Federal tax adjustments will change how families protect their wealth beginning in 2026. Following the enactment of the One Big Beautiful Bill Act, a lifetime baseline of $15 million is now the permanent federal estate tax exemption for every person. This shift means...
You spent decades building your company in Pennsylvania. Now you want to step back without tearing it apart. You want each of your children treated fairly, especially those who work beside you each day. However, business succession and estate distribution follow...
Estate planning can involve a variety of different types of documents. Wills are arguably the most common estate planning instrument, but they are far from the only documents people may need. Some people establish trusts. Others create advance directions that take...
The contents of a will determine an individual's legacy. They also guide the support that surviving family members receive. A will may designate a guardian for minor children. It may name beneficiaries who should receive assets from the estate and a personal...
Creating your estate plan took a considerable amount of time, but it was a relief knowing that you could check off that crucial task on your to-do list. And now it’s probably stored away in a safe place until it’s needed. But if you think an estate plan is a one-time...
Do you want to protect your estate from collections, estate taxes and conflicts after you pass away? One of the ways you can protect your legacy is by creating a trust. A trust is a legal document that allows you to entrust your assets to a trustee. The trustee...
Pennsylvania is one of a handful of states with an inheritance tax. This is a tax on inherited assets. An inheritance tax is different from an estate tax. While there is a federal estate tax, Pennsylvania itself doesn’t have one. Estate taxes are paid by the estate,...
Probate can be quite complex and time-consuming, and it gets even more complicated when the deceased owns property or assets in more than one state. That’s when something called “ancillary” probate comes into play. How ancillary probate differs from regular probate...
Business succession planning is about an organization’s leadership thinking ahead to be sure that the business has the talent and experience in reserve that it may need to replace a key role, sometimes on short notice. After all, people change jobs frequently in the...
While you are still recovering from your recent Thanksgiving meal, it is important to continue thinking of your loved ones as the holiday season continues to move forward. While it may be difficult conversations to have, this time of year is a great opportunity to...