Fiduciary Access to Digital Assets

Senate Bill 320, which enacts the Revised Uniform Fiduciary Access to Digital Assets Act (“RUFADAA”) as Chapter 39 of the Probate, Estates and Fiduciaries Code, 20 Pa.C.S. Ch. 39, was signed into law by Governor Wolf on July 23, 2020,...

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Low-Interest Estate Planning Strategies

The Internal Revenue Service has announced federal rates for the month of June that will be the lowest in the histories of sections 1274 and 7520 of the Internal Revenue Code (“IRC”). The §7520 rate, which is used to value...

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Economic Impact Payments for Decedents

[5/6/2020 Update: The IRS has updated its “Economic Impact Payment Information Center” FAQ to include the following new Q10: “Q10. Does someone who has died qualify for the Payment? (added May 6, 2020)“A10. No. A Payment made to someone who died...

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Virtual (Videoconference) Probate Procedures

The Supreme Court’s order declaring a judicial emergency due to the COVID-19 pandemic, and the orders of local courts declaring emergencies in their counties and closing county offices, have halted or drastically slowed the operations of most offices of the...

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No Required Minimum Distributions in 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), P.L. 116-136, enacted March 27, 2020, added a new § 401(a)(9)(I) that eliminates any required minimum distribution for the year 2020. New § 401(a)(9)(I)(i) states that the required distribution requirements...

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