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February 06, 2012

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Estate Planning News

IRS Plans To Reduce Estate Tax Lawyers

Washington, D.C. - The Internal Revenue Service (IRS) plans to reduce by nearly half the number of tax attorneys assigned to audit estate tax returns. By the end of September 2006, under the Bush Administration’s plan, the IRS will terminate 157 estate tax lawyers and 17 support staff.

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Did You Know?

A "Living Trust" can be used to hold legal title to and provide a mechanism to manage your property
You can select the person or persons you want -- often even yourself -- as the Trustee(s) to carry out the instructions you want in the Trust and name one or more Successor Trustees to take over if you cannot. Unlike a Will, a Trust usually becomes effective immediately, continues in force during your lifetime even in the event of your incapacity, and continues after your death. Most Trusts are "revocable" which allows the person who creates the Trust to make future changes, modifications and even to terminate it.

	Newsroom
	Latest news about Financial & Estate Planning in Pennsylvania and nationwide: U.S. House Votes To Reform Estate Tax The U.S. House of Representatives voted today to reform estate taxes by passing the Permanent Estate Tax Relief Act (H.R. 5638). Also know... Read more > Preparing For Retirement: It's Not Just About Saving March 1, 2006 (Washington, DC ) –At the 2006 National Summit on Retirement Savings, trade groups representing life insurance and empl... Read more > The First Step In Estate Planning Inventory everything you own and assign a value to each asset. Here's a list to get you started. You may need to delete some categories or add othe... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Family Limited Partnership

Definition:
A legal partnership agreement between members of a family for the management and control of property for the benefit of family members. Sometimes used to minimize transfer taxes.

Interlineation

Definition:
Something written in-between; often a change to a typed document that is made by crossing out words and entering in replacement words. Never change an executed will or trust by interlineation.

Gain

Definition:
The difference between the Tax Basis (the amount originally paid for property with certain adjustments) and the amount received for the property when it was sold.

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Estate Planning Resources

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Pennsylvania Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Aliquippa
Allentown
Bensalem
Bethlehem
Butler
Carlisle
Chambersburg
Chester
Coatesville
Coraopolis
Downingtown
Doylestown
East Stroudsburg
Easton
Greensburg
Hanover
Havertown
Hazleton
Irwin
Lancaster
Lansdale

Lebanon
Lititz
Media
Morrisville
New Castle
New Kensington
Norristown
Philadelphia
Pittsburgh
Pottstown
Southampton
State College
Uniontown
Upper Darby
Warminster
Washington
West Chester
Wilkes Barre
Williamsport
York

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