Posts Tagged ‘estate planning documents’

From Attorney Tim Bupp, chair of the CGA Law Firm Estate Law practice group. In this biweekly column, Attorney Tim Bupp shares with you lessons and perspectives from his twenty-five years as an estate planner with CGA Law Firm. Everyone has heard of a Last Will and Testament and knows that a Will is an important piece of an estate plan. But is it the most important piece? Let’s discuss the power of attorney – an underappreciated but vital part of an estate plan. 1.        What is a power of attorney? A power of attorney is a document where you… read more »

From Attorney Tim Bupp, chair of the CGA Law Firm Estate Law section. In this biweekly column, Attorney Tim Bupp shares with you lessons and perspectives from his twenty-five years as an estate planner with CGA Law Firm. I am asked about the potential benefits of living trusts nearly every day. My answer: in specific situations, a living trust can provide clarity and benefit to your estate plan. However, as with nearly every other estate planning tool, one size does not fit all; not everyone will benefit from the extra effort and expense that go into creating and maintaining such… read more »

With the holiday season in full swing, it’s likely you’ll see your parents, grandparents, siblings, and other family members in the next few weeks. In addition to food, songs, and other merrymaking, this is also the perfect time to speak with your family about more serious topics, such as their estate plan. How To Bring Up The Topic: Let your family member/s know you’d like to discuss their estate plan during a less-hectic part of the holidays. During your conversation, ask how up-to-date their documents are, and if changes or updates need to be made. These could include new additions… read more »

Your wedding is a time of bliss and endless possibilities for a bright future together. While planning for your perfect day, don’t forget to protect those you love, as you start your new life together. Marriage is the right time to ensure your estate documents are in order. As you prepare for your future, take the time to meet with your estate attorney. Putting into place your vital documents like Wills, powers-of-attorneys, and health care directives will help provide you with the peace of mind that you will need for your perfect day. A Will is an essential document that… read more »

Accidents are the leading cause of death for young adults, and a quarter of a million Americans between the ages of 18 and 25 are hospitalized with non-lethal injuries each year. Can you imagine being unable to help or to make decisions for your child? It could happen if you fail to plan. When your child turns 18, your child transforms into an adult in the eyes of the law. Overnight, you no longer have direct access to personal information or the right to make decisions for your child, who may still depend on you. The laws that once protected your child… read more »

The world of estate planning and trust administration is fraught with a variety of landmines, and only the diligent can detect and avoid them consistently. An estate planning professional’s behavior and performance may be judged unethical or even illegal in a given circumstance even if he or she is exceptionally knowledgeable about the substantive law. In this teleconference, we will delve into the following issues and concerns to which both lawyers and fiduciaries would be well-advised to pay close attention: Duty to File Amended Tax Returns Recognizing and Steering Clear of Tax Return Preparer Penalties Hazards for a Lawyer in… read more »

Asset protection planning is important to an increasingly broad range of clients – both for themselves and for their children. Creditors seem to be more aggressive these days, and more clients are becoming conscious of their potential to wake up one day in a vulnerable financial situation. Estate planners should offer their clients the opportunity to discuss, early in the estate planning process, the advantages of and available techniques by which to secure at least some measure of asset protection. This teleconference will focus on the following: Avoiding Fraudulent or Voidable Transfers Using Tenancy by the Entireties Form of Ownership… read more »

Write your family a “love letter” and give them the gift of time, love and clarity. Ameriprise Financial Services, LLC, invites you to a seminar event. Learn more about an indispensable planning tool that helps organize the paper trail tied to your life. It gives you a voice, and your family the confidence in knowing “what to do” if faced with your sudden incapacitation or death. During this complimentary session, we’ll discuss planning tools and the importance of working with your family and advisor to document your wishes using: • The Surviving Spouse Checklist • The Family Love Letter •… read more »

Article by: Attorney Timothy Bupp and Paralegal Cori Spisak Earlier this week, our Legislature acted to make Pennsylvanians safer by strengthening the use of remote notarization in the Commonwealth. Act 15 of 2020, signed by Governor Wolf on April 20, gives statutory support to the Governor’s previous Executive Orders on remote notary. Notaries can now assist with the signing, witnessing and notarization of legal documents without the signors physically appearing before the notary agent.  Act 15 also expands the use of remote notary to a wider range of documents and to signors outside of the boundaries of our Commonwealth. These protections will… read more »

Written by Attorney Timothy J. Bupp, CELA; CGA Estate Practice Chairman The COVID-19 emergency has created unwanted stress for those of us in quarantine.  The risk of illness, particularly for older persons, has caused concern regarding whether we can get the legal help we need.   Review estate planning documents Many have taken this time to rethink their estate planning documents, including wills, health care directives, and powers of attorney.  Unfortunately, during this uncertain time when having these documents in place has never been more important, the shelter-in-place order makes it more difficult than ever to arrange the necessary meetings with professionals to prepare,… read more »