Comprehensive Elder Law Services Addressing a Full Range of Legal Issues
When doing long term care planning, a child may ask their parents to transfer the family home to him or her for $1. The child may think that this is a purchase, but it is considered to be a gift to the child. A Deed will need to be prepared and signed by the parents...
When doing long term care planning, many people ask about transferring their home to a child for $1. Such a transfer is a gift, a very large gift. The parents plan to continue living in the home. Is the gift a good idea? There are a number of factors to take into...
Last Wills and Testaments may leave property to siblings, nieces, nephews, cousins or even non-family members. These inheritances are subject to Pennsylvania inheritance taxes. Siblings pay a 12% inheritance tax while nieces, nephews, cousins or non-family members...
Whether assets are inherited under Wills or by intestacy (without Wills), when someone passes away in Pennsylvania, there may be inheritance taxes due to the Commonwealth. The amount, if any, that is due depends on the value of the decedent's assets on the date of...
When a loved one who has a Will passes away, an estate may need to be opened. When must an Estate be opened? If the decedent had assets solely in his or her own name that do not have named beneficiaries, the Will may need to be filed at the Register of Wills office...
Part of long term care planning may involve the decision that a loved one can no longer adequately be taken care of at home and needs to be placed in a nursing home. This is one of the hardest decisions to make since no one really wants to go to a nursing home, and...
Long Term Care Planning usually involves the review of how to pay for long term care in the event of disability and/or incapacity, including a discussion of Medicaid or Medical Assistance. Why do this? Well, the average cost of nursing home care in 2014 in...
Estate planning, including the preparation of Wills and Powers of Attorney, is a way to be prepared and to plan ahead for life's eventualities, whether it is disability, incapacity or death. It is a good idea to review your family's financial situation and insurance....
If you go to a bank, or other type of financial institution, to add Agents under Powers of Attorney to your account, do not let the bank convince you to set up a joint account. Why not? As an attorney, I am frequently asked this question. Well, Agents under Powers of...