Months and all the assets are paper. All taxes have been paid to government and state of penn. i live in Delaware father in penn.
answered on May 5, 2023
If the Trustee ( Execeutor?) is not sharing information with you, you may need to engage your own attorney for Beneficiary Representation to obtain the accounting and release of funds (if that is appropriate). Much may depend on whether your father had a Trust, and this is a Trust Admininstration,... Read more »
Sole member of small PA LLC has died. Operating agreement dissolves the LLC upon member death. Personal Rep wants to wind up and terminate the LLC. Personal Rep has letters testamentary. What PA Dept of State forms (filing of certificates), or processes, are required to authorize Per Rep to wind... Read more »
answered on Apr 18, 2023
The Personal Rep has the authority to wrap up the LLC as you describe it. There is a Dissolution process in PA for ending an LLC, which includes collecting all revenues and accounts receivable, paying all costs and debts of the business, getting tax clearances from the Department of Revenue, and... Read more »
I know a provision in the Will can request an SNT for the benefit of a disabled child. Are SNTs created and/or funded after the death of the grantor(s)? It’s my understanding that one should not leave assets directly to a disabled child, so they don’t lose their government benefits. If a trust... Read more »
answered on Mar 19, 2023
a Special Needs Trust can be created either in a Will, in which case it is not funded until the death of the Grantor, or can be created during the lifetime of the Grantor, in which case it is usually funded (at least partially) when created, and additional funds can be added during the lifetime of... Read more »
Since it’s technically not probate property as there were already designated beneficiaries, does this require court approval or does a family settlement agreement suffice?
answered on Mar 15, 2023
Not sure that a Family Settlement Agreement is appropriate here. There is no probate estate. However there will most likely be PA Inheritance Tax due on the account balance. Once the 2 beneficiaries receive the balance of the account and pay or set aside the PA Inheritance Tax they are free to... Read more »
I am starting an online business in PA and have a virtual office address for the business along with a registered agent that I used to file the corporation with the state. Can I use that address to get a local business license or do I need to use my home address? I am unsure if I should use the... Read more »
answered on Feb 27, 2023
Not sure what you mean by a "business license" in Pennsylvania? if you are looking to form a corporation or an LLC to conduct a business in PA you will need a street address. We usually don't recommend that you use your home address, but since you do not have a business office or... Read more »
I live in and the business will operate in Pennsylvania. What is the best way to set this up? I am not looking to dodge the pa tax, I just don't want my name on the database as the owner. Should I register as a foreign corporation or set up a second domestic S corp with the first as the owner?... Read more »
answered on Feb 7, 2023
i agree with Attorney Lanard. if you use a law firm or commercial registered agent you can file the Articles of Incorporation without your name and without your address (or an address associated with you). Out of state incorporation would add a layer of complexity and ongoing expense with very... Read more »
She is listed as 1 of the 5 to receive money. Its her 2 brothers and 2 of her sisters kids because their mom died. Would i get what my mother was being left? I am the only child she had. The woman said she would check because of a form that has to be filled out. My mom's sister is deceased and... Read more »
answered on Feb 7, 2023
whether or not you would receive your mother's share will depend on the wording of your uncle's Will and may also depend on whether your mother survived your uncle and then died, or whether she predeceased your uncle. Since you have been contacted by uncle's estate attorney you have... Read more »
The specified amount was the same for my 2 siblings and 2 charities . I live in nj but the will is coming from pa
answered on Feb 3, 2023
There is not enough information in your question to give you a definite answer, but if the total estate is not large enough to pay 100% of the specific bequests to you and your siblings and the charities, then yes you can receive less than 100% of the specific bequest. However, typically all of... Read more »
He has real estate as well as our house in his name only, and my mom wants her name put on the property as well. How can they go about switching ownership legally from just him to both of them, so that her name can also be on the deed?
answered on Jan 30, 2023
Transferring property from a husband to husband and wife jointly (tenant by entireties in Pennsylvania) is easy so long as there is not an outstanding Mortgage loan. Just need a new Deed from your father (Grantor) to your father and mother as husband and wife (Grantees). Since the transfer is... Read more »
i am trying to figure out what to do with the LLC. i need to changed the LLC's address as it was my sold home in NJ. do i need to file as a foreign PA LLC, create a new LLC in PA? do i need to close the NJ LLC? i am trying understand the best way to 'move' my LLC to PA. what... Read more »
answered on Dec 27, 2022
Do not have all the facts here, but it looks like you have several options. The easiest would be to get a Registered Office or Registered Agent in NJ for your LLC. The property is located in NJ, and you have a NJ LLC so that lines up fine. Just because you (as the Member or Owner) moved to PA... Read more »
document in order to collect funds but I don't know exactly what I need. My mom did not own a home or have any assets can someone give me a clear answer on what I need to do and please talk in layman's terms so I can understand please.
answered on Oct 31, 2022
Since your mother had a 401k plan, she should have designated you as beneficiary (or one of several beneficiaries) to receive the account. If she did not designate at least one beneficiary, then your mother died Intestate (without a will) and Fidelity is describing a Small Estates Petition in... Read more »
I am selling commercial property with both our names on deeds. We were in the process of doing this together before his passing but never started any listing etc. I just want to sell as is, no contingency, cash only. Must I probate the will or can I just proceed as we were planning?
answered on Oct 25, 2022
You will need to review the actual language of the Deed to determine how the property is titled. If the Deed lists your name and your husband's name as "husband and wife" or as "tenants by entireties" or as "joint tenants with right of survivorship" then the... Read more »
the wedding. But the lawyer won't let me do. He scheduled about week after her wedding. I am still not signed yet.
I worry what make a difference. I her parter has a will and already signed or his own money.
I would like to know what makes difference.
Thank you
answered on Oct 20, 2022
Not sure why your daughter was rushing you to sign a Will or Trust prior to her wedding. And it is unclear if it is your attorney or her attorney that advised to wait until after the wedding to sign your documents (and has not scheduled the signing yet). I would step back, take a deep breath and... Read more »
answered on Sep 28, 2022
As Attorney Asbel has stated, the short answer is NO. The Executor of the Estate has certain procedures he or she must follow in order to carry out the provisions in your Grandfather's Will. These procedures are designed to protect the Executor , as well as the beneficiaries such as... Read more »
My Dad never updated his will but he left everything to his girlfriend and she said she is going to distribute everything between her and the 3 children evenly. Wondering about taxes and if I should get an attorney to make sure it’s done fairly. 350k+ in assets and investments mostly... Read more »
answered on Aug 14, 2022
Not sure how to read your question, but if you mean by "never updated his will" that your dad DID have a will and his girlfriend received everything under the will, then you will definitely want to meet with a PA estate attorney. if the will is probated and the girlfriend does not file... Read more »
My dad died intestate. Bank accounts were jointly owned with my mom (his spouse). Only one account was in his name solely, a holding in a mutual fund, approx 50,000. He also had a credit card in his name solely, approx 10,000. After funeral expenses, etc there is enough left to pay the unsecured... Read more »
answered on Aug 11, 2022
Two different questions here. PA Inheritance Tax return you usually report assets in decedent's name alone at 100% of value, and then there is a Joint Asset schedule where (in case of husband and wife) you would report 1/2 of total of joint assets.
The credit card would be deducted as... Read more »
We Plan on living in the house for at least the next 2 years. The recorder of deeds aid that we need to get a new deed created and that any title company can do it. About how much does this whole process cost? I know there is an $83 recording fee. And what is required or needed to create a new... Read more »
answered on Aug 11, 2022
You indicate that you inherited the house. How you inherited it will determine if the process is simple or a bit more complicated. If your father's Deed was joint deed with you and your sister (Joint with Right of Survivorship) it may be as simple as filing a PA Inheritance Tax Return to pay... Read more »
answered on Aug 5, 2022
it depends on how you are "listed". You can be an authorized signer or a POA, and in these cases there are no issues if you predecease your relative. On the other hand, you may be a joint owner of the account, which has different consequences for your "estate" depending on... Read more »
Father-In-Law passed away in December, there is only his wife (my mother-in law) and my wife (his daughter) surviving him. My Wife is the executor. There's no mention to where it goes in will. Only thing the will says is that the house is left to his wife (my mother in law) and that his... Read more »
answered on Aug 4, 2022
The language in the Will generally controls who gets the residual of the Estate and how they get the residual. In a case like this a will would generally state...the rest, residue and remainder of my estate shall be distributed to my wife...In the unlikely case where there is no residual clause... Read more »
My stepmother recently passed away. My father had granted her a life estate for his house, with the remainder interest to be divided between my sister, myself, and my stepmother's daughter. What is the process that we now need to go through to sell the house and divide the proceeds. The lawyer... Read more »
answered on Jul 25, 2022
Your answer will depend on how the life estate was created. If by Deed, then the Deed will be recorded at the county Recorder of Deeds Office and you may need as little as a death certificate and a new deed. If by Will, then will have to open an Estate Administration and the executor of the... Read more »
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