Herr Potts & Potts Blog

When Are Wills Filed in Pennsylvania?

Wills are typically filed at some point after the will creator (“testator”) passes away. Wills are important for individuals who need to transfer their property to their family and loved ones. If you need to file a will in Pennsylvania, you should consult with an experienced Pennsylvania probate lawyer. At Herr Potts and Potts, our lawyers are ready to assist you with all your estate administration needs. Our lawyers explain when wills are filed in Pennsylvania. How to File a Will in Pennsylvania As mentioned, a will is usually filed after the testator has passed away. To file a will, the personal representative or executor named in the will must first discover the decedent’s most recent will and any amendments to that will. Probating an old will that was later altered by the testator can cause issues with the probate process. Therefore, it is important that the executor files the

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Are Handwritten Wills Legal in Pennsylvania?

A will is an invaluable tool that can be used to help plan your estate. A will allows you to continue to provide for your family once you have passed away. However, not everyone has set aside time to take inventory of all of their assets and to prepare for it to be passed onto their family. Therefore, if tragedy suddenly strikes, it is understandable to wonder if a handwritten will is enough to pass on your estate to your family. If you or a family member must know if a handwritten will is valid in Pennsylvania, you should speak with an experienced Pennsylvania estate planning lawyer. At Herr Potts and Potts, our lawyers are here to help you reach your estate planning goals to provide for your family. Our lawyers are here to explain the legality of handwritten wills in Pennsylvania. When is a Handwritten Will Legal in Pennsylvania?

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When Do You Need to Pay Taxes on Inheritance in Pennsylvania?

In Pennsylvania, if you were named as a beneficiary in a person’s will or by intestacy, you may have to pay taxes on property that you receive. The relationship you have with the deceased individual (decedent) will dictate how high or low the inheritance tax rate will be. However, under certain circumstances, you may be exempt from paying an inheritance tax. If you or a family member has received an inheritance and are concerned about the inheritance tax, you should consult with an experienced Pennsylvania tax lawyer today. The dedicated lawyers at Herr Potts and Potts are prepared to help you handle any Pennsylvania inheritance tax issues. Our lawyers are here to explain when you need to pay taxes on inheritance in Pennsylvania. How Does the Inheritance Tax Work in Pennsylvania? Pennsylvania is one of seven states that collects an inheritance tax based off of the value of a decedent’s

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Can You Give Property to Family Members in Pennsylvania?

One of the main goals of estate planning is to utilize your estate to provide for your family. When forming an estate plan, you should be aware of any tax consequences or other laws that could affect a conveyance to your family. Failing to understand the consequences of transferring property to family members could invite unwanted tax issues. If you or a family member wants to give property to another family member, you should consult with an experienced Pennsylvania estate planning lawyer. At Herr Potts and Potts, our lawyers are committed to helping you develop an estate plan that can provide for your family effectively. Our lawyers are here to explain when you can give property to family members in Pennsylvania. How to Make a Lifetime Gift to Your Family There are many items that you can transfer to a family member that can be considered a gift, whether its

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The Types of Guardianships in Pennsylvania

Once an individual reaches the age of 18, they have a legal right to make their own decisions regarding their health and financial situation. Unfortunately, if a person becomes physically or mentally ill, this may affect their ability to make well-informed decisions for themselves. If this happens, a person who is interested in the incapacitated person’s well-being can begin proceedings for a guardianship. A guardian can be appointed to handle several different tasks for an incapacitated person. If you or a family member wishes to file for a guardianship, you should speak with an experienced Pennsylvania guardianship lawyer. At Herr Potts and Potts, our lawyers are prepared to work with you and your family to create a guardianship to benefit your loved one. Our lawyers are here to discuss the types of guardianships in Pennsylvania. How is a Guardianship Initiated? A guardian is an individual or organization that is appointed

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How the ABLE Account Helped a Client

Passed by the Federal Government with overwhelming bipartisan support in December of 2014, the “Achieving a Better Life Experience Act,” or ABLE Act, was a landmark bill that will affect how disabled individuals and their families manage finances.  In summary, the ABLE Account can currently have yearly contributions of up to $15,000.00 which grows tax free and the assets in the account will not be counted as a resource when qualifying or continuing to be eligible for other government benefits (accounts up to $100,000 are not considered in determining eligibility for SSI).  The ABLE accounts have been compared to and are modeled after 529 education savings accounts. Each state has to have their own legislation regarding ABLE accounts and Pennsylvania’s legislation was signed by Governor Wolf in 2016.  The individual setting up an ABLE account might also be receiving Social Security Benefits or SSI benefits and the Social Security POMS

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