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Viewing posts categorised under: Estate Plan

Part 7: The ABLE Act – New Developments in Planning for those with Special Needs

Posted by Mary R. LaSota, Esquire in Estate Plan, Special Needs Trusts | 1 comments

21.06.16

(A weekly series of blog posts that discuss trusts designed to benefit those individuals that are physically, mentally or developmentally incapacitated.) In 2014, President Obama signed into law, TheAchieving a Better Life Experience (ABLE) Act, which allows the creation of tax-free savings accounts for indiviudals with disabilities.  This federal law empowers the states to establish and maintain their own type of ABLE account program.  

The Basics: Special Needs Trusts

Posted by Mary R. LaSota, Esquire in Estate Plan, Special Needs Trusts | 1 comments

13.06.16

(Part One in a series of blogs covering special needs trusts) When most individuals think of estate planning, they typically think about creating a Will that stipulates how their property and monies are to be allocated after their death.  Estate planning is actually a complex legal process, and writing a Will is just a small part of it.  

A Series: Special Needs Trusts

Posted by Mary R. LaSota, Esquire in Estate Plan, Special Needs Trusts | 0 comments

12.06.16

This will be a weekly series of blog posts that discuss trusts designed to benefit those individuals that are physically, mentally or developmentally incapacitated.  The goal of this series is to educate the public and provide a resource for those with family members with special needs.  The series of posts will cover the following topics:  

Heirs: Beware of Heir-Hunter Tactics

Posted by Mary R. LaSota, Esquire in Estate Plan, Intestate | 0 comments

06.01.16

Every day unwary individuals receive FedEx or priority/next day envelopes from heir search companies that comb the probate records searching for their next big fish to land.  The heir search companies are driven to be the first to find one or more missing heirs, and then convince those same individuals to sign a finder’s fee contract. The company’s fees can range  

Due on Sale Clauses, Death, Divorce and Living Trusts

Posted by Mary R. LaSota, Esquire in Estate Plan | 0 comments

25.07.15

One of the reasons I continue to churn out legal blogs is usually the process of writing the blog leads me to research new legal concepts. Often the knowledge I reap is immediately applied to a client’s situation. This past week I was writing a blog on living trusts. I’m not a fan of living trusts.  

The Survivor Takes All… NOT ALWAYS

Posted by Mary R. LaSota, Esquire in Estate Plan, Will | 0 comments

Married without a Will in Pennsylvania? Do you think your surviving spouse will inherit everything? Think Again. For those assets that are not disposed of by Will, or by a beneficiary designation (i.e., 401(k), insurance proceeds, IRA) or by survivorship rights (i.e., tenancy by the entirety, joint tenancy with right of survivorship), Pennsylvania’s intestate law may  

All I Need Is A Simple Will

Posted by Mary R. LaSota, Esquire in Estate Plan, Uncategorized, Will | 2 comments

06.02.15

Potential clients often tell me, “All I need is a simple Will.” I always respond, “No Will is simple.”  

Your Estate Plan is a Three-Movement Sonata

Posted by Mary R. LaSota, Esquire in Durable Power of Attorney, Estate Plan, Health Care Directive, Will | 6 comments

02.02.15

You should consider your basic estate plan a three-movement sonata. Like a piece of music written for one or two instruments, your estate plan is written for you and your spouse (or partner). Sometimes your plan will have three documents, sometimes four or even more documents. Like the movements in a sonata, each document can be very different from each other in rhythm and in mood.