Wealth Preservation, Trusts and Estates

Do you want to be invited to any of our upcoming
executor, trustee, and/or estate planning social and
educational events?

Getting The Invite Is Easy

Here’s How

Each year David Frees and
Douglas Kaune sponsor
a series of events for the
readers of our articles and
for our clients to say thank you.

We appreciate your kindness
in selecting us as your attorneys and for allowing us
to represent your families’ estates and to help in
preparing estate plans to protect you and your heirs.

We also appreciate all of the referrals your friends,
co-workers, professional colleagues, and family members.

And, we know from your questions, that you and many of the
people that you refer need more information about certain
similar topics.

So we have a few up coming events based on your questions
and comments and we’d like to know more so that our winter
and spring events can be customized to your needs.

Upcoming Events:

How Do Estate Auctions Work? – Selling The Family Heirlooms
That Aren’t Really Heirlooms.

Many clients have asked about how
estate auctions really work.

And, over the years we have noticed,
that many families have collected
furniture, art, and other things which,
while holding great financial value,
are not always high in sentimental value.

So, when heirs and executors have distributed the antiques, art
and other personal effects, there are often vary valuable articles
to be sold or liquidated.  And, high end auction houses are
one way to maximize value to the heirs and to protect an executor
from liability.

For that reason, we have arranged, through our connections
at one of America’s oldest auction houses, to host a preview
party for our clients who are interested in how high end estate auctions
really work.

If you’re interested in this topic, in attending the event, or in more
information on estate auctions, please leave a comment below of
email me at dfrees@utbf.com and mention estate auctions in the
subject line. You can also call 610-933-8069 and asked to be
added to the invitation list for the auction event.

Once you’re on the list you’ll be sure to get an invitation.  If you
cannot attend we’ll also be sure to send you additional information
after the event.

Other Possible Events:

1) SeptemberFest – A beer tasting event at the home
of David and Robin Frees.

Last year’s wine tasting event was a huge hit with all who attended.

Every guest received a number of Napa Valley wines to try
and the Frees family hosted an awesome dinner of fish, steaks, and salads.

This year, the SeptemberFest Beer event was canceled due to
the Frees’ Jack Russells who tangled with a rabid
raccoon and the resulting 90 day “quarantine” at the Frees house.

The Frees Hounds befoer the rabid racoon arrived

But, next year we plan a September Beer
Event with a local brew master who will
lecture while you taste.

If you’re interested in this purely social
event – no legal lectures -then leave a
comment below, call Lisa at 610-933-8069
or email David at dfrees@utbf.com to
be added to the list.

Vote for Your Choice:

In addition to the two above, we’re also considering the following
events.  Call, email, or comment below to cast your vote and
to be added to the invitation list.

2) The Estate Tax Law and 2012 -What Happens Now That
Everything You Know About Estate Planning
Might Be Wrong?

This will be a wine and cheese or lunch and learn to
deal with the pending changes at the end of 2012.

3) Free 20 Minute Will Reviews

Hard to imagine lawyers giving away free advice but it’s
true for a limited time and for a limited number of clients.

Throughout the year we sponsor will
review days.

Not sure if your will, trust, or power
of attorney
are still good?

Has a long time passed since
your last update?

You might be fine or you might need an update.  These short
appointments are free.  Call 610-933-8069 to get on the list.

Have another Suggested Event?

There are 3  ways to let us know and to
get on the guest list for any event suggested
and that we decide to host:

1) Leave a comment below,

2) Call 610-933-8069 and ask for Lisa
or

3) E mail David Frees at dfrees@utbf.com with any
question or event suggestions.

We’ll make sure to add you to
the invitation list for any and all of our
events that you want to suggest and/or attend.

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* To find out about this free program for our clients read our article Have You Ever Lost Your Keys?

* To simplify your life join our Lost Keys Program today.

* If you are a client or have an appointment with us ask about our Lost Keys Program, it is simple and FREE

David M. Frees III

dfrees@utbf.com

Douglas L. Kaune

dkaune@utbf.com

610-933-8069

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Need a quick overview of the federal estate tax to make this crazy situation make sense? I found a good overview that just takes a few minutes. Since you’re probably from Pennsylvania (most of our clients are from South Eastern Pennsylvania) just ignore the last fifteen seconds on the Ohio inheritance tax. I’ll write a little overview for you on the Pennsylvania Inheritance tax down below.

But for now, click here for more on the current state of the federal estate tax.

The Pennsylvania inheritance tax overview: By: David M. Frees III, Esquire

David M Frees III Federal Estate Tax Video

Transfers on death to a spouse in Pennsylvania are taxed at a zero percent tax rate.

Transfers to children, grandchildren and linear descendants are taxed at 4.5% for Pennsylvania inheritance tax purposes.

Transfers to brothers and sisters are taxed at 12%.

Transfers to charities are taxed at a zero percent rate.

Transfers to all others are taxed at 15%.

There are many nuances, discounts, deductions, and specifics that cannot be covered here. If you’re an executor, make sure to get good advice before filing a form 1500 Pennsylvania Inheritance Tax Form.

P.S. Here’s another view on the federal estate tax and the problems created by congressional inaction.

David M. Frees III, Esquire practices law with Unruh, Turner, Burke and Frees with offices in Phoenixville, Malvern and West Chester, Pennsylvania. Mr Frees Chairs the Trust and Estate Section of the firm with clients throughout the Main Line, Devon, Wayne, Exton, and surrounding areas.

610-933-8069
dfrees@utbf.com

P.P.S. Want the estate tax and inheritance tax secrets that they don’t want you to know? Do you know the pros and cons of using joint accounts in estate planning? Call for a complimentary consultation or for a free will update. Mention this code avidFrees for the free consult. with David or one of the attorneys at Unruh, Turner, Burke and Frees.

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As fewer and fewer young Americans choose to enter into marriage, the issues of estate planning become more complicated. Since married couples in Pennsylvania benefit from a zero tax rate on inheritances, and on protections for the surviving spouse under the state intestate law, that do not exist for unmarried couples, making sure that you have done your planning is more important than ever.

For more information on estate planning for unmarried couple click here.

David M. Frees III
David Frees is a local lawyer practicing in the areas of trust, estate, estate planning and asset protection law. He has law offices in Malvern, Phoenixville, and West Chester. His firm is Unruh, Turner, Burke and Frees.

To update your estate plan, will, trust or living will please call 610-933-8069 for a consultation by phone or in person with David Frees. Pennsylvania residents can qualify for a free consultation and a reduced fee by mentioning this code: UTBF2010.

Frees has received AVVO's highest ranking of 10.0 Superb

Communities Served: Malvern, Phoenixville, Downingtown, Exton, Collegeville, Devon, Berwyn, Ardmore, Wayne, Chester Springs, Edgemont, Willistown Township, Paoli, and many surrounding areas.

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Frees has received AVVO's highest ranking of 10.0 Superb

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.

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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

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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.

Pleas leave your comments and questions below and register for the RSS feed to get alerts when we update the blog.

David M. Frees III, Esquire

Follow David Frees on Twitter for even more up to the minuet information.
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