Although the Adoption Act contains no provisions allowing an adult adoption to be annulled, the Orphans’ Court nevertheless has the power to annul an adult adoption with the consent of both parties in order to allow the parties to enter into a same-sex marriage. In re: Adoption of: R.A.B., Jr., 2016 PA Super 295 (12/21/2016).
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— Short Term Rates for 2016 —
| Month | Annual | Semiann. | Quarterly | Monthly |
|---|---|---|---|---|
| Jan. | 0.75% | 0.75% | 0.75% | 0.75% |
| Feb. | 0.81% | 0.81% | 0.81% | 0.81% |
| March | 0.65% | 0.65% | 0.65% | 0.65% |
| April | 0.70% | 0.70% | 0.70% | 0.70% |
| May | 0.67% | 0.67% | 0.67% | 0.67% |
| June | 0.64% | 0.64% | 0.64% | 0.64% |
| July | 0.71% | 0.71% | 0.71% | 0.71% |
| Aug. | 0.56% | 0.56% | 0.56% | 0.56% |
| Sept. | 0.61% | 0.61% | 0.61% | 0.61% |
| Oct. | 0.66% | 0.66% | 0.66% | 0.66% |
| Nov. | 0.68% | 0.68% | 0.68% | 0.68% |
| Dec. | 0.74% | 0.74% | 0.74% | 0.74% |
— Mid Term Rates for 2016 —
| Month | Annual | Semiann. | Quarterly | Monthly |
|---|---|---|---|---|
| Jan. | 1.81% | 1.80% | 1.80% | 1.79% |
| Feb. | 1.82% | 1.81% | 1.81% | 1.80% |
| March | 1.48% | 1.47% | 1.47% | 1.47% |
| April | 1.45% | 1.44% | 1.44% | 1.44% |
| May | 1.43% | 1.42% | 1.42% | 1.42% |
| June | 1.41% | 1.41% | 1.41% | 1.41% |
| July | 1.43% | 1.42% | 1.42% | 1.42% |
| Aug. | 1.18% | 1.18% | 1.18% | 1.18% |
| Sept. | 1.22% | 1.22% | 1.22% | 1.22% |
| Oct. | 1.29% | 1.29% | 1.29% | 1.29% |
| Nov. | 1.33% | 1.33% | 1.33% | 1.33% |
| Dec. | 1.47% | 1.46% | 1.46% | 1.46% |
— Long Term Rates for 2016 —
| Month | Annual | Semiann. | Quarterly | Monthly |
|---|---|---|---|---|
| Jan. | 2.65% | 2.63% | 2.62% | 2.62% |
| Feb. | 2.62% | 2.60% | 2.59% | 2.59% |
| March | 2.33% | 2.32% | 2.31% | 2.31% |
| April | 2.25% | 2.24% | 2.23% | 2.23% |
| May | 2.24% | 2.23% | 2.22% | 2.22% |
| June | 2.24% | 2.23% | 2.22% | 2.22% |
| July | 2.18% | 2.17% | 2.16% | 2.16% |
| Aug. | 1.90% | 1.89% | 1.89% | 1.88% |
| Sept. | 1.90% | 1.89% | 1.89% | 1.88% |
| Oct. | 1.95% | 1.94% | 1.94% | 1.93% |
| Nov. | 2.07% | 2.06% | 2.05% | 2.05% |
| Dec. | 2.26% | 2.25% | 2.24% | 2.24% |
Under Act 95 of 2016 (H.B. 1605), which became effective last Saturday, inactive individual retirement accounts (IRAs) can escheat to the Pennsylvania Treasury even though the account owner is under age 70-1/2 and not required to take distributions.
Under the previous version of section 1301.8 of the Fiscal Code (Act of April 9, 1929, P.L. 343, No. 176), an individual retirement account or self-employed plan would be not be considered to be “abandoned and unclaimed” until at least three years after the owner has attained age 70-1/2, which is the age when mandatory distributions are required under the Internal Revenue Code and regulations.
Under the amended section 1301.8, an IRA will be considered to be “abandoned and unclaimed” three years after the holder has “lost contact” with the account owner, unless the account owner has begun taking distributions, increased or decreased the principal, received a payment of income or principal, or has “otherwise indicated an interest in the account or plan or in other property of the owner in possession, custody or control of the holder.”
The “date on which the holder has lost contact with the owner” is defined by the statute and refers to dates when mail is returned undelivered. And a new section 1301.10A imposes an obligation on holders of unclaimed property to send notices to the owners of the property before sending the unclaimed property to the state.
The new section 1301.8 also refers specifically to attorneys-in-fact as well as fiduciaries generally.
Act 95 is a general revision of the Fiscal Code that was enacted as part of the budget process, and the change to the unclaimed property rules seems to an attempt to increase the collection of abandoned or unclaimed property, which the state apparently considers to be a form of revenue.
Cumberland County has published new fees schedules for the Register of Wills and the Orphans’ Court. Both schedules are effective 1/1/2017.
“Register of Wills Fee Schedule; 21-16-1253,” 46 Pa.B. 7812 (Cumberland Co. 12/17/2016).
“Orphans’ Court Fee Schedule; 21-16-1253,” 46 Pa.B. 7811 (Cumberland Co. 12/17/2016).
An attempted election against a will, made more than six months after probate, is properly dismissed on summary judgment because the claimant must have known whether she and the decedent agreed to be married and so the six month limitation in 20 Pa.C.S. § 2210(b) was not tolled by alleged fraud by the decedent’s children in repeatedly telling her she was merely a “girlfriend.” In re Est. of Tito, 150 A.3d 464, 2016 PA Super 245 (11/15/2016), app. den., 168 A.3d 1274 (2017).
The Orphans’ Court Procedural Rules Committee has released a Notice of Proposed Rulemaking with new proposed rules for guardianship proceedings. “Proposed Amendment of Pa. O.C. Rule 1.5, Proposed Rescission of Pa. O.C. Rules 14.1—14.5 and Orphans’ Court Forms G-01—G-04, Proposed Adoption of New Pa. O.C. Rules 14.1—14.12 and Orphans’ Court Forms G-01—G-07 and Proposed Amendment of the Appendix of Forms,” 46 Pa.B. 7934 (12/17/2016).
The deadline for comments is February 27, 2017.
Mother used Uniform Transfers to Minors custodial funds to purchase a home in her own name. Although children lived in home for at least part of the time, mother was ordered to pay over to the children the entire proceeds of the sale of the home, which was more than the original amount of the custodial accounts. However, award of attorney fees against mother were denied. Werner v. Werner, 2016 PA Super 221 (10/7/2016).
[This article was published in the PBA Real Property, Probate and Trust Law Newsletter, No. 73 (Summer 2013), p. 12.] Pennsylvania inheritance tax law allows a trust for the “sole use” of the surviving spouse to be taxed entirely at…
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The Act of November 2, 2016, No. 116, H.B. 447, adds a new section 514 to the Landlord and Tenant Act of 1951 that allows the personal representative to terminate the decedent’s lease of a residential unit, but only for leases entered into or extended after the effective date of the act, which is January 1, 2017.
The Act of July 8, 2016, No. 79 of 2016 (“Act 79”), enacting S.B. 1104, put into effect a number of changes to the Probate, Estates and Fiduciaries Code (PEF Code, Title 20 of Pa.C.S.) that had been recommended by…
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