Unruh, Turner, Burke & Frees Blog

Selecting an Estate Executor | Pennsylvania Probate Attorney

Sat, 19 May 2012 08:00:00 GMT

Pennsylvania Probate: Selecting an Estate Executor
Executor responsibilities should not be taken lightly, so when you are selecting an estate executor in Pennsylvania, keep in mind that the person you choose will be paying off your debts and distributing the remaining assets to those who stand to inherit it as per your will or intestate.

Theoretically, you can choose anyone to be your executor (within reason – minors, for instance, cannot be executors), and many select a family member or heir, which can be an effective choice because the executor fee is generally waived. Unless the chosen executor poses a threat to the interests of the estate and the heirs, the decedent’s choice of executor is generally honored.

Ideally, you should choose an executor who is trustworthy, aware of his or her relevant duties, and willing to undertake them with the highest standard of honesty and impartiality. Although you do not need the services of an attorney to select an executor, if you have been selected as one, you will likely require Pennsylvania probate attorney services.

Consulting a Pennsylvania Probate Attorney

If you are contesting the selection of an estate executor, have been selected to handle executor responsibilities, or have not yet drafted a will to manage your estate, you should reach out to one of the dedicated probate and estate management attorneys at Unruh, Turner, Burke & Frees – 1-610-933-8069.

Executor Responsibilities Lawsuit | Pennsylvania Probate Attorney

Wed, 16 May 2012 08:00:00 GMT

Pennsylvania Probate: Suing an Estate Executor Who Fails To Uphold Executor Responsibilities
In Pennsylvania, if executor responsibilities are not upheld throughout the probate process, the executor can be held liable for any damages incurred as the result of a breach in responsibilities.

The executor has a fiduciary duty to the heirs and to the estate; the highest duty of good faith and fair dealing is expected, and any evidence of fraud, embezzlement, or breach of duty should automatically signal that a Pennsylvania probate attorney is needed.

Your attorney will help you determine whether the complaint is against the executor or the estate, and whether or not you have grounds to file claim. You must have a pecuniary interest – that is, you stand to inherit some property or assets from the estate – in order to be eligible to file litigation against the management of the estate. Adults may sue on behalf of minors or legally incompetent heirs.

Consulting a Pennsylvania Probate Attorney

If you decide to go forward with litigation, it’s vital that you collect as much evidence and documentation of the breach and make it available to your Pennsylvania probate attorney as soon as possible. Matters concerning probate and executor responsibilities are highly complex, both legally and financially, so it’s strongly advised that you consult a lawyer as soon as you begin to consider legal action. Call today – 1-610-933-8069.

Estate Planning For Blended Families In Pennsylvania

Sat, 25 Feb 2012 08:00:00 GMT

Are You Part of A "Blended Family?"

Do you and your spouse have one or more children from prior
relationships and/or marriages?

If so, then your estate planning is much more complicated that you probably think.

And, it's much more important to grapple with the issues raised by blended families
because the failure to plan, and to execute effective documents can be truly
destructive to your heirs. In fact, the failure to plan properly can leave
your heirs without healthy relationships and without an inheritance.

Did you know that the children of blended families are much more likely to
start litigating over your trust or estate planning?

And, with litigation, and the costs of estate and trust litigation both rising,
it is more important than ever to prevent families from squandering the inheritance that
you leave.

So what are some of the issues faced by families with children from prior marriages
and/or relationships?

The issues are numerous and can be confusing. But in this article we offer
thoughts and solutions for a few of the most common issues.

Finding The Right Lawyer and Avoiding The Confusion

First, many blended families find the estate planning process to be too daunting and
complicated. Since they don't understand the issues and don't want to do wills
where disagreements over their children might surface, they simply avoid the issues.

So, when starting a plan it's essential that you identify a lawyer that works regularly
with blended families, who understands the issues that you face and can describe the
alternatives to you clearly and effectively. You need to understand the options before you
can intelligently solve the problems.

Understanding The "Conflicts"

It's also important to note, that when a couple with children from multiple
marriages seeks the advice of an estate planning lawyer, that they also consider
the potential conflicts of interest. It is acceptable for one lawyer to represent
a husband and wife, or an unmarried couple with children but, there are ethical
issues and limitations that must be addressed.

Make sure to discuss this with any lawyer at your first meeting and make sure that
they explain the limitations of their representation and the ethical issues
involved.

While you may both want to work with one lawyer it's essential that you
discuss the pros and cons of that representation.

Clarify What Your Children Really Need

Next, because blended families might have children of radically different ages, it is
also essential to consider how this might effect your estate plan.

If younger children of a more recent marriage haven't yet attended college, but
children from a prior marriage have (and where you paid the tuition) how can you
account for this in your estate planning?

Be sure to discuss sprinkle trusts (which allow a trustee to give younger heirs
the money for college and then can divide the trust equally among all children at an
appropriate age).

Sprinkle Trusts, Life Insurance and More Options

Another problem sometimes occurs when all of the assets are put in trust for the
younger children and older children might never receive an inheritance.

This increases the odds of a challenge and alternatives and the use of life insurance
to provide some transfer to older chiilren at their parent's death can be considered.

Obviously, there are many more issues faced by blended families. To have your particular
questions considered, email attorney David Frees at dfrees@utbf.com.

Pre Order Your Copy Of This Vital Resource For Blended Families

To order an advance copy of David's upcoming resource for blended families:

Blended Families: Saving The Family, Preserving The Assets - Unique Estate and
Trust Planning Issues When You Have Children of Multiple Marriages

Just call Lisa Snyder at 610-933-8069 to request a copy when it's published.

More issues to consider and discuss with your estate planning attorney?

Should I have a non contest clause?

Should I require my heirs to mediate problems?

Who should be executor, trustee, and power of attorney to prevent disputes?

Who gets to appoint the guardian for my younger children?

How much should we tell the kids about our planning?

Should we consider a family meeting?

Thank you for being a reader and subscriber. Look for more on blended
families to come.

David M. Frees, III JD
610-933-8069
dfrees@utbf.com

Questions About Power of Attorney - Do Have The Right Answers ?

Sun, 12 Feb 2012 08:00:00 GMT

If you have questions about powers of attorney, when to get one and how to be sure that you have the right type, then this brief video
will answer those questions. It's filled with answers to your questions and is designed to save you and your
family time, money, fees and resources.

Having a valid power of attorney customized to your property and your needs can be one of the most vital aspects of
any estate plan and no estate plan is complete without one or more such powers.

Attorney David Frees can be reached at 610-933-8069 or
by email at dfrees@utbf.com

Is There A Mistake In Your Will?

Wed, 08 Feb 2012 08:00:00 GMT

What Happens If Your Will is Not Executed Properly?

As with many things in life a small mistake can lead to big consequences.

A last will and testament is a powerful document and an important part of any estate plan that lets you control what happens to all of your possessions, including real estate and securities after you are gone. A will as part of an overall plan can save you and your family money, time, and headaches and can be created with only a small and reasonable time commitment. But, beware that an improperly created or executed will can take all that away leaving it up to the state or a judge to decide what will happen next.

In Pennsylvania, wills can be handwritten, they can be done online, and an attorney with or without estate planning or administration experience can draft them. They can be prepared as part of an overall estate plan to protect your estate from excessive probate fees, and inheritance or estate taxes. Likewise when properly prepared they can protect an heir from lawsuits and divorce or protect a child or grandchild with special needs. This type of planning is typically done with a lawyer who focuses his whole practice in the area of estate planning.

It is important to understand that there is a set of laws governing wills and trusts in each state and a will must comply and work under these often confusing and ever changing rules and guidelines. Make sure you know what you are paying for. Some very simple estate planning can be done effectively by an attorney with basic experience and may even be done cheaper online. A more complex estate plan is probably well worth a trip to an experienced estate planning and estate administration attorney.

For example, if you are a professional, a corporation, executive, own a family business, real estate and or a vacation home then the added expense of using a sophisticated estate plan can save your heirs many times over the cost of that plan.

Click here and take our Estate Plan Evaluator to see what you need to do today.

In a recent Pennsylvania case the court saved a will from being invalid by a small mistake. In the Bosley Estate the testator signed his will at the end in the presence of two attesting witnesses, with notarization. But the attestation clause said the witnesses had seen testator’s initials written by him on the margin of each of the first four pages of the will. The testator had in fact not initialed the first four pages of his will. But under Pennsylvania law a clause that follows after the testator’s signature is not valid so even though it stated a mistake in the will that could lead to a big consequence of voiding the will the court chose to allow the will by invalidating the clause. Bosley Estate (O.C. Div. York), 1 Fiduc. Rep. 3d 185.

Do you know what Pennsylvania requires for a will to be valid?

Does your will contain a simple mistake that could lead it to be invalid?

Do you want to leave your will open to the courts interpretation or do you want your will to implement your directions and interpretations?

The Estate of Bosley case offers us an insight into a simple mistake that could have led to disastrous consequences to help us remember that a last will and testament however simple it may be needs to comply with Pennsylvania law and can more easily than you think be invalidated once you are gone.

Do your homework before you write a will or seek legal advice to make sure this important document stands the test of time.

What Happens In A Nursing Home When Your Not There?

Wed, 25 Jan 2012 08:00:00 GMT

Many of us do not like to think about the elder care of our parents, friends, or even ourselves. But it is an important component of any comprehensive estate plan to factor in elder care and the many varied options involved in the care and maintenance of a loved one.

Here is just one example of what can go wrong in a nursing home or assisted living facility when you do not have an elder care plan in place that addresses accountability and oversight.

In a recent Pennsylvania elder law case a 95-year-old resident, Edna, at an elder care facility, was allegedly taken advantage of by one of the staff members. A power of attorney prepared by the staff member was executed at the nursing home by Edna naming the staff member Edna’s agent. That staff member then took over $ 220,000. The employee was an administrative assistant at the home and at the time was financially troubled and in bankruptcy.

The court surcharged the staff member $220,000 that she had taken and removed her as executrix and ruled the power of attorney null and void. The court went on to allow the resident to sue the facility for improperly authorizing a financially troubled employee to act as the agent for Edna who was in her 90’s with no family or friends located near the home. Houck Estate (O.C. Div. Phila.), 1 Fiduc. Rep. 3d 279.

This is a sad case of what can happen to you or a loved one entering a care facility without an elder care plan.

* It is essential to establish a will, power of attorney, medical power of attorney, and living will in advance of the need for nursing care.

*It is important to research the facilities and care needs of your loved one.

* It is important to let the provider know your needs and desires.

* It is also critical to stay informed as to your loved ones care. Even if you are not able to be a physical presence if you make sure you are called when there is a change in care and to also be active in calling and checking in can help you avoid Edna’s situation.

Make sure you have the right documents, and a system in place for you or your loved one that can be implemented when the time is needed that addresses oversight and accountability of the elder care that is being provided.

Family Meetings -An Estate Planning Secret of The Affluent and Super Wealthy That Can Benefit Your Family Right Now

Tue, 24 Jan 2012 08:00:00 GMT

Do you want to protect and pass on a family business or investments and
other assets, family values, and the strategies that have allowed you to
build and protect your wealth?

Would you also like to protect those assets for a surviving spouse, your
heirs and beneficiariesso that they are not lost to lawsuits, divorces or bad
relationships, and from taxation?

If any of these goals appeals to you, then doing a comprehensive estate
plan, including a will and/or trust, is the first and most essential step.

But, that is where many affluent families, blended families, family business
owners and investors stop. This often leaves heirs with a cold and legal plan
that seems complex, that they don't understand, and that they fail to maximize.

The secret that many affluent families have used throughout history is the
family meeting.

The family meeting can be as simple as a one or two hour session following
the execution of a will or more comprehensive estate plan, up to a half day
or full day session of education and training for spouses and family members.

What is covered in a family meeting?

These meetings often review the estate plan, trusts, who will act as trustees,
trust protectors and executors. The various jobs are described and some training
can be provided.

Family members and executors and trustees can also be introduced to other advisers,
and can be taught how to minimize taxes and fees, as well as how to protect
business interests and other assets from divorces and law suits.

Since affluent families often have complicated estate plans, the goals and purposes of those
plans can be reviewed and the underlying family values, business information and other
important factors can be taught and reviewed.
Sometimes, family meetings can be used to make sure that the next generation also
understands and creates estate planning for themselves.

Who runs a family meeting?

As a practicing attorney helping affluent families for many years, I have often facilitated
family meetings.

I also often work with the family to invite other advisers in the team of advisers and
occasionally,

I will also arrange for appraisers, succession planning advisers and other professionals to
be involved when particular long term strategies, family businesses, and/or extensive
real estate or life insurance is involved in the plan.

Who participates in family meetings?

There is no one answer. It does depend on what you want to accomplish. For example,
a family meeting designed to provide for the succession of one generation in a family
business might focus onthe members of the family directly involved in the change of
management and ownership.

A family meeting designed to teach the next generation how the estate plan will
work, how to minimize taxes and fees, and how to protect assets from creditors and
law suits might have all of the family members involved.

If some children or grandchildren are too young to benefit from certain information
at the family meeting, there might be multiple sessions for each age group.
College aged children or grandchildren might be educated in certain business and
investment strategies, while their parents are educated about the trusts being used to
protect assets from federal estate taxes or about their roles as executors, trust
protectors, or trustees.

How much does it cost to hold a family meeting?

Again, the costs can very very significantly. However, they often range from a few
thousand dollars to tens of thousands of dollars.

However, families that use the family meeting as an essential part of their estate
planning believe that these up front costs can pay massive dividends.

How?

Let me give you an example. If one family dispute can be avoided by careful planning
and education, the family might save hundreds of thousands of dollars in legal fees
incurred in an unnecessary will contest.

If assets are maintained in a trust for a son or daughter who understands the strategy
and later gets divorced, they might have otherwise lost 50% or more of those assets.
In short, the family meeting can be as simple or complex as you desire. It can involve
as much or as little specific financial disclosure as you see fit.

However, once you have an effecticve estate plan in place, few techniques can
help to maximize the effectiveness of that plan and minimize costs and taxes
as well as the family meeting.

If a family meeting is so expensive, why don't families run
their own for free?

Well, some do. However, the issues related to transfering fasmily wealth,
a family business, and/or other investments can be very complex. In addition, most family
meetings are designed to make sure that the next generation undertsands varoius trusts
and estate planning tools, and how to get the most out of non family advisers at
the best possible rates.

Family meeting are also often designed to flush out, and to deal with family problems, and
disputes in advance. For that reason, having skilled advisers who know how to mediate and
resolve such problems is essential for many families and can save many times the costs
of having such a team present.

If you want to know more about family meetings....
In the coming months, we will be hosting several webinars dedicated to helping
clients find the specific type of family meeting that is best for them.

So, if you:
have a family business

hold substantial investments

intent to protect a spouse and/or children from remarriage and/or
divorce claims

intend to sell a business and use liquidity to fund trusts for
family members

are doing or planning to do exit planning or succession planning

want to teach and preserve family values across multiple generations

have business, investment or life strategies that you want to
teach to future generations

have a blended family and want to protect against legal challenges
or family disputes

Then call 610-933-8069 and ask to be added to our registration list for our family
meeting webinars and programs.
If you're ready to create a customized family meeting either locally, or at a family
vacation destination, please call or email David Frees for more information.

Contesting A Will or Estate Plan Under Pennsylvania Law

Wed, 19 Oct 2011 08:00:00 GMT

An estate plan that includes a will helps you pass on your assets in a way that reflects your values and your specific desires. But, an estate plan that includes one or more trusts may also offer many additional benefits, including protection from a will challenge.

A thorough estate plan can:

•Protect your assets from the high costs of nursing home or long-term care

•Manage your financial and legal affairs if you become disabled

•Designate individuals that you have selected, (rather than some court appointed lawyer) to make medical and financial decisions for you when you cannot

•Provide for your family in the way YOU desire rather than according to state law

•Minimize estate and inheritance tax liability

So taking the time, and spending the money to create a well-constructed estate plan and will should be a priority. But, there is a catch. A will is easy to challenge under Pennsylvania law. Now it's hard to win the challenge but it's easy to file and start the challenge. For that reason, your will, trust and related estate planning documents need to be written properly, carefully executed, and coordinated with one another in order to accomplish your estate planning goals and to survive a contest or attack.

The Ways People Contest a Will:

There are many ways people contest a will, in full or in part, by saying it was made under undue influence and or duress, incapacity (not being well enough to create or change the will) fraud or mistake.

The challenge of a will or any estate planning (such as a trust, or a beneficiary designation) can be very expensive, not only for the person or people contesting the will, but also for your estate and thus your heirs. If the court does find your will has been improperly made or changed all of or part of the will will be invalid and unenforceable.

If a will is voided, the estate will be distributed under Pennsylvania's intestate laws, which may distribute your estate in a way you would not have wanted. If only part of the will is void then the share from the voided distribution is dumped into the residuary estate (this is the remaining assets not specifically mentioned in the will) and dispersed according to the will.

In order to avoid a successful will challenge, it's therefore important for you, and for your estate planning lawyer and advisers to understand and to avoid the common ways in which a will is challenged.

Below are a few of the assertions made by people challenging estate planning documents and actions:

Undue Influence:

Undue influence could be present when a trusted person influences the testator (the person writing the will) to make a will that benefits him. For that reason, your lawyer should make sure that they meet directly and privately with you and that they document that you have the required capacity to execute a will.

Incapacity:

Incapacity means that the testator lacks the physical or mental ability to manage one's affairs and disqualifies that person from being able to write or change their will.

Fraud:

This could happen if the person making the will is presented with information that made them change their mind about whom to leave their property to. For example, if Sue tells her dad that her sister, Jane, was a thief and trying to get him to change his will so everything would go to her, even though Jane really wasn't a thief, Sue may have committed fraud.

For this reason, the adviser should again confirm that you are acting on your own and not based on incorrect information.

Mistake:

A mistake can be found when it is proven that the testator didn't intend to include certain provisions in a will or if the testator signed the wrong will. When the mistake involves a signature, a court may revise a will that was signed by mistake, such as when it's clear that a husband and wife intended to make reciprocal wills but signed the wrong original documents.

Tortuous Interference with an Inheritance:

Instead of contesting a will or claiming it's invalid for any reason, there's another way to interfere with an estate. A lawsuit can be filed against the person who's receiving the property that they think should be theirs when the creator of the will is still alive.

This tortuous interference requires proof that the defendant (person being sued) interfered with the creation of the will for any reason.

Solutions:

So how do you avoid all of these problems that directly interfere with your intent as to what you want done with your real and personal property, your assets, and your instructions as to nursing home care, tax avoidance, among many other things.

A No Contest Clause:

When your will is created you can include a "no contest" clause to stop anyone from challenging your wishes. If a beneficiary (someone being given something under the will like a spouse or child) contests the will they will get nothing at all. If the beneficiary chooses not to contest they get what the will directs them to have. Make sure your state laws enforce no contest clauses.

This strategy doesn't work as well when you are completely omitting a person under a will since they still have nothing to lose. For that reason, some testators include a gift which will be lost if the will is challenged. In cases where there is no gift, be careful to document that you are intentionally omitting one or more heirs.

A Memo with Your Will:

An informal and non binding writing along with your will can offer guidance and an explanation for why you have set up your will in a particular way. Often this can help avoid a will contest because the beneficiaries and the court (if there is a will contest) will have an understanding of why your will is the way it is.

Family Meeting:

A family meeting can also be a great way to explain your overall estate plan to your family, the law firm you would like to administer the will and where the estate plan is located. A family meeting is a place for discussion and an understanding of your intentions before you are gone.

Selecting The Right Advisers:

A truly effective trust and estate planning lawyer will make sure to ask you the right questions, to document the answers, and will make certain that all of the formalities required by Pennsylvania law are being followed in order to prevail in a will contest.

For example, I ask every client - every time - a series of questions before the witnesses and notary that document that document that the person executing the will has testamentary capacity, that they understand the documents, reviewed them and many more factors.

When selecting your counsel you should make sure that they will take precautions to protect your estate plan and to prevent successful challenges.

In conclusion, an estate plan that includes a will, trust, and beneficiary designation(s) is only valuable if it works.

Make sure your will is as contest proof as it can be and accurately reflects your values and wishes as to your assets, nursing home care, distribution schemes among the many other things your will does.

For an appointment to review or update your estate plan call - Dave Frees at 1-888-573-7407.

For our new report on estate planning: Enhanced Estate Planning For Affluent Families click here.

What You Need to Know about Beneficiary Designations

Mon, 17 Oct 2011 08:00:00 GMT

In many cases a will or living trust has no effect on some of your important assets such as life insurance and a 401 (k) account. Your beneficiary designations control who receives those assets.
A comprehensive estate plan includes beneficiary designations that fall outside of your will and trust but are part of your overall estate plan. You want each part of your plan to work effectively and efficiently to save your estate the most money and fulfill your intentions.

5 Things Everyone Should Know About Beneficiary Designations

1. Make Sure You Name Beneficiaries. The assets that pass through beneficiary designations are not subject to probate. If you fail to name a beneficiary the asset becomes part of your probate estate and could lead to additional delays or administrative costs. Name both primary and contingent beneficiaries so you have a back up beneficiary in case the primary beneficiary dies before you. Be sure to talk with your estate planning attorney about your beneficiary designations. It is important to understand how all the different parts of your estate plan work as a whole.

2. Update After Life Events. Review and update your beneficiary designations after life events such as birth, death, marriage and or divorce. You do not want an ex-spouse to receive your assets. This is also a great time to update your estate plan including your will and trust so that you have the right people in the right places to receive your assets.

3. Understand Consequences of Naming Specific Beneficiaries for Particular Assets. Lets say you have two accounts and name each of your children under one of the accounts. The accounts may grow differently and one beneficiary will get more and one will get less. Make sure what you intend is actually what will happen.

4. Use Caution Naming a Trust as Beneficiary. Consult your attorney before naming a trust as beneficiary for things like an IRA and qualified retirement plans or annuities. The governing document or tax law may require accelerated taxable distributions. In certain circumstances this may make sense like when your beneficiaries are minor children and if you want to control access to the funds. Be sure to understand the tax implications of doing this.

5. When You Change Jobs Consider Rollover Options. For a non-spousal beneficiary of a qualified retirement plan or profit sharing plan if he or she does not transfer the assets within a year of death the distribution options will be limited to those in the qualified plan and they may not be able to stretch out distributions over their life expectancy. If this occurs the beneficiary will have to keep in contact with your former employer and their human relations department to manage assets and withdrawals. Rolling assets into an IRA can simplify this process and allow the beneficiary more investment options and more control.
Beneficiary designations, while not in your will or trust, are an important component of your comprehensive estate plan. Your estate plan, as a whole should minimize your tax and other liabilities and maximize your individual intentions. Beneficiary designations, like a will and trust, are important to make these things happen.

For an appointment to review or update your estate plan call Dave Frees at 1-888-573-7407

For our Executor report: The Ten Most Common Mistakes Executors Make... and How to Avoid Them click here.

Our Mac and Cheese Recipe

Fri, 30 Sep 2011 08:00:00 GMT

Dave Frees Here. If you're reading this, you probably found it in our first edition of the 2011 client newsletter. And, I want to thank you for reading the newsletter. In every edition we will feature a great recipe from my recipe box.

I've been making my 3 children and my wife Robin this recipe (which can be done with or without breadcrumbs) since our children were little. It's fast, reliable, delicious and satisfying.

Ingredients

7 ounces macaroni
1/4 cup butter
3 tablespoons all-purpose flour
2 cups milk (you can add a splash or two of cream if you dare)
1/2 (4 ounces of an 8 ounce) package of cream cheese (Philadelphia Brand is the best)
1/2 teaspoon salt
1/2 teaspoon black pepper
1 teaspoon Dijon mustard
2 cups shredded Cheddar cheese (pre shredded sharp is ok to speed the process)
1 cup dry bread crumbs (optional and my family prefers it creamy without the breadcrumbs)
2 tablespoons butter
2 tablespoons chopped fresh parsley (fresh is essential)

Directions

Preheat oven to 400 degrees F
Bring a large pot of water to a boil and add a bit of salt.
Add macaroni pasta and cook for 8 to 10 minutes or until al dente; drain.
In a 3-quart saucepan over medium heat, melt butter and stir in flour to make a roux.
Cook for about 1 minute, until smooth and bubbly; stirring occasionally.
Mix in milk, cream cheese, salt, pepper, and Dijon mustard.
Continue cooking until sauce is thickened.
Add cooked macaroni and Cheddar cheese.
Pour into 2-quart casserole dish.
OPTIONAL: In small bowl mix together breadcrumbs, butter and parsley; spread over macaroni and cheese. Bake for 15 to 20 minutes or until golden brown and heated through.

Serving

I recommend serving it with iced tea or a cool red wine like Chianti. Serve hot, with wilted spinach or an iced cold salad of red leaf lettuce.

For more recipes call 610-933-8069 and register to be on my client list for the newsletter or register on this page.
To contact Dave Frees email dfrees@utbf.com

The Marcellus Shale Debate

Mon, 26 Sep 2011 08:00:00 GMT

"Drill Baby Drill"

The Marcellus Shale gas formation is rich in natural gas resources. It is one of the largest shale regions in the United States. Marcellus shale is estimated to be the second largest natural gas find in the world. It stretches across New York, Pennsylvania, West Virginia, Ohio and Maryland.
The 400 year-old rock Marcellus shale formation is estimated to contain more than 410 trillion cubic feet of natural gas and could supply U.S. consumers' energy needs for hundreds of years.
A study by the Manhattan Institute found that each well drilled generates about $4 million in economic opportunities from shale development.
Energy companies working in the Marcellus Shale operate in strict compliance with the rules and regulations set out by federal, state and local agencies in every step of the planning, drilling and completion process.
In the beginning of September a major conference on Marcellus Shale was held in Philadelphia where former PA Governor Tom Ridge said many of the concerns about the environmental and public health impacts of drilling are "phony hysteria."

To find out the latest news, resources, and information read The Marcellus Shale Resource Page

"No Fracking Way"

During the Marcellus Shale conference in Philadelphia in the beginning of this month several hundred environmental activists and homeowners packed the sidewalks outside the natural gas industry conference and called for a moratorium on drilling, which they said was contaminating water, harming animals and creating a public health hazard.
Nearly 4,000 wells have been drilled in the state over the past few years.
Marcellus gas is extracted with a drilling technique known as hydraulic fracturing, or fracking, in which millions of gallons of water, along with sand and chemical additives are injected at high pressure to crack open gas-bearing rock. Oil and gas companies say the process is safe, but environmentalists have expressed concerns about groundwater contamination from chemicals used to get to the gas.
Some homeowners participating in the rally in Philadelphia said drilling has contaminated the aquifer near their homes, poisoning their water with barium and other chemicals, killing animals and presenting a public health hazard.
The Chesapeake Energy Corporation explains that their water comes from many sources including surface water bodies such as ponds, lakes, and streams, municipal authorities, groundwater wells, "produced water" (water that comes to the surface during oil and gas production), and re-cycled water from other hydraulic fracturing jobs.
Click here to read the list of what chemicals are used in hydro fracturing in the Pennsylvania's Marcellus Shale. The chemicals are used to fracture the rock with millions of gallons of water and the wastewater is either treated after the process is complete or is disposed of according to state regulation.
http://fracfocus.org/chemical-use/what-chemicals-are-used

Do you think hydro fracturing, fracking, is a safe way to get natural gas from the Marcellus shale and if it is not what should we, our government and the industry do?

Executor of A Pennsylvania Estate? Video Resources, Fees, Disputes, Mistakes and Duties of An Executor

Mon, 26 Sep 2011 08:00:00 GMT

If you have been named as an executor or co-executor of an estate in Pennsylvania, then this video on executor resources and executor mistakes will help you to avoid personal liability.

Executors can face many obstacles. And, there are often many
questions to be answered quickly to avoid problems. These can
include, but aren't limited to some of the following:

Is the property and auto owned by the decedent properly insured?

Do you need to change the locks on the home?

Is there a more recent will?

Is there a safe deposit box and what do I need to do about it?

Can I give out property before the will is probated?

What can I be sued for?

How do I discuss my fee with family members who might not
understand how time consuming g the executor's job can be?

Executors face literally hundreds of questions and they often
face them in the first few days of an estate administration.

To learn more about the job, how to manage it, and the liability
exposure and how to minimize it be sure to down load david Frees'
book The Ten Most Common Mistakes that Executor's Make and How To Avoid Them.

David can be reached at 610-933-8069 or toll free at 888-573-7407

New Video Reveals The Most Overlooked Estate Planning Document

Mon, 26 Sep 2011 08:00:00 GMT

This Most Overlooked Estate Planning Document Is Also
One Of The Most Important AND The Most Dangerous ...

The Durable Power of Attorney

Why do you need a durable power of attorney and what are the
dangers?

This brief new video gets you thinking.

Married?

Without a durable power of attorney, when one spouse becomes incapacitated,
you may not be able to sell or refinance your house even if you're married.

Single?

Who can handle your IRA home, or investments if you're
incapacitated?

So it sounds like we should all have a customized and well drafted durable power of attorney.

Yet, if the power of attorney is released too soon, a divorcing spouse or
unscrupulous agent (the person with the power) might be able to
do undesirable things.

So, how do you balance these issues and protect yourself with this vital
estate planning tool?

Watch this new video for more information.

David Frees can be reached for questions about an effective state of the art
will, trust, durable and medical powers of attorney and living wills at any one of his firm offices located throughout Chester County and serving Chester, Montgomery, Berks, Bucks and Delaware counties.

David Frees: 610-933-8069.

Should I Make Gifts Now As Part Of My Estate Planning?

Sun, 28 Aug 2011 08:00:00 GMT

An inter vivos (or lifetime) gift is one that is made while you are still alive and well. It is a great way to reduce your taxable estate. But care must be taken to avoid problems with gift taxes, Medicaid, and related tax issues. If you no longer own the property when you die, it can't be taxed (though it may be subject to tax if it is made during 1-3 years before your death). These gifts also avoid probate and allow your beneficiaries to enjoy the property much sooner.

But, on the flip side when you make gifts you no longer control or have use of the property. And, the person receiving the gift also receives your tax basis. Finally, if the gift exceeds a value of $13,000 or the amount of the current exclusion amount allowed by the government, it might trigger, tax to the person making the gift.

What exactly is an Inter Vivos Gift?

There are 3 simple requirements to have a valid Inter Vivos Gift:

You need:

1. Present Donative Intent - The donor (that is YOU) must have the present intent to make a gratuitous transfer (a gift).

2. Delivery - The property must be delivered to the donee (who you are giving the gift to).

3. Acceptance - The donee must accept the property (must accept the gift).

When all 3 occur the gift is completed.

Now that you have a little background on what an Inter Vivos Gift is and how it can be so important in a successful estate plan here is a recent (May 2011) Pennsylvania case on Inter Vivos Gifts and why it is so important to understand what they are, what they do, and how to utilize them.

Recent Estate Planning News:

The Decedent (the person who has passed away) opened 3 bank accounts with his sister as joint tenants with right of survivorship between 1997 and 2003. In 2005 he created his last will and gave all his real and personal property to his three grandchildren and he named his daughter and not his sister as his durable power of attorney. In 2005 his sister withdrew over $45,000 from these accounts. Pennsylvania Orphans' Court has ordered that these funds must pass under the decedents will. The sister appealed explaining the accounts were to go to her but the Appellate court ruled that joint accounts should pass under the will.

In short, using joint accounts as an estate planning tool can be confusing and expensive. Get good advise on this gift.

Estate Planning For Second Marriages and Blended Families

Mon, 22 Aug 2011 08:00:00 GMT

Incorporating Pre- and Postnuptial Agreements, Meeting Obligations to Children and Spouses, and Maximizing Tax Benefits

Estate planning for second and subsequent marriages is complex. Today this is a complex reality for more and more families. It doesn't seem like it should be. But the truth is that for most blended families the issues are complicated and often involve:

•Pre or post nuptial agreements,
•Children of different ages with different needs,

•The need to protect a spouse and children from one or more marriages and many more, legal, tax, and practical issues,

•The question of conflicting interests and whether you and your spouse need one lawyer or more.

What is going to happen to your premarital property or property accumulated during the course of a subsequent marriage?

Are there children from your current and or prior marriages and how do their needs differ?

Do you have any obligations from a prior divorce judgment?

Who will be your agent under a power of attorney (POA) or your executor or trustee for your heirs?

Prenuptial and postnuptial agreements have become common in second marriages, and incorporating these agreements into estate and trust plans for spouses of second marriages is critical. For example the tax implications of these prior agreements can be significant.

Failure to review these documents with your estate lawyer can be a real problem.

A comprehensive estate plan must include arrangements for joint and separately held assets, tax planning for both you and your spouse, and implement your intentions regarding children from each marriage, and among other considerations arranging for alimony and support obligations.

Just holding all of your assets in joint names or naming a current spouse as an IRA beneficiary my not be able to accomplish your goals.

A second or subsequent marriage should be an exciting time for you and your family. Make sure you include this new part of your life into your old will and trust so that your most recent intentions can be fulfilled effectively.

So if you have a second marriage and or blended family and you want to get the most from your consultation with a trust and estate lawyer get our report and more information about planning issues for second marriages and blended families by emailing dfrees@utbf.com and mention " blended family" in the subject line.

Returning or Starting College: Essential Legal Documents For Your Children

Wed, 03 Aug 2011 08:00:00 GMT

It is almost time to send your child or children to college, either for the first time or as returning students. There are millions of things to think about and do from helping them move into their dorm room, to buying them a refrigerator, helping them purchase books, to making sure all their forms and paperwork are filled out to start the school year without a glitch.

But one thing you may not have thought about is making sure your children who are now 18 or older have the Essential Legal Documents they need to start or return to college.

What documents does my college age child need?

1. A Power of Attorney- (POA) durable, financial, and medical
2. A HIPPA authorization
3. Depending on your unique situation there may be other essential legal documents that you should have

These documents allow you to make financial or medical decisions for your child. These legal documents allow you to get grades while they are at school (without them you will not be able to get grades even if you are paying the tuition!). They allow you to talk to their doctor or get copies of their medical records. In an emergency they allow you to act where otherwise you would not be able to without a courts approval first.

Click here to read our article It"s Time To Start or To Return To College- Did Your Son or Daughter Leave You With A Power of Attorney? to find out more information about essential legal documents for your college age children.

College is an exciting time for your children and for you. Be prepared for all situations so that you are able to help your child get the most out of their college experience.

Print out this helpful college checklist for essential items your college age student should bring to or back to school, The Ultimate College Checklist.

Understanding Critical Trust Language

Fri, 01 Jul 2011 08:00:00 GMT

Have you ever been to a lawyer, doctor, or other professional and had the feeling that they just weren't listening? Many lawyers seem to "talk down" to their clients and or use words that make you feel like you need a personal interpreter. Even many sophisticated business men and women tell us that working with a trust lawyer, elder law attorney, or probate lawyer can seem infuriatingly complicated.

We want to make life simpler for you while giving you the most advantages that trusts can offer and help you understand lawyers' often-foreign language.

We have written a report to help you, in advance to understand the many important trust words that you will hear or see in your appointment or in your trust documents. We have defined them for you so you can leave your interpreter at home when you meet with your trust lawyer or when you read trust documents you are involved in.

Click here to read our entire report on trust definitions A Guide to Lawyer Language: Understanding Trusts

Marcellus Shale News Update

Sun, 26 Jun 2011 08:00:00 GMT

Exxon buys 317,000 acres in the Marcellus Shale Region of Pennsylvania

In the beginning of June Exxon Mobile corp., which is the largest U.S. natural-gas producer, paid $1.69 billion for two closely held energy explorer companies, Phillips Resources Inc., and TWP Inc. in Pennsylvania. Exxon now holds shale-gas reserves in Pennsylvania and neighboring states.

This latest buy in to the Marcellus Shale in Pennsylvania by big industry shows industry confidence in hydraulic- fracturing "fracking" to free gas unleashing new supplies in natural gas in the U.S.

Shale formations have the potential to more than double the world's gas reserves, the U.S. Energy Information Agency said in an April 5 assessment.

The U.S. has an estimated 827 trillion cubic feet of shale gas and it may account for 47 percent of the nation's production of the fuel by 2035, the agency said.

Pennsylvania is a big player in this shale gas explosion.

Find out what Pennsylvania is doing about this exploding field of shale gas at our Marcellus Shale Resource page.

Why Do Wealthy Never Own Life Insurance Outright?

Sun, 19 Jun 2011 08:00:00 GMT

So, what is a Life Insurance Trust?

A life insurance trust is an irrevocable trust where your life insurance policy is the main asset. After you are gone the assets go directly to your designated beneficiaries and are not considered part of your estate for federal tax purposes.

A life insurance trust is only one of dozens of different kinds of trusts that can save you money, provide care for someone else, and shield your spouse from unnecessary taxes, among many other purposes.

To learn more about many common trusts and why average and wealthy people use them read this trust guide How to Find the Right Trust for You

Trusts are a great tool for you to save money and prepare for you and your families future.

If you need a will or trust drafted to your specifications call 610-933-8069 and ask for David Frees or one of the lawyers at Unruh, Turner, Burke, and Frees for a telephone conference or appointment. David Frees can also be reached at dfrees@utbf.com

Does Your Will Have The Right Stuff When It Comes To Your "Stuff"

Sun, 05 Jun 2011 08:00:00 GMT

What really is tangible personal property?

A dictionary definition of tangible property is:

"Tangible property in law is anything which can be touched, and includes both real and personal property (or moveable property), and stands in distinction to intangible property."

From that definition do you understand what tangible property is?

If you answered NO here are a few examples:

•Tangible property is personal property that can be physical in nature, such as a diamond ring, a silver coin, a boat, or the contents of a home.

•It is property you can see or touch, such as buildings, machinery, vehicles, furniture, and equipment.

And, your will should have a specific clause that deals with personal property as opposed to the financial value of real estate, stocks, bonds, businesses, and other investments.

It is important to understand the meaning of the words that make up your will. If you misunderstand what something is or what its effect is your will may not effectively do what you want it to do. So make sure you review your will for a personal property clause and that such property is going to the right person.

Helpful Hint: Read over your estate planning documents such as your will and write down any questions you have so when you meet with your lawyer you can make sure you have the best will possible for your unique situation.

P.S. As a client or reader of Unruh, Turner, Burke, and Frees Attorney's at Law's Estate and Trust Blog, you qualify to claim one of our free will reviews. These reviews are scheduled during the summer months. The twenty-minute will review (we will gladly review even if we did not draft your will) and our advice is free.

This is a limited time offer so please call David M. Frees III or Douglas Kaune at 610-933-8069 today.