We’ve created a new page that lists legislation that might be of interest to estate and trust lawyers in Pennsylvania, and provides links to bill information on the website of the Pennsylvania General Assembly, as well as brief summaries, affected … Continue reading
The Pennsylvania Department of Revenue has announced the release of new inheritance tax forms designed to “enhance processing efficiency.” Tax Update, No. 177 (Dec. 2014/Jan. 2015). According to the Department: The newly designed form has revised Ovals 4 through 11 … Continue reading
When a power of attorney provided for “limited gifts” to persons “my attorney reasonably considers to be the natural objects of my bounty,” the agent should be surcharged for gifts that exceed the federal gift tax annual exclusion amount, but … Continue reading
A Vanguard account payable to a named beneficiary at the death of the account owner is subject to the surviving spouse’s elective share under 20 Pa.C.S. § 2203. In re Estate of Rood, 5 Fid.Rep.3d 15, 107 Berks Co.L.J. 71 … Continue reading
The IRS has issued five identical private letter rulings, PLRs 201442042, 201442043, 201442044, 201442045, and 201442046, apparently to five different parties involved in the same transaction, agreeing that a court-approved reformation of a trust in accordance with § 415 of...
The Pennsylvania Supreme Court has adopted new ethics rules and disciplinary rules intended to address the problem of misappropriation of client and third-party funds, generally effective in 60 days. In re: Amendments to the Pennsylvania Rules of Professional Conduct and … Continue reading
Any “testamentary exception” to attorney-client privilege under Pennsylvania law does not apply to a subpoena to the decedent’s attorney in a defense to a challenge to life insurance beneficiary designations alleged to be the result of undue influence. Collautt v. … Continue reading
The Realty Transfer Tax Statement of Value, Form REV-183 EX, has been revised somewhat, bears the revision date “10-14,” and is now available for download through the Pa. Department of Revenue. Changes include the following: The explanations at the top … Continue reading
The defense of laches may bar a claim by the administrator of an estate for claims against the decedent’s agent under a power of attorney when the decedent herself failed to prosecute an action against the agent for nine years, … Continue reading
This article will explain some of the drafting decision reflected in the author’s sample form of durable general power of attorney (“the form”). The form and this commentary were originally published on 12/1/2014 to reflect changes to 20 Pa.C.S. Ch....