When it comes to estate planning, even the smallest mistake can have enormous financial consequences for families. A recent Tax Court ruling highlights just how critical it is to properly handle estate tax portability—a valuable but often misunderstood tool that allows a surviving spouse to claim their deceased spouse’s unused federal estate tax exemption. At […]
Let’s be honest—TV dramas, TikToks, and word-of-mouth “legal advice” have given rise to some wild ideas about how the law actually works. At our law firm, we often hear myths that make us raise an eyebrow… or two. Let’s set the record straight. Here are five common legal myths that people still believe—and the truth […]
When people think of estate planning, they often picture complicated documents, legal jargon, and distant concerns about taxes or assets. But at its core, estate planning is a deeply personal process—one that can reveal, preserve, and even strengthen your family values. What Is Estate Planning Really About? Yes, estate planning covers wills, trusts, powers of […]
Estate planning is one of the most important steps you can take to protect your legacy and provide clarity and security for your loved ones. Yet, many people delay the process—or unknowingly make critical mistakes that can create confusion, financial hardship, or even legal battles. At our firm, we’ve seen firsthand how avoidable missteps can […]
When a parent or loved one passes away and leaves behind a house to multiple heirs—typically siblings—it can create a complex emotional and legal landscape. While the intention behind leaving a shared property is often to provide for all children equally, the practical realities of co-owning inherited real estate can lead to disagreement, confusion, or […]
Inheritance is more than the transfer of assets after a person passes away—it’s a legal and financial process that can significantly impact families, taxes, and future generations. Understanding inheritance in the context of estate planning is crucial for protecting your assets, honoring your wishes, and avoiding unnecessary disputes or delays. What Is Inheritance? Inheritance refers […]
Planning for the future is one of the most important steps you can take to protect your loved ones and ensure your wishes are honored. When it comes to estate planning, two of the most effective tools are trusts and wills. While both serve the purpose of asset distribution, they offer unique benefits. Understanding the […]
Probate is the legal process where a court oversees the distribution of a deceased person’s assets. While it ensures proper administration, probate can be time-consuming, costly, and invasive. Thankfully, proper estate planning allows you to bypass probate, ensuring a smoother transfer of assets to your beneficiaries. Here’s how you can achieve that. 1. Create a […]
Choosing the right executor for your estate is one of the most important decisions you’ll make during the estate planning process. This person will ensure your wishes are carried out, debts are settled, and assets are distributed to beneficiaries. It’s a big job, so here’s how to choose the best person for the role. 1. […]
Creating a will is a vital step to ensure your wishes are carried out after you pass away. It decides how your assets are distributed, who will care for your children, and who will manage your estate. However, life changes such as marriage, divorce, having children, or acquiring new assets can significantly impact your estate. […]
In a previous article, we discussed the Pennsylvania Uniform Transfers to Minors Act (PUTMA), which offers a straightforward way to gift or transfer property to minors without the complexities of establishing a formal trust or extensive court oversight. Additionally, there are mechanisms to address both custody and financial issues related to minors upon a parent’s […]
Estate planning might not be the most exciting topic, but it’s one of the most important steps you can take to protect your assets and provide for your loved ones. Unfortunately, many people make avoidable mistakes that can lead to unnecessary stress, legal disputes, or financial losses. Whether you’re just starting or revisiting your plan, […]
1. Updating Beneficiary Designations Divorce attorneys play a crucial role in guiding clients through the dissolution of marriage, focusing on dividing assets, alimony, custody, and more. However, while handling the many legal and financial challenges in a divorce, attorneys may miss or overlook critical estate planning concerns that could significantly impact clients’ futures. Effective estate […]
Estate planning is often overlooked, but it’s an essential aspect of financial and personal security. Whether you have significant wealth or modest assets, estate planning ensures that your wishes are honored and your loved ones are protected after you pass away. Here’s why estate planning is so important: 1. Protection of Your Loved Ones The […]
Estate planning is a critical aspect of financial management, ensuring that your assets are distributed according to your wishes after you pass away. While many people attempt to handle estate matters on their own, the complexities involved often necessitate the expertise of a skilled estate lawyer. Here are five compelling reasons why hiring a good […]
As financial landscapes evolve, so do tax laws, and the sunset of the estate tax (AKA the “Death tax” or “Wealth Tax”) exemption is no exception.
There are many financial decisions you can control to maximize your estate for your heirs after you pass. Now more than ever, it is crucial to make sure your affairs are in order. Pennsylvania is one of several states that still has an inheritance tax. The tax rate for Pennsylvania Inheritance Tax is 4.5% for […]
Last Wills and Testaments are the last people think of when they talk to their families, friends or spouses. Most people find talking about creating what we call an “Estate Plan” is morbid. That couldn’t be farther from the truth. It is a wonderful gift you can give your family and friends. It not on […]
You have probably heard the adage “a man who is his own lawyer has a fool for a client” and it appears that statement couldn’t be truer when it comes to lawyers who drafted their own last will and testament. In the annals of history, many prominent attorneys have surprisingly died either without a will […]
'%3E%3Cpath d='M17.5585 2.38989H2.44569C1.09663 2.38989 0 3.48652 0 4.83558V15.1646C0 16.5136 1.09663 17.6103 2.44569 17.6103H17.5543C18.9034 17.6103 20 16.5136 20 15.1646V4.83972C20.0041 3.49066 18.9075 2.38989 17.5585 2.38989ZM18.8868 15.1646C18.8868 15.897 18.2909 16.4929 17.5585 16.4929H2.44569C1.71322 16.4929 1.11732 15.897 1.11732 15.1646V4.83972C1.11732 4.10725 1.71322 3.51135 2.44569 3.51135H17.5543C18.2868 3.51135 18.8827 4.10725 18.8827 4.83972V15.1646H18.8868Z' fill='%2311416F'/%3E%3Cpath d='M12.6133 9.87169L17.5046 5.48518C17.7322 5.27827 17.7529 4.92652 17.546 4.69478C17.3391 4.46718 16.9874 4.44649 16.7556 4.6534L10.0103 10.7076L8.69437 9.53236C8.69023 9.52822 8.68609 9.52408 8.68609 9.51994C8.65712 9.49098 8.62816 9.46615 8.59505 9.44132L3.2402 4.64926C3.00846 4.44235 2.65671 4.46304 2.4498 4.69478C2.24289 4.92652 2.26358 5.27827 2.49532 5.48518L7.44463 9.90894L2.51601 14.523C2.29255 14.7341 2.28013 15.0858 2.49118 15.3134C2.60291 15.4293 2.75189 15.4914 2.90086 15.4914C3.03743 15.4914 3.17399 15.4417 3.28158 15.3424L8.28468 10.6621L9.64202 11.8746C9.74961 11.9698 9.88204 12.0153 10.0145 12.0153C10.1469 12.0153 10.2834 11.9656 10.3869 11.8705L11.7815 10.6207L16.7556 15.3466C16.8632 15.45 17.0039 15.4997 17.1405 15.4997C17.2894 15.4997 17.4343 15.4417 17.546 15.3259C17.7571 15.1024 17.7488 14.7465 17.5253 14.5355L12.6133 9.87169Z' fill='%2311416F'/%3E%3C/g%3E%3Cdefs%3E%3CclipPath id='clip0'%3E%3Crect width='20' height='20' fill='white'/%3E%3C/clipPath%3E%3C/defs%3E%3C/svg%3E%0A)
