The COVID-19 pandemic has altered our daily lives. Social distancing measures advanced by the CDC (i.e., maintaining six feet of distance, no group gatherings, wearing masks outside, setting aside documents traveling in the mail for 2-3 days to allow the virus to die on surfaces) are designed to slow the spread of the virus by flattening the curve and keep us safe.» Read More
On April 2, 2020, Pennsylvania Governor Wolf approved a temporary and limited suspension of current law 57 Pa.C.S. § 306, which requires the physical presence of notaries, for estate planning documents that require notarization or for which notarization is considered best practice.» Read More
As part of the federal government’s rapidly evolving response to the impact of the 2019 Novel Coronavirus (COVID-19), the IRS has announced that individuals covered under a high deductible health plan (HDHP) will not lose their eligibility to make or receive pre-tax contributions to a health savings account (HSA) merely because their health plan provides benefits associated with testing for and treatment of COVID-19 before the HDHP’s ordinary minimum deductibles are met.» Read More
As the festivities of the New Year have waned and we approach Tax Season, we bring you news of recent legislative development – The SECURE Act – that warrants your attention and may require changes to your estate plan.
Sixty-two percent (62%) of American households include at least one pet. Many owners view them as “family.” Lawyers and pet owners need to be aware that the pet can be legally protected during the owner’s lifetime by a Durable Power of Attorney, and after the owner’s death either by provisions in a Will or by a Trust. » Read More
A newly-passed law, the Medical Aid in Dying for the Terminally Ill Act, will help terminally ill New Jersey residents end their life under their own terms. Widely supported by both the public and advocacy groups, the Act makes New Jersey the eighth state to pass “right to die” legislation.» Read More
I recently contributed an article published in Network Magazine entitled “Effective Estate Planning: A New Era.” This article discusses effective estate planning and tax planning for individuals, common client misconceptions, and why effective estate planning is not only about the Will.» Read More
The new section 199A of the Internal Revenue Code (IRC) provides a potential tax break for owners of passthrough entities like S corporations, partnerships, and limited liability companies (taxed as partnerships or as disregarded entities). For higher-income taxpayers, the 20% Qualified Business Income (QBI) deduction is generally limited to the greater of 50% of the allocable W-2 wages for the trade or business, or 25% of allocable W-2 wages for the trade or business plus 2.5%» Read More