Blog & Resources

My parents were both residents of Delaware County, Pennsylvania. When they died they put my inheritance in a trust and appointed my brother as trustee. What information is he required to give me as trustee of my Trust? As a Beneficiary, is the trustee required to give me updates and financial information of my trust?

In 2006, Pennsylvania adopted the PA Uniform Trust Act. This law imposes a duty on trustees to inform Beneficiaries about the existence of the trust, along with certain current information on the trust.

President Obama’s 2015 State of the Union Address was a throwback in some aspects. Specifically, Obama’s proposal included removing a veteran staple in the estate planning attorney’s playbook, the so-called “Angel of Death” tax loophole. Let’s take a look at exactly what the “Angel of Death” tax loophole is, and why you should care about it.

In this recurring piece, I’d like to inform you about recent tax news that can affect or guide your estate planning. In this edition, we’ll cover two topics: inflation rates and the gift of tuition.

My Mother transferred her Bucks County home to me two years ago. She recently died. I am going to sell the house soon, but do I have to pay Pennsylvania Inheritance Tax?

Not in your case. The Pennsylvania Inheritance Tax of 4.5% applies to transfers to children at death, and includes all gifts made within one year of the date of death. If the house was transferred properly into your name 2 years ago, it will not be subject to the Pennsylvania Inheritance Tax.

My mother’s Will gives me the option to disclaim on my inheritance, how is this done and how long does it take to prepare a disclaimer?

A disclaimer is an heir’s legal refusal to accept a gift or a bequest. If you properly execute a disclaimer, the asset disclaimed will pass to whoever would have received it had you died before the person who left the asset to you.

We posted recently about attorney’s fees in Pennsylvania. Let’s take a look at how a dispute over fees actually plays out.

A Montgomery County Orphans’ Court case, DeVitis Estate, is a cautionary tale for executors. It shows what judges will do when faced with unexplained fees. In this case, the deceased named her daughter executor of the estate. Due to perceived foul play, two beneficiaries of the estate requested an audit of the estate and then filed objections to the accounting.

In New Jersey, a disclaimer is an heir’s legal refusal to accept a gift or a bequest. In other words, you can’t force someone to accept a gift. If a Will names someone an heir or if a life insurance policy names a beneficiary, that heir or beneficiary cannot be “forced” to accept the gift.

My husband died several years ago, and our son is still a minor. After my husband’s death, my father-in-law was killed in a car accident and his estate was opened in Montgomery County, Pennsylvania. My father-in-law’s personal representative brought a lawsuit against the driver. My father-in-law had no Will, was not married and was survived by my husband’s brother and sister. Because he died without a will, a portion of my father-in-law’s estate passes to my son. The wrongful death suit is being settled, and I am being asked as my son’s mother to approve the settlement. That settlement divides the settlement amount 90% as Wrongful Death and 10% as Survival. Does this division matter to my son?

Periodically reviewing your Pennsylvania estate plan is critical. Significant life events including marriages, children and moving can dramatically affect how your assets are distributed. Other issues such as changes in state and federal laws can also affect your intended estate plan. In addition to your plan failing, old and unreviseddocuments can delay probate, and in some cases end up in litigation. These are some of the many reasons reasons to periodically review your estate plan to ensure it still reflects your intentions.

First, if your Mother’s attorney is serving as the executor and will also be providing your mother’s estate legal services in Montgomery County, the attorney should not be charging both an executor’s fee and a fee for legal services based solely on a percentage of the estate.