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January 2014 Archives

Rep. Brandon Neuman clarifies tax issues on living trusts

The thought of dying and leaving property and assets behind is why some residents in Kennett Square, Pennsylvania, consider using estate planning tools, such as trust. Readers need to understand that without a trust and other estate planning tools, their property and assets will likely end in probate, which could take substantial time before heirs or beneficiaries can claim their fair share of the stake. One good reason that could convince people to create a trust is it can reduce taxes.

Documents in handwriting may qualify as a will

In the past, Pennsylvania readers may have heard of estate planning among rich people or in the movies when someone dies and the rest of the estate is distributed among heirs or beneficiaries. Now, estate planning tools such as trusts, wills, durable powers of attorney and guardianships are gaining popularity as more people are becoming aware of their importance.

Going it alone in probate litigation may yield uncertainty

Estate planning tools, such as wills and trusts, enable Pennsylvanians to designate how their assets will be distributed among heirs or beneficiaries after their death. However, wills and trusts are subject to dispute. Anyone who has had to contest a will and testament or who has had to become involved in questions concerning trusts can attest to the fact that probate litigation is very technical. Going it alone, without the help of legal counsel, is not likely to yield favorable results.

Lawsuit alleges fraud against rock promoter Graham's executor

The name of music impresario and promoter Bill Graham may not ring a bell to some Kennett Square, Pennsylvania, residents but they can surely learn from his estate plan. After a failed first attempt, Graham's estate is back in court after his two sons contested a court decision dismissing the fraud case they filed against the executor of their father's estate.

Trusts can save family legacy from heirs' bad decisions

Keeping the legacy within the family is one of the goals of an effective estate plan of many people in Kennett Square, Pennsylvania. However, it may be difficult to pass assets along to the next generation if the heirs are not yet capable of managing them.

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Larmore Scarlett LLP

Larmore Scarlett, LLP
123 E. Linden Street,
P.O. Box 384

Kennett Square, PA 19348

Phone: 610-444-3737
Fax: 610-444-9532
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