Wealth Preservation, Trusts and Estates

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What if I leave the old formula will in place is my spouse disinherited?

If you need more information on any or all of these click here to read this great review of the current situation by CBS.

Here is the WSJ Smart Money Article. Click here to read more.

David M. Frees III
Attorney David Frees is available at 610-933-8069

For an appointment to update your estate planning, or for consultation regarding
duties as an executor or trustee, please call Donna, Denise, or Beth at 610-933-8069.

The length of the probate process in Pennsylvania (PA) or other states varies greatly from estate to estate. The determining factors include the assets involved in the estate, the experience of the Executor/Administrator and counsel and the ease in dealing with the beneficiaries. Contrary to common belief, the process is rarely impacted by the actual probate court requirements which can be accomplished timely if the other factors are favorable. Some of the most common causes for a delay in the estate administration process are:
1. Beneficiaries and family members who are not getting along with each other or with the Executor. The psychological and family related issues are sometimes the most difficult to respolve.
2. Hard to value assets such as closely held business interests or vacant land.
3. Assets which are difficult to sell such as real estate or business assets.
4. Complex estate tax and inheritance tax considerations.
You can review some of the probate requirements at the Chester County Register of Wills Website.
Let us know if you have any questions about the probate process, inheritance or estate taxes or other improtant estate administration issues.

Douglas L. Kaune
dkaune@utbf.com
610-933-8069

At Unruh Turner Burke and Frees, the Trust Estates and Wealth Preservation section has developed a number of valuable resources for our clients to both understand and to manage their federal estate tax liability. We represent many affluent and moderately affluent clients and families who want to minimize or eliminate this tax, reduce inheritance taxes, pass on vacation homes, real estate and family businesses.

And one of our most popular reports – How To Be an Executor In Pennsylvania is available to any clients or those considering our firm. Just call the office and you can receive this valuable resource. 610-933-8069 and ask for our Executor Paper. It contains over 13 pages of valuable information about the duties of executors in Pennsylvania and how to avoid getting into trouble or litigation. In fact, many executors don’t know that they are personally liable for many of their acts.

We also try to alert you to other resources that you can use as a savvy consumer of legal services. And if you enjoyed our brief articles or news alerts on Federal Estate Taxes, then you might also want the IRS consumer guide to the federal estate tax and related publications. These publications are available for download at no charge just by clicking this link.

If this guide raises more questions than it answers, you are not alone but it is a valuable resource, very complete and a great place to learn more. And, we are happy to answer any of your questions and to keep you advised of the expected changes in this vast body of law as those changes occur.

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David M. Frees III, Esquire

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