If you have a special needs child, you have probably spent years learning everything that is best for your child’s medical and financial care. Even though you may be very familiar with their assets and their medical treatment, you could run into issues talking to financial institutions and medical providers...
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Most of us would like what we’ve worked hard for all of our lives to continue to provide for our families for a long time, even after we pass. We’d like it if that money didn’t go straight to creditors or get spent on things that are frivolous. As such, it’s...
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Time and time again, the same scenario rears its ugly head: estate planning was put off until it was too late and, upon the first spouse’s passing, the surviving spouse learns that all isn’t well in their world. Titling of your assets is imperative. Just because you’re married does not mean...
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Talking about what you want to happen at the end of your life is difficult and emotional. Most people are uncomfortable when confronted with their own mortality or the fact that mom and dad won’t be around one day. That’s why it’s important to think about what you want to...
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It’s rare that I advise my clients to add their child’s name to one of their assets (bank account, real estate, car, etc.) during their lifetime in order to save from probate (a court process designed to pay debts and transfer assets from a decedent’s name) and future tax consequences....
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A Pooled Trust (also known as a (d)(4)(C) trust) is a special needs trust created by Social Security legislation in 1993 which allows individuals with disabilities to maintain their public benefits while setting aside funds to pay for their needs. The trust is managed by a non-profit organization as trustee....
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Most of us dream of that special day when we walk down the aisle. The bride, dressed in a froth of white with beautiful flowers in her hands, is accompanied by her groom and surrounded by their closest friends and family members as witnesses to their love. Oftentimes, this day...
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Not less than once a week, I hear a client say something to the effect of, “my wife wouldn’t do that!” or “My kids are really good…They won’t fight when I die.” There’s also the infamous, “They all get along - they won’t fight over the few bucks I have.” Though...
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2020 was a year like no other for many of us. Who would have expected the pandemic, homeschooling and a global shutdown?! Even though we practiced social distancing, one common factor stands out amongst our clients – an influx of pet adoption. If you know me, you understand my love of...
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Often times, folks have heard the term “guardianship” but really don’t know what it means. In Pennsylvania, if someone is incapacitated and does not have a power of attorney appointing another (their “Agent”) to manage their financial affairs and to make medical decisions on their behalf, or is...
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The Secure Act has made several changes to the way we advise naming a beneficiary to a retirement account. In the past, it was very common for clients to request we name their revocable living trust as the beneficiary of their retirement accounts due to the distribution language of the...
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“In this world, nothing can be said to be certain, except death and taxes.” Benjamin Franklin sure knew what he was talking about so many years ago when he uttered the infamous line. I am asked all the time how taxes can be reduced upon a person’s passing so that...
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One of the most common questions I’m asked when a loved one dies is “Do I have to pay inheritance tax?” The answer, almost always, is YES! The follow up question then asked is “EVEN IF I DON’T LIVE IN PENNSYLVANIA?”. Unfortunately, the answer still is YES! Then there’s “Even...
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I’m sure you’ve heard the terms “will,” “trust,” “power of attorney” and “health care directive” in the past. What do these terms mean, though, and when are they actually needed? If you don’t know the exact meaning of these terms, you aren’t alone. Even the most basic estate planning documents are...
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If we are fortunate, we all grow older. We all experience life and its set of obstacles. And eventually we all die. I’m often asked what a person NEEDS to have and the repercussions if they don’t. Truth be told, if you fail to plan ahead, the State has fail safes...
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All too often, I consult with clients who had a parent who passed away who had remarried but hadn’t made the prerequisite arrangements for their estate. This essentially leaves two different families with the task of sorting through what passes to whom. Questions like, “Why wouldn’t they have done this before...
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Do you have a Power of Attorney in place? What happens if you don’t and the day arrives when you are unable to make a decision for yourself? Typically, your Medial and Financial Durable Powers of Attorney specify who is authorized to act in your stead and to make decisions...
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The Secure Act has made several changes to the way we advise naming a beneficiary to a retirement account. In the past, it was very common for clients to request we name their revocable living trust as the beneficiary of their retirement accounts due to the distribution language of the...
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It is likely that you or someone you know is on their second, third, maybe even fourth marriage. Although they have found happiness more than once in their life, there are many complications that exist with a blended family. One such difficulty is determining who receives your assets upon your...
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While counseling my clients, we often hear of the one bad-seed beneficiary who won’t be happy with their share of assets upon my client’s passing. They ask what we can do to protect their estate and other beneficiaries from any possible contest. It’s sad, but there’s always one who doesn’t...
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No one wants to believe that it’s a possibility, but over the years, I’ve heard more horror stories of kids stealing from their incapacitated parents, or “borrowing” money hoping their siblings wouldn’t find out what they were doing. We advise our clients that having a power of attorney is the foundation...
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Imagine if you find yourself in a situation where you become unexpectedly ill - unable to speak for yourself, manage your financial affairs, make medical decisions concerning your wishes… although scary, this reality is what many individuals are finding themselves during the Covid-19 pandemic. We have been interviewed since the virus...
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Most people die with some form of debt, be it credit cards, student loans, mortgages and lines of credit. While some people die with an insolvent estate, meaning that their debts far outweigh their assets, what happens if mom dies with a Will stipulating her assets are to be equally...
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Do you have a power of attorney in place? What happens if you don’t and the day arrives when you are unable to make a decision for yourself? Typically, your medical and financial durable powers of attorney specify who is authorized to act in your stead and to make decisions...
CONTINUE READING We've all heard the old adage "Don't try this at home." The same holds true for administering an estate without the knowledge and guidance of a trained estate planning attorney. While in my many years of practicing in the estate administration field, I can tell you stories of how someone's attempt...
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One of the first calls a family usually makes after a loved one passes is to their attorney, at which point we begin to explain the process of settling the estate. And the response is unanimous – it costs how much?!? Among the ever-increasing funeral expenses is the cost to settle...
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Sadly, it has become standard to ask my clients whether they have any concerns with a loved one with substance abuse. In the past, this subject was taboo – client’s preferring to keep skeletons hidden. However, today with the opioid endemic unyielding to discriminatory factors such as race, age and...
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It isn’t uncommon that I’m told that “a neighbor suggested…” or “my brother-in-law said…” when asking a client why a document was drafted a certain way or why an account lists a specific beneficiary instead of all the children equally. Although well meaning, this “advice” may lead to disastrous results. Everyone’s...
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You’ve worked so very hard during your lifetime and made a concerted effort to save for your retirement, often times with the goal of leaving a piece of your legacy for your children. But is your IRA protected? Keep reading to find the top 5 reasons why naming an individual as the...
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I’m sure you’ve heard the phrase “elder law” before and may even have met an elder law attorney but do you know what it actually means to be an elder law attorney? I’m often asked if, as an elder law attorney, I only work with old people. The truth of the...
CONTINUE READING I'm sure you've heard the phrase "Elder Law" before … or have met an elder law attorney but have you ever wondered what that term means and what exactly an ‘elder law" does? Keep reading to learn why sometimes it's important to meet with a specialist when it comes to your...
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Veteran Benefits. The phrase is thrown around but what are these benefits? Did you know that there’s a benefit available for our veterans and their spouses to assist with the overwhelming cost of health care? VA Benefits – most people are aware that they exist but don’t know all that is...
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Sometimes, even basic documents can lead to messy litigation upon your passing. When discussing estate planning, most of my clients skate past the topic of choosing someone to act as a power of attorney or executor they trust. Of course, we trust our child… I’ve heard it many times. But what...
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You have your documents drafted, signed and put away… most people don’t discuss the estate administration process before a loved one dies because let’s face it, who really wants to? But if the person you named as your Executor doesn’t know what to do, they could fall victim to one...
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Most people who have a pet treat them as a part of their family. Others go so far as to provide for them in their estate planning documents. But what happens if you don’t have a will but have a trust instead? Why probate your estate just for your dog’s...
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A challenging and crucial element of special needs planning involves staying current with the continually evolving policies and regulations of public assistance agencies, like the Social Security Administration. These ever-evolving policies have an immediate effect for someone on public benefits. Without staying up to date, this could lead to a reduction...
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As a concierge attorney, oftentimes I find myself sitting with my clients in their living rooms and at their kitchen tables listening to their problems, their concerns, and helping them navigate their goals. And believe me, I’ve heard it all. Let’s face it; most people don’t want to talk about what...
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My clients are intelligent people. What stops them from initially reaching out to me when they begin having thoughts and ideas about planning for their future? The uncertainty of our futures – whether it be an unexpected illness or death, even the idea of living to the age of 95 is...
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Many people choose to lower their tax bill by making charitable contributions. There are certain steps that a person can take to be sure that their contributions are reflected on their tax returns as well as in their estate plan. But how? With the recent election, regardless of which way you...
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In 2014, after a whirlwind year for same sex couples, the United States Supreme Court struck down portions of the Federal Defense of Marriage Act and then the US District Court ruled that Pennsylvania’s ban on same-sex marriage was unconstitutional. This is amazing… but now what do we do? As a result...
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You’ve been designated as the trustee of a special needs trust. Or maybe you have a child with a special needs trust. You know that it’s important to plan ahead so that they don’t lose their benefits, but now what? First party special needs trust, self-settled trust, d4a, d4c third party...
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Here are some frequently asked questions (FAQs) about Estate Planning and other legal matters. What is a probate? Probate is a legal process in which a court appoints someone, subject to a judge's supervision, to manage a descendant's estate, including paying the debts and distributing the property of the descendant. What is a...
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What is a living trust? A living trust is a legal entity, sometimes referred to as a revocable living trust, created by a person to hold title to his or her property in order to avoid the probate process. How does a living trust avoid probate? A living trust allows you to avoid...
CONTINUE READING It’s no secret that it’s likely that you may end up being married or in a long term relationship with more than one person during your lifetime. A blended family can take several forms – a married couple who has children from a previous relationship, families with children who are in...
CONTINUE READING Women, on average live longer than men. How does this average involve your estate planning? As a result of the longevity of women over men, there is an increased need to plan for physical and/or mental incapacity that can occur in your later years. Discuss with your estate planning attorney...
CONTINUE READING I recently had a client who hired me to settle her mom’s estate. She cried in disbelief when she realized how expensive everything was. It costs a lot to die! Read on to learn how to prevent this same reaction from your daughter when it’s your turn to go. When we think...
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