Up until the Tax Reform Act of 1986, grantor trust status was something to be avoided, but thanks to rulings by the Internal Revenue Service, intentionally creating a grantor trust is now an accepted estate and gift tax planning strategy. … Continue reading
Daniel Evans
The Department of the Treasury has released interim guidance on the discharge of federal estate tax liens under IRC section 6324(a). Unlike other federal tax liens, the federal estate tax lien arises immediately at death, without any assessment, notice or … Continue reading
Westmoreland County has adopted new Orphans’ Court rules, to be effective 30 days after publication in the Pennsylvania Bulletin. “Orphans’ Court Rules; No. 3 of 2017,” (Westmoreland Co. 4/6/2017), 47 Pa.B. 2431 (4/29/2017). … Continue reading
Lycoming County has rescinded its Orphans’ Court Rules and adopted new rules consistent with the state-wide rules that took effect in September 2016, to be effective 30 days after publication in the Pennsylvania Bulletin. “Amendments to the Rules of Orphans’ … Continue reading
Much of the Revised Uniform Law on Notarial Acts, 57 Pa.C.S. Ch. 3 (which was enacted in Pennsylvania as Act No. 73 of 2013), was to become effective only after the Department of State gave notice that is has approved … Continue reading
Although father testified that home he purchased for his own use was titled in joint names with his son for “estate planning purposes,” proceeds of sale were shown to have been paid to father and son equally, and deposit of … Continue reading
An agent with the power to receive the income or corpus of a trust, as provided in 20 Pa.C.S. § 5602(a)(7), cannot revoke the principal’s revocable trust by withdrawing all of the income and principal; an agent’s power over a … Continue reading
A same-sex couple could enter into a valid common law marriage before 2005, and the evidence supported the existence of the marriage. In re: Estate of Stephen Carter, 2017 PA Super 104 (4/17/2017). … Continue reading
Objections to executor commission and legal fees denied when executor-lawyer who was one of three executors claimed commission of $70,000 and legal fees of $90,000 out of estate of almost $10 million. Keller Estate, 7 Fid.Rep.3d 90 (O.C. Montgomery Co. … Continue reading
Agent under power of attorney who was appointed “to serve jointly” with co-agent, but who acted alone, is surcharged for unexplained or unaccounted for expenditures, for changing an IRA beneficiary to herself, which was inconsistent with the principal’s intent as … Continue reading