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Is a Divorced Parent Residing of Pennsylvania or New Jersey Responsible for His Child’s College Tuition and Expenses? With college tuition at an all-time high, and a struggling job market forcing children to remain living with and reliant on their parents for longer than ever, an issue that has faced increased scrutiny in recent years […]

How Should I Choose My Executor or Trustee? When drafting your estate plan, one of the most important decisions you will make is the selection of the personal representative for your estate and trust. This may seem like a very simple decision; many people will choose their spouse or oldest child by default, but there […]

The Most Common Misunderstandings and Misconceptions about Estate Planning and Administration 1. Estate planning is only for the wealthy. Many people think they only need estate planning when they have significant assets to dispose of at their deaths. However, even for people with less material wealth, there are many reasons to have an estate plan […]

HOW EMPLOYERS CAN PROTECT THEMSELVES FROM THE THEFT OF ELECTRONICALLY STORED CONFIDENTIAL INFORMATION AND DATA BY DEPARTING EMPLOYEES Due to advances in technology, employers need to recognize the need to protect themselves from the theft of electronically stored confidential information and data from departing employees. In a recent survey of employees the Wall Street Journal […]

EMPLOYER LIABILITY FOR CRIMINAL ACTS OF THEIR EMPLOYEES Under Pennsylvania law, an employer can be held liable for the criminal acts of its employees under certain circumstances. Pennsylvania Courts have allowed claims for negligent hiring, retention and supervision of employees relating to an employee’s criminal acts while on the job. Employers must take precautions to […]

WHY YOU MAY NEED LONG TERM CARE INSURANCE MORE THAN YOU THINK When planning for retirement or creating an estate plan, one potential liability that many people forget about is the possibility that they will need long term care in the final years of their life. This is a cost which can significantly deplete a […]

WHY RETIREMENT FUNDS ARE THE ASSET OF CHOICE FOR CHARITABLE GIFTS AT DEATH If you are planning to make a bequest to a charity in your will, you may want to instead consider making a gift of a retirement account to maximize the tax benefits for both your estate and your individual beneficiaries. In 2014, […]

The Rights of a Minority Shareholder Against Oppression Minority shareholders are by definition outnumbered by majority shareholders and, as such, they are targets for shareholder oppression by the majority. However, there are various equitable remedies available to minority shareholders who are subjected to such oppression. I. What is Shareholder Oppression? Typically, shareholder oppression occurs in […]

The Red Flags that Signals Your Estate Plan is Out of Date Many individuals draft their Last Will in their 30’s or 40’s and think they are set for life. At this age, their children are all minors, their only assets are a small or fledgling business, their net estate is the down payment on […]

Pennsylvania Inheritance Tax Exemption for Qualified Family Owned Businesses Beginning July 1, 2013, the transfer at death of certain family owned business interests will be protected from the Pennsylvania inheritance tax. While the Pennsylvania inheritance tax is not nearly as burdensome as the federal estate tax, the tax may still be substantial and its payment […]

The Fundamentals of the Federal Gift and Estate Tax Exclusion Portability Between Spouses “Portability” is a concept under the transfer tax laws of the Internal Revenue Code. Specifically, portability allows a surviving spouse to use a deceased spouse’s unused federal gift and estate tax exclusion (up to $5.34 million in 2014). Under the American Tax […]

FINANCIAL ISSUES IN DIVORCE: The Valuation of Unvested Stock Options in an Equitable Distribution Dissolution Divorce between parties can often be complicated with numerous complex financial issues that need to be resolved. One such complex financial issue that may arise is the valuation and equitable distribution of unvested stock options. As a benefit of employment, […]