Estate planning in Pennsylvania /
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| Corporate Author: | |
|---|---|
| Other Authors: | , |
| Format: | Book |
| Language: | English |
| Published: |
Mechanicsburg, Pennsylvania :
PBI Press,
2019
|
| Edition: | Fifth edition |
| Series: | PBI (Series) ;
no. 2019-10422 |
| Subjects: | |
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Table of Contents:
- Interviewing the client
- Introduction
- Starting the process
- Collecting the information
- Proposed methodology for conducting the interview
- Thinking ahead-who will be sued?
- Checklist of items to consider reviewing and/or retaining
- Appendiced
- Ethical issues
- Introduction and overview
- Diligence and care
- Communications with the client
- Client confidences
- Conflicts of interest generally
- Identifying the client
- Subsequent representation
- Multiple clients
- Self-interest of the lawyer
- The drafting lawyer as fiduciary
- Fees
- Drafting the will
- Requirements for a valid will
- Anatomy of the will:" Putting it all together
- Amending the plan: Codicil or new will
- Advanced planning for the complex estate plan: Marital deduction and credit-shelter planning
- Drafting the trust
- Introduction and scope
- Revocable trust: What is it?
- Reason for using a revocable trust
- Overview of the four-over will and revocable trust arrangement
- Basic revocable trust provisions
- Revocable trust as a will substitute
- General considerations in drafting irrevocable trusts
- Tax planning
- Overview of the federal transfer tax system
- Determining property subject to estate tax
- Portability
- Estate tax marital deduction
- Selecting and funding marital deduction formulas
- Other deductions from the gross estate
- Taxation of gifts
- Generation-skipping transfer tax
- Special valuation rules
- Disclaimers
- Saving taxes with charitable gifts
- The Pennsylvania transfer tax system
- Estate planning for closely held businesses
- Shareholder or buy/sell agreements
- The use of corporate redemptions
- Elections to defer payment of federal estate tax
- Section 754 election: Purchases and inheritances of partnership interests
- Section 2032A: Special-use valuation
- Estate and gift tax issues applicable to family-owned businesses
- Succession planning (non-tax) issues
- Business opportunity shifting
- Succession planning for the Owner of S Corporation Stock
- Additional strategies for selling business interests to family members
- Charitable planning techniques
- Using employee stock ownership plans (ESOPs)
- Asset protection issues
- Estate planning using charitable gifts
- Working with a charity as a partner
- Common-sense assessment matters
- A survey of charitable giving techniques
- Charitable remainder unitrusts
- Gift restrictions
- Estate planning for nontraditional couples
- Introduction
- Should unmarried couples consider marriage?
- Actions now-married same-sex couples should consider
- Concerns for unmarried couples
- The domestic partner
- Planning with cohabitation agreements
- Basic estate planning
- Planning with wills
- Planning with inter vivos trusts
- Planning with inter vivos trusts-Use of general powers of appointment
- Special opportunities using traditional tax planning trusts
- Not-so-obvious issues for the estate planner
- {Powers of attorney
- Ethical considerations in planning for the nontraditional couple
- Power of attorney, Health care power of attorney, Living will, and mental health care power of attorney
- Introduction
- Powers of attorney
- Living wills and out-of-hospital nonresuscitation
- Health-care powers, generally
- Mental health declarations and mental health power of attorney
- Medicaid payment for long-term care
- In general
- Sources of law
- Applying for Medicaid for long-term care services
- Nonfinancial eligibility criteria
- Financial requirements for Medicaid payment for long-term care
- Medicaid-financed home- and community-based programs
- Medicaid estate recovery
- Filial support liability and Medicaid ineligibility
- Choosing fiduciaries
- Fiduciaries generally
- Standard of care applicable to fiduciaries
- Fiduciary choices available
- Considerations in selecting fiduciaries
- Considerations in selecting guardians of minor children
- Considerations in selecting agents under powers of attorney
- Considerations in selecting agents under health care powers of attorney and advance directives for health care powers of attorney and advance directives for health care
- Considerations in selecting successor fiduciaries
- Transferring assets outside of probate
- Introduction
- Nature of nonprobate assets
- Estate plan integration
- Jointly owned property
- Trust accounts and transfer-on-death accounts
- Life insurance and annuities
- Qualified plan and retirement benefits
- Powers of Appointment
- Augmented estate and the spouse's elective share
- Execution and safekeeping of documents
- Overview
- Review of documents before execution
- Legal requirements for execution of a will
- Proof of execution of wills
- Document execution ceremony
- Execution of other estate planning documents
- Safekeeping of the documents
- Terminating the representation
- General overview
- How to terminate the representation
- Continuing duties to clients after execution of estate planning documents
- Conclusion