estate litigator?”