Wealth Preservation, Trusts and Estates

Do you have a son or daughter in college or entering college?

If you’d like more information or resources about paying for college, or the tax and gift tax consequences surrounding college educational expenses then read on.

David M. Frees III on When to use a Trust Protector

We know that paying for one or more children’s college educations can be a real hardship for many of our clients and for families in Pennsylvania generally.

So, we periodically try to find articles, resources and information for our clients and our blog readers as a way of adding value, and helping out.

For more information from the IRS and Dave Frees about tax issues surrounding college educations, gifting and loans, you should review IRS FORM 970 at www.PaEstatePlanners.com
There are also numerous considerations in your will, trust, and/or estate planning as children get to college and toward the college years.

Do you have enough life insurance for the next few years of high college expenses?
Should the college money go into trust or into a trust under your will?
Should your spouse be the trustee? What if that caused higher taxes?
Is your power of attorney updated in case of accident or illness rather than death?

If you or a loved one need a review of your will, trust, power of attorney or of any estate planning documents, you can s also receive a complimentary telephone or personal consultation.

To receive your review just call 610-933-8069 and mention FREE WILL REVIEW.

David M. Frees III, Esquire.

IMPORTANT BONUS: For the first twenty readers who call, comment below, or email Dave Frees at dfrees@utbf.com for a free consultation, you will also receive a copy of Paying For College an interview with a college funding expert.

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Frees has received AVVO's highest ranking of 10.0 Superb

On Friday, December 12th 2009 Chester County Attorney David M Frees was a faculty memeber at the Philadelphia Convention Center to present his well attended program: Estate Planning For Families With Young Children.

Frees, who spoke for the PBI (Pennsylvania Bar Institute) was asked to return to the event faculty for his second year of presenting on this topic. Frees, who Chairs the Unruh, Turner, Burke and Frees Trust, estate and Wealth Preservation section, taught lawyers from around the state about the most important topics for lawyers representing families with young children and how to best serve their clients.

Frees’ topics included many of the best practices in estate planning including: how to help families to select guardians, 2) the advantages and disadvantages of trusts vs uniform transfers to minors accounts, 3) who should be the trustee?, 4) At what ages should distributions be made and how should you instruct the trustees when you’re no longer available?, as well as how to use 529 plans for Pennsylvania residents and, 5) should parents consider a sprinkle trust where there is an age gap between the children and until they graduate from college?

Other topics included planning to protect children and grandchildren from divorce and lawsuits.

Many of the lawyers in attendance have returned to see David on this topic for more than one or two sessions knowing that they will get the latest thinking and a real overview of the pros and cons of many different estate planning options to share with their clients.

If you need to update a will, trust, or estate plan, or if you are the parent or grandparent of young children and want your plan to truly reflect your thinking and wishes, please call Donna or Denise in the office of David M. Frees III at 610-933-8069. Mention this press release to receive a free copy of David M. Frees’ recent report: The Ten Most Common Mistakes Executors Make and How To Avoid Them.

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David M. Frees III on 529 Plans

529 Plans come in many shapes, sizes, and colors. And, there is significant variation from state program to state program. If you would like to know the top five reasons to consider a 529 and get a great web based resource to help you to understand and to compare the different plans, then click here for my 529 Plan Article for Pennsylvania Residents.

The article reviews some of the estate planning, gift tax, income tax, and administrative issues involved with selecting a 529 plan.

Let us know your questions in the comments section.

David M. Frees III is a Pennsylvania probate, will, and trust attorney with offices located in West Chester, Malvern, and Phoenixville, Pennsylvania.
David Frees has an AVVO Rating of 9.8 and “Superb”

For a consultation to make sure that your estate planning documents are up to date, and coordinated with your 529 plans, call 610-933-8069. Mention this article to receive a valuable resource, our Enhanced Estate Planning CD.

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