On October 4, 2016, Governor Wolf signed into law House Bill 665 (Act 103 of 2016) which clarified certain sections of the Pennsylvania power of attorney law that went in effect on January 2, 2015 (Act 95 of 2014). The changes were aimed at correcting issues with commercial powers of […]
On October 14, 2016, Governor Christie signed a new law that will eliminate the New Jersey estate tax. Currently, decedents residing in New Jersey with taxable estates exceeding $675,000 may be subject to New Jersey estate tax. With the new law, New Jersey residents who die during 2017 will not […]
Granting a Financial Power Of Attorney (“POA”) gives an individual (the “Agent”) the ability to manage your assets (the “Principal”) and make decisions on your behalf during your lifetime. As soon as the POA documents are signed, they are active immediately, which makes choosing someone you trust essential. In Pennsylvania, […]
Same-sex marriages are now recognized in Pennsylvania. As a result of this recent development, same-sex couples now have more opportunity within the area of estate planning. Any individual that signed documents with an estate planning attorney in Philadelphia prior to the change in legislation should revisit their wills and other […]
When it comes to estate planning, it is important to enlist the services of a trusted professional that can guide you in the right direction. Planning what happens to your estate is crucial to ensuring that your family is supported and that your estate successfully passes to the intended beneficiaries.
If you die without a will in the Commonwealth of Pennsylvania, certain assets, including property, will be distributed based on the laws Interstate Succession. It is important to note that not all property is passed down by will. Certain assets, such as assets held in joint tenancy or tenancy by […]
It is recommended that you prepare this and give copies to your Executor and next of kin in a sealed envelope labeled “To be opened in the event of my death or incompetency.” It is not necessary to sign it, or to have it witnessed or notarized, but you certainly […]
Wills, Trusts, Estates and Taxes – Why draft a will when the Commonwealth of Pennsylvania already provides one? What happens if you die without a will? In Pennsylvania, your assets* that are in your name will be distributed based on the intestate succession laws of Pennsylvania. Specifically, your property will […]