Brenlove & Fuller, LLC

Have you formed a limited liability company and elected to treat it as an S Corporation? What does your operating agreement have to say about that? You would not expect your plumber to wire the electricity to your house. Don't expect your lawyer to make your tax elections or your accountant to make sure your formation and operating documents are legally sound. Speak with your accountant and your lawyer and then have them speak to one another.

Even though the probate process should not be feared, especially in Pennsylvania, you expect it to be completed efficiently and effectively. Efficient and effective administration depends heavily on your selection of the proper person to oversee it. That person would be the executor. Sometimes the selection may seem clear and obvious to you. But for what reasons and based on what qualifications? Relationship (e.g., the surviving spouse) and age (e.g., the oldest child) are of...ten the only criteria considered. How someone else will "feel" about the appointment (e.g., a child who might feel entitled to appointment or may feel hurt by not being selected) adds weight. We would suggest other criteria may be more relevant and should be considered first. Some of those criteria run to the actual ability and temperament of the person selected to serve. There are also legal and statutory requirements that, while not impacting the simple right to serve, may effect the ability, efficiency and effectiveness of a person to serve. An attorney with experience in advising individuals when selecting executors, and in advising executors who administer estates, would be of service to you. See more

Probate is merely the process by which your Will is deemed to be valid and your estate (whether or not you have a Will) is settled in accordance with the law. Its fundamental purpose is to ensure what you have goes where (and to whom) you intend. Of course, there is much more to that than can be written in a short post, but the process is not complicated or onerous by intentional design. Can it be avoided? Absolutely. Be careful though, as there is often more to avoidance than one seeking relief may realize. Be careful that the "cure" is not ultimately worse than the ailment.

Happy New Year!!! We have heard it said that everything old is new again. That would be the case with reminding folks to check their beneficiary designations. Most planning mistakes and oversights involve incorrect beneficiary designations associated with retirement plan assets and life insurance policies. We see way too many of these problems that could easily be avoided. Double check your beneficiary designations to make sure they are as you intend (and as you believe).

We came across this article in our travels across the web. Nowhere does it mention the need to plan, but at least one line jumped out that should inspire in this regard, "No longer are worries about longevity and fears of mortality mere hypotheticals. They are 2020's reality." 2020's reality is that our practice is experiencing an increase in activity. It is work we have always done but we are doing more of it now than we have at comparable times in previous years. ... Do those you love a favor and plan for the reality. Granted, 2020 is almost over and good riddance. And we do not want to have to implement your plan prematurely. But believe us, it is better to have a plan that can be implemented than to leave your loved ones to "wing it" when reality is realized. https://www.chron.com//In-pandemic-era-s-isolation-meaning

A lot has happened in 2020. One thing that happened was the enactment of the Pennsylvania Revised Uniform Fiduciary Access to Digital Assets Act ("RUFADAA"). Chances are your old estate planning documents will not have addressed access to your digital assets (e.g., e-mail, photos on the web, files in the cloud, electronic statements, business websites, telephone contacts, etc.) by your fiduciaries (e.g., Agent, Executor, Trustee, etc.). You should update those. In the me...antime, and in addition, you should take advantage and avail yourself of the online tools provided by the custodian of those assets (e.g., Google, Facebook, Twitter, etc.), to provide direction to the custodian for disclosure (or nondisclosure) of those assets to a third person (such as your spouse or your children). It is much smoother and simpler if you do that now rather than leave it to your fiduciaries. Even with RUFADAA and the requisite language in your empowering documents, their ability to access your digital assets may require a Court order. Make it simpler (and less expensive) for them.

Are you a small business owner operating in Pennsylvania under a fictitious name? Have you properly registered that fictitious name with the Commonwealth? If not - did you know that you are not "permitted to maintain any action in any tribunal of this Commonwealth" until you do? Get it done and don't wait.

Do you (or your parents) own stock in a life insurance company such as Prudential or MetLife? A number of folks who own life Prudential or MetLife life insurance policies acquired shares of stock in those companies when the companies demutualized about 20 years ago. If you (or they) do or might, read on. Shareholders would not have gotten paper certificates. Rather, the shares are held by a transfer agent (such as Computershare for Prudential owners) and the shareholders m...ay not even be aware that they own the shares. If you own a Prudential or MetLife policy in particular, and you don't know, it is worth looking into. Even folks who are aware of the ownership may not think much of them because the number of shares (and the dividend payments) are so small. If you own any of these shares in your sole and individual name and you have not already made some arrangement for their transfer on death directly with the transfer agent, contact the transfer agent and request the appropriate forms to title the shares in such a way so that they will be easily transferred at death to the desired beneficiary. For example, the shares could be owned jointly with right of survivorship with the shareholder's spouse, or a beneficiary could be designated to receive them on the shareholder's death. You can also sell them and take the proceeds, but make sure you speak with your tax advisor to understand any tax implications. There are other options as well to explore with your attorney as a part of a larger estate plan. Make sure your attorney knows of them. Do your beneficiaries and your Executor a favor; do not leave these shares in your sole and individual name at death without some means of transferring them outside of probate. We have had to open (and re-open) estates to address the ownership of a comparatively nominal number of shares. The procedures necessary to take ownership of these shares from the transfer agent are driven not only by state probate law but also the procedural requirements of the transfer agent. Not addressing this now, while you are able, could result in thousands of dollars of additional (and unnecessary) expense to your Executor and ultimately your beneficiaries.

Pennsylvania recently passed an act governing access to your digital assets by your agent under your power of attorney, your executor under your Will, the trustee of your trust, etc. We have been working language into our documents for some time in anticipation of this but now it is here. What happens to your digital assets if you are not here? Who can access them? Pull out those old documents and make sure this is specifically addressed.

We still believe in the fundamental honesty of our fellow human beings. It has been our experience that problems in business and legal relationships rarely arise from bad intent or motive. Most still believe in the binding strength of a handshake. The problems that arise usually do so from unrealized expectations that were not effectively communicated or remembered. Reducing agreements to a writing that clearly communicates and properly memorializes the expectations of both parties can tease out tricky issues early and prevent them from causing pain, hardship and damage to those business and legal relationships later.

Q: Can I draft my own estate planning documents? Q: Can I install a new outlet for my electric dryer? A to both: Yes. yes you can.... The better question: Should I? The answer: Probaby not. Give us a call.

Should I gift my house to my child to avoid probate? It's not a silly question. The answer is:... Probably not. An article on point that was sent to one of our attorneys by his father. https://abcnews.go.com//liz-weston-give-adult-kids-house-6

Circumstances have changed significantly and quickly since we first wrote this post. These are uncertain times but there are still things you can control. Review your estate planning arrangements. If you don’t have a plan, make one. Your circumstances are unique but you should have a medical power of attorney, a living will declaration, a financial power of attorney and a Will. Our attorneys focus on personalized estate planning arrangements. We can answer your specific questions. Although we cannot meet face to face at the moment, there is still plenty we can answer and still things we can do to help you. Please call us at 412-221-0640 or email us at [email protected].

I want to make a simple change to my Will. Can I just write that change in with a pen? A: Well - you have to consider the application of the doctrine of "Dependent Relative Revocation" and by its extension the resulting effects of partial or total revocation by cancellation and interlineation . . . you should really call your lawyer.

Striving to comport expectations with reality since 2006.

Are you a Pennsylvania resident? Do you have young children? Do you have a Will, a Living Trust or some other tool, designation or document that directs assets be held in trust for their benefit following your death (or that of your spouse or partner)? If so, is there a separate trust for the benefit of each child or one trust for the benefit of all of them? Pennsylvania just changed the inheritance tax law to provide for a 0% rate to children 21 years of age or younger who inherit from their parents or step-parents (not grandparents, aunts, uncles, siblings, cousins, friends, etc.). It is great news but it may impact your estate planning arrangements and change your way of thinking if you want to maximize this new benefit. Give your lawyer a call.

We are a small transactional law firm located in Bridgeville, Pennsylvania. We are seeking a part-time Receptionist / Assistant whose primary responsibility would be to answer telephones, coordinate the use of conference rooms and greet clients. Additional responsibilities would include some word processing, document management (including copying and scanning), and general office duties. Good communication and organizational skills would be a necessity. Competitive wages paid. Interested candidate should forward a cover letter, resume and three references to Robin L. Rarie, Esquire by email to [email protected]

A well thought out succession plan goes beyond the preparation of a Will. The most commonly overlooked component would be the proper designation of beneficiaries to receive assets that typically are not controlled by a Will, such as a retirement plan asset, an annuity or life insurance policies. Even folks who have taken a comprehensive approach in this regard must keep up to speed with changes that occur. This is a big one and one we, quite frankly, did not think would happen this year, if at all. Take the time to review your arrangements and make sure all still works they way you intend. Talk to a trained and qualified financial advisor, an accountant or a knowledgeable attorney if you have questions or need assistance. https://www.forbes.com//congress-passes-secure-act-at-la/

It is rare that the questions one asks are difficult to answer. It is rather common though that one does not know the questions to ask. For instance: Question: If I am married can I make my own Will if my spouse does not also want to make one? ... Answer: Yes. This answer is not helpful. If you do not know that intuitively or if you don’t know why - it’s because you do not know the question to actually ask.

We often get this question: How much will you charge to put my child’s name on the deed to my house? I would suggest that is not the first question to ask. Instead, one might ask: Should I make a gift of ownership and title my residence jointly with me and my child? ... The answer: Probably not. Maybe. But most likely not. Talk to a lawyer who understands and can plainly explain the benefits and consequences of such a transfer and the very real effect it will have both immediately and thereafter. The cost may be much greater than the fees and expenses of deed preparation and recording. It may be more than one wants to bear.

While not the only, certainly a major focus of our practice is the administration of an estate or a trust following the death of a loved one. We commonly encounter complications arising from casual comments made to our clients by friends, family and others who do not understand the entire procedure. Those comments create confusion that can be avoided if the surviving family members continue to be aware of the basic principles of estate and trust settlement and administration. The first thing to remember is that if you try it yourself you are taking risks that you may not even, and probably will not recognize. We recommend that you retain an attorney you trust and who is able to effectively communicate those basic principles.

Before you designate a minor beneficiary to directly receive life insurance proceeds, retirement plan assets (such as a 401(k) or an Individual Retirement Account), an annuity or the like, please speak to your financial advisor, life insurance agent or attorney. The results of designating a minor directly could be unnecessarily costly and difficult. There are several options available to you and believe us, there is no one size that fits all.

Be careful when "adding names" to a bank account. This is often done on the recommendation of the bank teller for the convenience of permitting a child to assist with check writing; but it can have unintended consequences. For instance, if your child dies before you, you may wind up paying Pennsylvania inheritance tax on your own assets. Upon your death, the assets in the account will usually be distributed directly to that child. It will likely not matter what your Will provides or that you intended that those assets be used for funeral expenses or divided equally among all of your children. Joint ownership of assets can be a useful tool. But it should only be used with a full understanding of all of the potential consequences of use; and with knowledge of other tools that may more effectively accomplish your goals.

Can I sell my house to my child for a dollar? Sure you can. But the difference between the dollar paid and the actual fair market value of the house is a gift (unless of course, you would also be willing to sell it to me for a dollar - in which case give me a call and we can talk). So what have you gained? In Pennsylvania, a gift made within one year of the date of death will be included in the decedent's estate for purposes of the Pennsylvania inheritance tax. If you re...tain a legal right to continue using the residence for the rest of your life, then the full value of the residence is still included in your estate for purposes of the Pennsylvania inheritance tax. Of course, you could always pay rent. And we haven't even touched on the other potential problems, such as the likely loss of a step-up in cost basis and the likely loss of the residential exclusion from capital gain on sale. Nor have we discussed the potential and likely federal estate and gift tax ramifications. Then there is the possibility that the new owner (your kid) will suffer a marital dissolution or personal bankruptcy with "your" residence as an asset. And what if, heaven forbid, your child dies before you? This is not to say that gifting is a bad idea; it is just one of many available tools. But each tool should be considered carefully and the ramifications of its use understood as completely as possible. See more

Have you established an account for the benefit of children or grandchildren under Pennsylvania's Uniform Transfers to Minors Act (a "PUTMA" Account)? If so, I'm sure you know who the custodian is, but do you know what happens to the control of those assets if the custodian dies? There are rules but I would suggest that you not wait to apply them. Designate a successor custodian to handle those matters if something happens to the current custodian. If you do not live in P...ennsylvania, your state probably has similar rules regarding the appointment of custodians and the disposition and control of assets in these types of accounts. You may want to consider the same and should consult an attorney or other appropriate professional. For our friends in foreign lands, being closer to us and our sage advice is just one more benefit of joining us here in the States!! See more

As we enter the New Year we take stock of where we have been and where we are going. And on a more practical note we check the batteries in our fire alarms. Also take a few moments to confirm the designation of beneficiaries on your life insurance policies, annuities and retirement plan assets. The most common error we see in poorly planned estates is the failure to properly designate beneficiaries. The second most common is the failure to properly consider the effect of a designation. (The insurance company usually isn't going to stroke a check directly to your 3 year old child or grandchild - oh, it will get there eventually, but it usually is not clean or cheap). Happy New Year.