Category Archives for 2022

Common Myths on Gifts and the Federal Estate and Gift Tax


There are certain ideas that become so ingrained in the consumer public’s psyche, that they seem almost impossible to dislodge. One of these in the area of estate and financial planning is the notion that the U.S. federal government prohibits gifting over a certain amount, currently $16,000. Some taxpayers remember when the number was as […]

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Should You Agree to Serve As An Executor?


This column follows up on two prior columns on related subjects. They are “What Does An Executor Do?” published November 16, 2021 and “Reasons To Hire A Lawyer For Probate” published February 8, 2022. Both of them, directly or indirectly raise the question: Should you agree to serve as an Executor in the first place? […]

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Memorial Day – Its History and a Time to Remember


Memorial Day, the last Monday in May, is often remembered as the beginning of the summer season and thought of as a tribute to Veterans. However, Veterans are honored on the day named for them and Memorial Day actually is for those who gave their lives in US Military Service. The history of the holiday […]

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What You Should Do With Your Estate Plan When Getting Divorced


Couples considering divorce have much to deal with without considering the effect on their individual estate plans. Still, in the same way that divorce affects other aspects of their lives it also affects inheritances, handling of funds for minor children, beneficiary designations on death, and titling of assets during life to name a few. As […]

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Senior Communities Are Calling – Is It Time To Answer


I have known people – more than a few – who have said they will never move to a senior community – too many old people there. The observation is not necessarily true these days. There are younger people in senior communities. Or we may have revised our opinion regarding what is “old.” If your […]

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Why Are So Many Pennsylvania Hospitals Closing


On July 11, 2019, notably before the COVID pandemic, the Wharton School of the University of Pennsylvania published an article in their “Knowledge at Wharton” Business Journal aptly titled “Keeping the Lights On: Why Are U.S. Hospitals Closing?” At one point the article discusses rural hospitals but the most obvious example immediately before the authors […]

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Loss Of Institutional Memory Contributes To Things Falling Apart


The so-called “Great Resignation,” the exodus of employees to new jobs, retirement, or unemployment with plans to be made for the future, has been described largely from the perspective of the employee. Reasons given include greater mobility, experiences working from home during COVID, dissatisfaction with pay, or lure of perceived better alternatives. The workforce that […]

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Consider State Benefits For Long Term Care Before Moving


The 2020 U.S. Census report demonstrated some definite trends regarding Americans on the move. In an online article by Laura Mueller in, “Where Are People Moving To? Top Trends for 2022,” the author noted “an overwhelming push toward states in the South and West.” The top 25 cities “seeing the most new residents” include […]

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Pay Attention To Your Non Probate Assets


In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a Will. This leaves unanswered what happens to assets that do not pass by Will – so called non probate assets. The distinction can be critical. In fact, for many, probably most, many more assets pass outside the Will […]

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Gifting Considerations For Now and Later


If you feel you are comfortably situated, a condition you need to examine carefully, you might, especially in later years take a look at gifting either as a way of moving assets out of your estate to charities or to pass some of your wealth on to your children before you die. As with any […]

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Can A Lawyer Practice Out of Place


As lawyers and clients develop relationships and then either the lawyer or the attorney moves out of state a common question arises – can the relationship continue or must it end at the state border? The question can become even more interesting as, when during COVID 19 disruptions, either or both of them operate remotely. […]

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A Committee To Protect Journalists Described


With all of the reporting on horrific circumstances visited on Ukraine in the past weeks a thought came to mind – how are journalists covering these stories supported and protected? At least four journalists are reported as having been killed covering the Russia-Ukraine War. A Ukrainian journalist who was reported missing was released after an […]

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Is It Time To Consider a Roth?

Consider a Roth IRA

Ever since passage of the Setting Every Community for Retirement Enhancement (SECURE) Act by Congress, effective January 1, 2020, financial and estate planners have been struggling with alternatives to allow parents and others who earned their traditional IRA’s and retirement tax qualified funds to pass them on to beneficiaries while mitigating the tax effect. The […]

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Alternatives and Decisions For Older Properties


In the current real estate market you might be confronted with multiple solicitations to sell your home. The flyers, postcards, letters, texts and emails may arrive on a regular basis offering cash deals, quick settlements and no need for repairs. When you live in an older house or one in need of repairs the deals […]

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Build Strategies To Transition a Family Business


While family business owners often want to pass on their business to the next generation or, at least, to sell it for a handsome price to a willing, motivated and competent buyer, the reality is that it is not easy to transfer a business to the next generation or, for that matter, to another corporation […]

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