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
Category Archives: News
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
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
Judge Leonard B. Sokolove, who served for many years on the Orphans’ Court of Bucks County, died at his home on Monday, November 3. I had the honor of appearing before him on several occasions, and he was a man … Continue reading
Below are the comments I have submitted to the Pa. Disciplinary Board on the proposed change to Rule of Disciplinary Enforcement 217 that would require all “formerly admitted attorneys” to resign from all fiduciary positions, regardless of whether the lawyer … Continue reading
It has only now come to our attention that amendments to Pennsylvania disciplinary rules were proposed in September, with a comment period ending November 3. The amendments are intended to reduce lawyer misappropriations from client funds and fiduciary funds in … Continue reading
On October 27, 2014, Governor Corbett signed SB 428, making it Act 186 of 2014. The act makes changes to 20 Pa.C.S. 7799.3, which deals with pooled trusts for people with disabilities. The most significant change is that, when a … Continue reading
The IRS has issued five identical private letter rulings, apparently to five different parties involved in the same transaction, confirming that a court-approved reformation of a trust in accordance with § 415 of the Uniform Trust Code would be respected … Continue reading
Both houses of the legislature have passed SB 428, which makes changes to Pennsylvania laws on pooled trusts for persons with disabilities. … 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