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Updating Valuations for Buy-Sell Agreements The purpose of a Buy-Sell Agreement is to provide for the triggering events upon which one shareholder, member or partner in a business has the right or option to buy another shareholder, member or partner’s interest in the business. The triggering events usually include the death, disability, bankruptcy, incompetency, sale […]

CHANGING YOUR DOMICILE FROM PENNSYLVANIA OR NEW JERSEY TO FLORIDA TO REDUCE YOUR TAXES If you are a Pennsylvania or New Jersey resident and spend a large portion of each year in Florida, you may want to consider making Florida your legal domicile. There are several possible tax advantages to establishing Florida as your legal […]

Important Updates to Pennsylvania’s Unclaimed Property Laws And Your Retirement Plan Accounts A new law recently went into effect in Pennsylvania that will change when property is considered to be “abandoned” and required to be transferred to the Pennsylvania State Treasury. The updates to the law establish requirements for a formal, written due diligence notice […]

TAX ALERTS: New Regulations May Limit Or Eliminate Valuation Discounts For Transfers Of Interests In Family Held Entities The use of Intentionally Defective Grantor Trusts (IDGT), Limited Liability Companies (LLCs) and Family Limited Partnerships (FLPs) are clever and efficient ways to transfer family wealth to your children or future generations, remove assets from your estate, […]

CREATIVE COMMERCIAL FINANCING TECHNIQUES This is an update of a newsletter that was published five years ago. In recent years, even with the markets beginning to open up and the national and global economy bouncing back, privately held companies have had difficulty obtaining appropriate financing for startups or expansions. Many traditional banking channels still refuse […]

USING GUN TRUSTS TO TRANSFER AND HOLD FIREARMS One of the less commonly encountered issues the personal representative of an estate will encounter is the transfer of firearms from a decedent’s estate to the beneficiaries of the estate. However, when a personal representative is administering an estate that owns firearms, it is likely that there […]

ENSURING THAT ESTATE PLANNING GIFTS TO YOUR CHILDREN ARE NOT SUBJECT TO EQUITABLE DISTRIBUTION IN HIS OR HER DIVORCE A recent case from the Pennsylvania Superior Court has highlighted the need to make sure that estate planning gifts you make to your children are not later subject to equitable distribution during a child’s divorce. Currently, […]

Lessons Learned From The Past Recession For Trends In The New Real Estate Market To an extent, the most recent recession is reshaping the resurgence of the commercial and residential real estate market with fresh eyes, new trends, new legislation and other banking and business changes to help avoid a similar real estate market crash […]

HOW DO I ENTER A DECEDENT’S SAFE DEPOSIT BOX? Regardless of whether you are accessing a decedent’s safe deposit box as the personal representative (the Executor or Administrator) of the decedent’s estate or as a joint owner of the safe deposit box, in Pennsylvania you must comply with certain legal requirements when accessing the safe […]

HOW INCORRECT TITLING OF ACCOUNTS AND BENEFICIARY DESIGNATIONS CAN RUIN YOUR ESTATE PLAN Regardless of whether you have executed a will or just plan to let your estate pass according to the 3 laws of intestacy, the titling of your property and updating of your beneficiary designations can completely derail your intended plans for how […]

A CHILD’S RESPONSIBILITY FOR MEDICAL OR NURSING HOME COSTS OF HIS/HER PARENTS Whether you can be held responsible for the medical or nursing home costs of your parents depends on where you live. Although more than half of the states in the United States have laws on the books saying that children can be held […]

The Negotiation Of A Business Or Commercial Real Estate Loan With the relatively new Dodd-Frank borrowing restrictions passed by Congress, lenders being extremely rigid and uncompromising with borrowers, and the ever growing number of restrictive and rigid terms within loan documents in recent years, it is sometimes difficult to obtain a business or commercial real […]