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 »
Show You Care — and Save Taxes!
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 »
POA Act Amended to Address Digital Assets
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 »