Choosing an Executor in Pennsylvania | Executor Compensation and Fees
Consider Compensation When Choosing an Executor in Pennsylvania When choosing an executor for your Pennsylvania estate, keep in mind that the executor is entitled to compensation for the work that they do on behalf of the administration of the estate. Executor Fees in PA Generally Include: 2.5% of the assets of the estate that …
Co-Fiduciaries as Executors of Pennsylvania Estate or Guardianship
Co-Fiduciaries as the Executors of an Estate, Trust, or Guardianship in Pennsylvania In some instances, you may have difficulty selecting an executor of your estate or successor trustee for your trust or guardianship, or you may want to have a family member involved but still have the assurance of utilizing a bank or trust company. …
Pennsylvania Trusts: Different Types for Spouses and Children
5 Different Types of Trusts for Pennsylvania Spouses and Children There are a number of different trust law options you can pursue in Pennsylvania if you want to leave your children their inheritance with additional protections. A bypass or family trust (alternatively known as a “credit shelter” trust) enables you to leave a …
What is the executor’s job? Understanding Pennsylvania Probate Process
What is the executor’s job? Understanding Pennsylvania probate process Once selected, an estate executor’s job is to oversee and manage the administration of a decedent’s estate. The time and effort of performing this task to completion varies based on the: size and complexity of the estate; presence of a will; and number of …
Executor Responsibilities in Pennsylvania Probate | Estate Planning
Executor Responsibilities in Pennsylvania Probate In Pennsylvania probate, an executor is essentially responsible for: finalizing someone’s financial and legal affairs; protecting property and assets; ensuring that debts and taxes are paid; and transferring the remainder to those who are entitled to it. Although it is not legally required that executors have a financial …
Pennsylvania Probate and Executor Responsibilities | Estate Planning
Executor Responsibilities in Pennsylvania Probate After the owner of an estate dies, an executor is appointed or selected to manage certain responsibilities of the estate, and such executor responsibilities can include: setting up an estate bank account that will hold money owed to the Testator, such as paychecks or stock dividends; utilizing estate funds to …
Contesting a Will or Estate Plan | Pennsylvania Estate Planning
When Creating Your Will, Get Help to Avoid Contestation in Pennsylvania When you are creating a will, you might not be thinking about whether or not one of your beneficiaries will try to contest it, but the fact of the matter is that this happens quite often. Sometimes it’s a matter of a beneficiary …
2011 Gift Tax Returns Are Due Now!
2011 Gift Tax Returns Or Extensions Are Due Now By: David M Frees III, JD Chairman – Trust Estates and Wealth Preservation Failure to file a gift tax return can subject a tax payer or their family to serious problems both during lifetime and at death (when the IRS often detects the failure to file). …
2011 Gift Tax Returns Are Due Now!
Gifts to children and grandchildren 1n 2011 may require you to file a gift tax return...
GRATs Used To Perfection By Facebook Creators
It is being reported that in 2008 Mark Zuckerberg and Dustin Moskovitz transferred a significant portion of their Facebook stock into a Grantor Retained Annuity Trust (GRAT). Facebook had not yet “gone public” and therefore the value of the stock was far below what it would be following the initial public offering (IPO). The Facebook …