Insights
How to Organize Information and Documentation for Estate Administration in Pennsylvania: A Timeline for Personal Representatives
For those serving as the personal representative of an estate, determining what documentation and information to keep and organize can be confusing. Based on our experience working with Executors and Administrators in Philadelphia and the surrounding counties, we put together a list of documents and information that we recommend you gather and keep.
Making Gifts to Children and Other Family Members
In this video, Attorneys Katie Commons and Mary Beth Melso discuss some of the issues that come up when making gifts of cash or other assets to children or other family members. They touch on: annual gift tax considerations, timing of gifts, gifts in excess of the gift tax exclusion, gifting to minors, the “Med-Ed” exclusion, special considerations related to Pennsylvania inheritance tax laws, and questions of basis for capital assets.
Should Probate be Avoided?
Attorneys Katie Commons and Mary Beth Melso discuss the pros and cons of going through the probate process. They talk about what probate is, why state laws matter, issues that won’t be solved by avoiding probate, the potential benefits of the probate process; the role of trusts, and how to find the best solution for you.
Will Substitutes to Avoid Probate
Attorney Mary Beth Melso details some of the methods available for the purpose of avoiding probate, and offers guidance on what to consider before employing any of them.
Why Beneficiary Designations are Important
Beneficiaries and traditional, non-ROTH retirement accounts.
Trusts in an Estate Plan
Learn about common situations that benefit from the use of Trusts