The power of an agent to engage in “banking and financial transactions” gave the agent the power to liquidate certificates of deposit created by the decedent (referred to as “Totten trusts”). The beneficiary named on the C.D.s raised other issues … Continue reading
Daniel Evans
S.B. 115 has been passed by both houses of the Pennsylvania legislature and was signed by the governor on July 17, 2024, becoming Act 65 of 2024, P.L. ___, to be effective in 60 days. The bill amends 20 Pa.C.S. … Continue reading
S.B. 1231 has been passed by both houses of the Pennsylvania legislature and was signed by the governor on July 15, 2024, becoming Act 64 of 2024, P.L. ___, to be effective in 90 days. The bill adopted changes to...
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Because real estate transfer tax exemptions or exclusions that apply to transfers of real property also apply to acquisitions of interests in real estate companies, a distribution of an interest in a limited liability partnership by an living trust to … Continue reading
Both houses of the Pennsylvania legislature have passed H.B. 1760, which was signed by the governor on July 1, 2024, becoming Act 40 of 2024. Act 40 amends 20 Pa.C.S. Ch. 88 (which was titled “Slayers” and is retitled “Slayers … Continue reading
Both houses of the Pennsylvania legislature have passed S.B. 1084, which makes a number of changes to Title 13 (the Uniform Commercial Code) relating to electronic transactions, and also makes a technical change to Chapter 56 of Title 20 (the...
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In Moore v. United States, 602 U.S. ___, No. 22-800 (6/20/2024), the U.S. Supreme Court upheld the constitutionality of the “mandatory repatriation tax” (MRT), which was enacted as part of the Tax Cuts and Jobs Act in 2017 and required … Continue reading
The decedent’s handwritten will included the direction that his “salery [sic] from NTM INC. shell [sic] be paid directly to [decedent’s surviving spouse] for a period of two years or until such time that she remarries, which ever occurs first,” … Continue reading
Under an agreement with the two shareholders of a corporation, the corporation was obligated to purchase shares upon the death of a shareholder for a fixed price, and the corporation purchased life insurance on the shareholders in order to have … Continue reading
The Orphans’ Court did not abuse its discretion to remove the incapacitated person’s father as guardian of his person when the father had breached his fiduciary duties by comingling funds, failed to comply with court orders by failing to provide … Continue reading