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Pennsylvania Asset Protection & Estate Planning Blog Will & Trust Attorney Blog For Unruh, Turner, Burke & Frees

This blog, which is regularly updated by our estate planning attorneys, strives to keep our clients and potiential clients informed, engaged, and connected to the latest news, trends, and current events regarding Penn. asset protection, inheritance dispute resolution, executor and trustee information, will & trust law, and elder trust law. Learn more abou the estate law issues that affect you most in these short, personal, and candid legal blog posts.

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8/31/2010
David M. Frees, III
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The Federal Estate Tax Morass Continues - What Do You Do With Your Pennsylvania Estate Plan?

Pennsylvanians, like most americans want clear answers as to how to revise their estate plans. Yet congress continues to fail to pass a federal estate tax bill. Attorney David Frees review the most recent pronouncements by the IRS.

Category: TAXES and News

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7/24/2010
David M. Frees, III
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Another Federal Estate Tax Bill Is Dead - What Should You Do Now?

Will, trust and estate lawyer David Frees on the latest federal estate tax (or death tax)motion fails. New analysis about what to do with your will and trust.

Category: TAXES and News

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6/17/2010
David M. Frees, III
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Senate Action Urged on Federal Estate Tax

Finally, someone in the senate is asking that Estate Tax action be added to the legislative agenda. without some action, only one million dollars will be sheltered from tax after January 1, 2011.

Category: TAXES and News

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6/17/2010
David M. Frees, III
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Congress Is Moving Toward Eliination of Short Term GRATs

GRATs or Grantor Retained Annuity Trusts have been saving families millions of dollars of estate taxes. Now, they are under siege in Congress....

Category: TAXES and News

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5/24/2010
David M. Frees, III
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Another View From Pennsylvania on The Federal Estate Tax and You

We bring you a variety of views and information on the federal estate tax and how it affects you as a Pennsylvania resident

Category: TAXES and News

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2/23/2010
David M. Frees, III
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Real Ideas and Information on An Estate Tax Situation that is Crazy

Estate and trust lawyer David M. Frees III on real information and strategies to use during this period of estate tax uncertainty and into next year when the estate tax returns with a vengeance.

Category: TAXES and News

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1/6/2010
David M. Frees, III
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Great Review Of New Year Estate Planning Issues and Dangers

CBS has published a great review of estate tax changes, and dangers lurking if you fail to plan.

Category: TAXES and News

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1/3/2010
David M. Frees, III
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Forget the Federal Etate Tax - According To Russia We Have Bigger Problems

While this blog usually focuses on estate planning, asset protection, how to administer estates and trusts, and related topics, we felt compelled to report that Russian academics are predicting the fall of the US by autumn. That makes retroactive taxes seem tame.

Category: TAXES and News

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1/1/2010
David M. Frees, III
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Married To A Wealthy Spouse? Under the New Law You Might Find Yourself Disinherited

Under the estate tax mess left by Congress, a spouse might accidentally be disinherited according to the Wall Street Journal and Pennsylvania estate and trust lawyer David M. Frees III

Category: TAXES and News

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12/28/2009
David M. Frees, III
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Quick Overview of Estate Tax News and Analysis of How Estate Tax Now Affects You

A quick link to news stories and analysis on the lapse of the federal estate tax and how the change in 2010 affects you. And, the dirty little secret of why you might owe more tax not less.

Category: TAXES and News

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12/28/2009
David M. Frees, III
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Estate Tax Mess - The Times Says "Americans Deserve Better"

The New York Times Opinion piece on the mess in the federal estate tax situation.

Category: TAXES and News

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11/29/2009
David M. Frees, III
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News You Need To Know On The Federal Estate Tax and HB 3905 and HB 4154

Are you worried about the federal estate tax changes? Up to date news on proposed changes to the federal estate tax and a brief review of the effects of these two proposed bills on the federal estate tax changes.

Category: TAXES and News

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10/5/2009
David M. Frees, III
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More IRA Tax Relief From The IRS for Those Over 70 with Required Minimum Distributions

If you are over fifty nine and a half, you can begin to take distributions from your IRA without penalty.  However, once you reach 70 1/2 years of age, you must  begin to take mandatory minimum distributions called Required Minimum Distributions (RMD). A required minimum distribution (RMD) is the smallest amount that must be withdrawn from an IRA beginning in that year that you turn 70 1/2. As many of you may know, in 2008, Congress waived the RMD rule for the year 2009. 

This change in the law was meant to provide some relief for IRA account owners who had lost substantial value in their IRA investments.  However, many taxpayers unintentionally took their RMD’s and were not aware of the suspension for 2009.

In such cases, you would normally, have only 60 days to roll the money over back into your retirement plan and if you waited more than 60 days you would not be permitted to return the funds to the plan. 

The good news is that the IRS just issued Notice 2009-82 which allows those who have already received a 2009 RMDs this year and missed the 60 day rollover mark to roll the money back their IRA accounts.

This new rule temporarily allows individuals until the later of Nov. 30, 2009, or 60 days after the date the distribution was received, to roll over the distribution.  It is important to note that the 1 rollover per 12 month period rule continues to apply.

Thanks to Doug McGray of Ion Advisors for this bit of important news.
David M. Frees III
David M. Frees III, Esquire
Unruh, Turner, Burke and Frees
Offices in Malvern, Phoenixville, and West Chester
Serving Chester County, Montgomery County, Deleware County,
Philadelphia, Berks, Buck, and Lancaster Counties

610-933-8069

Category: TAXES and News

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