Month: December 2015
Wednesday, December 23, 2015
Estate planners love acronyms, and one of the most common when referring to a particular type of trust is QTIP, which stands for Qualified Terminable Interest Property. A QTIP trust provides a way for someone to leave property in... Continue Reading
Thursday, December 17, 2015
The following statistics illustrate the gravity of the need for estate and long term planning for our aging population.
Graying of America
40 million Americans over age 65
13% of the population
25%of these people... Continue Reading
Thursday, December 10, 2015
In a 2-1 decision, the Superior Court recently reversed an earlier ruling of the Philadelphia County Orphans’ Court and determined that a trust may be modified to add a portability clause to enable trust beneficiaries to remove... Continue Reading
Tuesday, December 8, 2015
The IRS issued final portability regulations concerning the election of portability for the deceased spousal annual exclusion (DSUE) amount and the rules for the use of the DSUE amount by the surviving spouse. These regulations,... Continue Reading
Wednesday, December 2, 2015
Although limited liability companies can be an attractive alternative to forming traditional corporations, whether or not an LLC is any more or less vulnerable to having its veil pierced in Pennsylvania remains a gray area in the... Continue Reading