Change of situs of a testamentary trust was denied under 20 Pa.C.S. § 7708(c) when all qualified beneficiaries and one trustee consented to the change but one trustee did not consent, but change approved under § 7708(g) when the court … Continue reading
Person designated as “executor of my estate and insurance” was the trustee who was the life insurance beneficiary described as “trustee(s) or successor(s) as provided in last will” when the will included specific bequests of life insurance proceeds even though … Continue reading
The Philadelphia Orphans’ Court has denied a petition by Board of Directors of City Trusts of Philadelphia seeking a modification of the trust for Girard College under the will of Stephen Girard that would have converted the college’s residential program … Continue reading
The Commonwealth Court has considered the standards to be applied by the Public School Employees’ Retirement Board when it is alleged that a Public School Employee’s Retirement System beneficiary designation is the product of undue influence. Snizaski v. Pub. School … Continue reading
At its recently completed 2014 annual meeting, the National Conference of Commissioners on Uniform State Law approved the Uniform Fiduciary Access to Digital Assets Act. When enacted by the various states, the act will provide personal representatives of estates, agents … Continue reading
This second part of a four part series describes the changes made by Act 95 of 2014 to the authority of agents to make gifts and other acts affecting the principal's estate plan and the disposition of property after the death of the principal.
Montgomery County has adopted new fee schedules for the Register of Wills and Clerk of the Orphans’ Court, both effective 8/8/2014. Fees of Register of Wills, 44 Pa.B. 5188 (8/2/2014); Fees of Clerk of Orphans’ Court, 44 Pa.B. 5187 (8/2/2014). … Continue reading
When a claim against an estate is filed with the Clerk of the Orphans’ Court in accordance with 20 Pa.C.S. § 3532(b)(2), and the claim is paid or otherwise satisfied without an account being filed with the court, it is...
The Pennsylvania Supreme Court has held that a Register of Wills who issues letters to a personal representative without a bond required by law is not immune from liability under the Political Subdivision Tort Claims Act, 42 Pa.C.S. §§ 8541-8542, and … Continue reading
As previously reported, the IRS has published final regulations on the expenses of estates and trusts that are subject to the 2% floor for miscellaneous itemized deductions. T.D. 9664, 79 F.R. 26616 (5/9/2014) These final regulations require estates and trusts … Continue reading