Archive for the ‘Estate Planning and Administration’ Category

For most people, estate planning requires just a few basic documents. View this video by Attorney Tim Bupp to learn more about why you need a Healthcare Directive or Living Will.A thoughtfully prepared estate plan is not just beneficial to family members, it can provide tremendous peace of mind. An estate plan that includes a Healthcare Directive or Living Will lays out your choices for end-of-life medical treatment. You owe it to yourself and your loved ones to have a plan in place. AttorneyTim chairs the Firm’s Estate Law Section. He provides clients with specialized advice in Estate Planning, Business and tax planning, Real Estate transactions and related … Read more

A durable Power of Attorney is probably the most useful tool that we use in estate planning. There are no substitutes for it. View this video by Attorney Tim Bupp to learn more about why a Power of Attorney is an essential document to have in place.A thoughtfully prepared estate plan that includes a Power of Attorney is not just beneficial to family members, it can provide tremendous peace of mind. You owe it to yourself and your loved ones to have a plan in place. AttorneyTim chairs the Firm’s Estate Law Section. He provides clients with specialized advice in Estate Planning, Business and tax planning, Real … Read more

For most people, estate planning requires just a few basic documents. View this video by Attorney Tim Bupp to learn more about which documents are essential to have in place.A thoughtfully prepared estate plan is not just beneficial to family members, it can provide tremendous peace of mind. An estate plan will ensure that the money and other assets you have worked hard to accumulate are preserved and passed on to those you love and to the charitable organizations you care about. You owe it to yourself and your loved ones to have a plan in place. AttorneyAttorney Tim BuppTim chairs the Firm’s Estate Law Section. … Read more

Among the tax law changes adopted by Congress to address this year’s Coronavirus epidemic is one that will allow you to help others and save on your tax bill at the same time.   The CARES Act, approved by Congress this past Spring, gives taxpayers a dollar-for-dollar tax deduction of up to $300 when they make a documented cash contribution to a qualified charity before December 31, 2020. In order for the cash contribution to be documented you will need a written record of the donation like a receipt from the organization indicating your name, contribution amount and date.  This is an above-the-line deduction, … Read more

Recent legislation will help Pennsylvanians to manage their digital assets safely and efficiently. In Act 72 of 2020, our Legislature amended Pennsylvania’s POA Act to specifically allow an agent under a power-of-attorney to access the principal’s electronic communications and digital assets. The amendment is modeled on language in the Uniform Fiduciary Access to Digital Assets Act, and will assist an agent in navigating the requirements of online services to access and safeguard digital accounts and assets. Our online lives have become increasing complex, and our online estates – in the form of social media accounts, email addresses and communications, passwords, and other … Read more

In welcome news from Harrisburg, Governor Wolf has signed into law Act 97 of 2020, making the emergency provisions of remote on-line notary permanent.  Previously, the remote notary provisions were set to expire sixty days after the expiration of the Governor’s declared emergency regarding the Covid-19 epidemic.  Now Pennsylvanians will continue to benefit from the opportunity to sign remotely-notarized documents from the safety of their own home.   Remote notary is simple, inexpensive and safe.  The signer, notary, and witnesses all join an on-line meeting, and the signing of documents and notarial act are all completed electronically.  The process can take … Read more

Join CGA and the YCEA for a Virtual Leadership Luncheon on Thursday, September 24th at 12 p.m for information on creating trusts for beneficiaries with special needs.CGA Law Firm’s experienced estate law attorney, Tim Bupp, will provide an overview of the types and applications of special needs trusts, as well as the uses of Pa ABLE accounts to assist in estate and personal planning. A special needs trust is a wonderful tool that can empower a person with disability (“PWD”) and their family, by preserving access to benefits while at the same time protecting family assets. Register to reserve your spot today: REGISTER … Read more

In the early days of the COVID-19 epidemic, Pennsylvania Governor Tom Wolf and our Pennsylvania Legislature took action to assure public safety by legalizing on-line remote notary of Pennsylvania legal documents.  This foresighted action by our leaders has allowed Pennsylvanians to complete legal documents, safely and conveniently, without leaving their own home.  However, legalized remote notary is set to expire when the current declaration of emergency ends.  Our Legislature and Governor Wolf should act now to approve Senate Bill 1097, which will make remote notary permanent for all Pennsylvanians.  Remote notary began on March 25, 2020, when Governor Wolf enacted an executive order … Read more

Charitable remainder trusts or “CRTs” are not as commonly utilized as in years past. Declining income tax rates, an increasing federal estate tax exemption, and decreased impact of the charitable donation tax deduction have combined to rob the CRT of some of its effectiveness. However, for philanthropic-minded donors who own the right kind of assets, a CRT can be exactly the right tool to defer or defeat capital gain or income tax, and at the same time create a charitable legacy for the community that sets an example for the family’s next generation.    Tom and Ann are retired and want to make … Read more

A special needs trust is a wonderful tool that can empower a person with disability (“PWD”) and their family, by preserving access to benefits while at the same time protecting family assets.  Family members can create a trust and name a trustee for their loved one so that assets will be held for their benefit and will not interfere with the means-based qualifications for Medicaid or SSI benefits, which are so important in today’s world. But what if the PWD is already in possession of the assets in question, or receives an unexpected inheritance or personal injury settlement?   Owning or receiving such … Read more