When an individual drafts a Last Will and Testament, he or she (known as the testator) will usually specify the person or entity whom they have chosen to act as the executor of the will. When the testator passes on, it is the... Continue Reading
When a person passes away and leaves behind an estate, the total amount of the estate’s value is subject to the federal estate tax. The percentage of the estate tax varies each year, and typically is applied directly to the... Continue Reading
The Uniform Trust Code (“UTC”) was enacted in 2000 in order to provide states with a model guidance on trust law. Pennsylvania adopted a customized version of the UTC and enacted the Uniform Trust Act (“UTA”) in 2006.... Continue Reading
The Montgomery County Orphans’ Court held that trust modification agreements made by the settlor and all beneficiaries without court approval were invalid to the extent they granted the beneficiaries the power to remove and... Continue Reading
Spouses cannot control actions of the surviving spouse from the grave. In fact, most states will even strike down, instructions placed in prenuptial agreements that give such instructions, given that the agreement becomes void... Continue Reading