Wealth Preservation, Trusts and Estates

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

By Douglas L. Kaune, Esquire Pennsylvania Attorney
Wills * Trusts * Estates * Estate Planning * Asset Protection Planning
Malvern, Phoenixville, and West Chester Law Offices Chester, Montgomery, Delaware, Philadelphia, Berks and Bucks County

Hmm, if I did not already have a will and trust, I would have run out to meet with an estate lawyer to commission a last will after I read the title words to this blog posting. Thanks to my profession, I happen to recognize the need for a cohesive estate plan to minimize tax implications, avoid family disputes, protect beneficiaries from improper spending, creditors, lawsuits and divorce. So many people either have an out dated will or no will at all and are “too busy” in their lives to update their planning.
As this recent Wall Street Journal Article reminded me, Benjamin Franklin was a walking billboard for Estate Planning Attorneys everywhere when he said, “but in this world nothing can be said to be certain, except death and taxes.” As I read his words, I imagined Ben flying his kite in the thunderstorm waiting for lightning to strike and I was not thinking about the discovery of electricity. Instead, the probate attorney in me wondered if Mr. Franklin had heeded his own words about death and taxes by having a properly drafted Last Will and Testament. After all, the lightning could have struck more than just the dangling key. After a little research I was able to locate Benjamin Franklin’s last will and testament online so click here to see how Ben protected his family, children, lands, assets and wealth from creditors, taxes and government interference.
Ben was right, not just about death and taxes, but also that he needed that last will and testament.
by Douglas L. Kaune, Esquire
Estate Planning & Administration, Wills, Trusts, Asset Protection, Elder Law
Unruh, Turner, Burke & Frees, P.C.
Phoenixville, Malvern, West Chester PA
dkaune@utbf.com PH: 610-933-8069