Wealth Preservation, Trusts and Estates

It is very important that same sex couples review the estate planning and estate/inheritance tax issues they are confronting.  In Pennsylvania alone there will be a hefty tax consideration.  The

Pennsylvania Inheritance Tax rate on transfers to a surviving same sex partner at the death of the first partner will be 15%.  For transfers of jointly owned assets to the surviving partner there will be a 15% PA Inheritance Tax rate on one-half of the value of the asset.   Take a look at this article for detailed look at the PA Inheritance Tax system and the resulting tax to be paid by the surviving same sex partner. Without proper planning, a surviving same sex partner could find himself or herself with a significant financial burden and unprepared to pay for it.

Please feel free to contact Douglas L. Kaune, Esq. any time at 610-933-8069 or dkaune@utbf.com to discuss your particular Estate Planning matter to determine the appropriate planning for you and your loved ones.
Wills * Trusts * Elder Law * Probate * Asset Protection * Power of Attorney * Estate Planning
Unruh, Turner, Burke & Frees, P.C. is a full service law firm with offices located in Malvern, Phoenixville, West Chester and also serving Philadelphia and other towns in Chester County, Montgomery County, Delaware County, Bucks County, Berks County, Philadelphia County Pennsylvania (PA).

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PA Case Tells Us To Review Tax Clause To Insure that the Correct Party Pays the Inheritance Tax on the assets In Your Estate.  In Re Estate Of Thomas P. Allen, 2008 PA Super 260 Atlantic: 960 A.2d 470 the decedent had a will and the will contained a Tax

Clause intended to determine whether the estate or each individual beneficiary would pay related estate or inheritance taxes.   However, the Tax Clause was poorly drafted and deemed “ambiguous.”  Therefore, the Court chose to rely on PA statutory law 72 P.S. § 9144(f) which requires each beneficiary of both probate and non probate assets to individually pay the tax on what they inherit.  This statutory provision is frequently contrary to the testator’s intent and should not be relied on.  This case further demonstrates the importance of every clause in your will and, in particular, the need to review and revise documents with experienced legal counsel.  Experienced counsel will help insure that your wishes are carried out.

Please feel free to contact Douglas L. Kaune, Esq. any time at 610-933-8069 or dkaune@utbf.com to discuss your particular Estate Planning or Probate matter to determine the appropriate planning for you and your family.
Unruh, Turner, Burke & Frees is a full service law firm with offices located in Malvern, Phoenixville, West Chester, PA.
Wills * Trusts * Elder Law * Probate * Asset Protection * Power of Attorney * Estate Planning

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