Steven M Zelinger’s Answers

Steven M Zelinger

Philadelphia Estate Planning Attorney.

Contributor Level 20
  1. Which business entity is best suited for my business?

    Answered 11 months ago.

    1. Steven M Zelinger
    2. Heather Ann Antoine
    3. Jacques Tushinsky-Fox
    4. Lubna Khan Jahangiri
    5. Zaher Fallahi
    6. ···
    6 lawyer answers

    I would visit with an attorney or CPA to look at everything to make the determination. However based on your facts you should like a single member LLC. Just my thought but this is not advice, merely an idea based on what you said.

    9 lawyers agreed with this answer

    1 person marked this answer as helpful

  2. I was named in a will. the executor of the estate has not informed me of that fact. How do I proceed to get what was left to me.

    Answered over 1 year ago.

    1. Julie Aletta Paquette
    2. Benjamin Thomas Vader
    3. Steven M Zelinger
    4. James P. Frederick
    4 lawyer answers

    You may be correct that you were named in the will. It is also possible that the will was not probated yet (you also have to check the county - it would be in the county where the deceased resided at death which could be debatable in some situations). You could check with the office directly, but most likely it sounds like the executor must be forced to produce and/or probate the will which requires court action.

    9 lawyers agreed with this answer

    1 person marked this answer as helpful

  3. Is there a limit to how many people can have power of attorney over a relative?

    Answered over 1 year ago.

    1. Steven M Zelinger
    2. Joseph Franklin Pippen Jr.
    3. C L Huddleston III
    4. Erin Cecil-Levine
    4 lawyer answers

    I am not a NC attorney but I would surmise that the rules are the same on this issue in most states. You may have 3 co-agents under a POA. Personally I think it is somewhat unwieldy but I do not think there is any prohibition against it. Of course, the principal (your mother) has the final say as it is her choice.

    9 lawyers agreed with this answer

    1 person marked this answer as helpful

  4. When my heirs calculate the value of my estate - estate tax purposes - include death benefits they receive from life insurance?

    Answered almost 2 years ago.

    1. Gregory Herman-Giddens
    2. Joseph Franklin Pippen Jr.
    3. David J. McCormick
    4. Steven M Zelinger
    5. Dennis Michael Phillips
    5 lawyer answers

    The prior attorneys are correct. A big misconception is that life insurance does not generate any tax. It is INCOME tax free to named beneficiaries. It is included in the decedent's taxable estate for estate tax purposes if owned by the decedent and not an ILIT.

    9 lawyers agreed with this answer

    1 person marked this answer as helpful

  5. If there is no will, what do I stand to inherit if my spouse dies before me?

    Answered over 1 year ago.

    1. Steven M Zelinger
    2. Elanor Ruth Snyder
    3. Rachel Lea Hunter
    3 lawyer answers

    The prior answer is correct in that the laws of intestacy (what happens if you die without a will) in PA would provide: $30,000 to surviving spouse, then 1/2 of what is left to surviving spouse with the remainder to the child (if the child is a minor, it would be held by the court). For that reason alone it is probably a good idea for him to have a will. Most married couples with young children would want the surviving spouse to get everything before anything goes down to a child. I do...

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  6. What is the most efficient way to pass the house to my granddaughter, my only living successor?

    Answered over 2 years ago.

    1. Steven M Zelinger
    2. Martin L Bearg
    3. Thomas Devlin Begley III
    3 lawyer answers

    Assuming you are a resident of NJ, from a tax perspective, your granddaughter will not pay inheritance tax for any property you pass to her. You say that the "house would not qualify for the estate tax" which i assume to mean you believe that your total taxable estate does not exceed either the NJ estate tax exemption ($675K) or federal ($5 mil.). I also assume that when you say your estate is not that large you are including all assets you inherited in any way from your husband that are now a...

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  7. If I form an LLC and I own 98% of it and 2% I give to a friend do I have to share with him 2% of profits at the end of year?

    Answered over 1 year ago.

    1. Steven M Zelinger
    2. Robert John Murillo
    3. Christopher Michael Larson
    4. Joseph Franklin Pippen Jr.
    5. Adam Lefkowitz
    5 lawyer answers

    I agree that your operating agreement can basically be whatever you want it to be, but I also agree with the other attorney that it doesn't make sense to give this person a percentage if they are (perhaps) buying in but get no return, no income, no control or anything else?

    7 lawyers agreed with this answer

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  8. If some one dies without a will can the son take ownership of his fathers possessions because they have same name

    Answered 11 months ago.

    1. Steven M Zelinger
    2. Richard Edmund Hawkins
    3. Christopher Daniel Leroi
    4. Jonathan Craig Reed
    5. Joseph Franklin Pippen Jr.
    5 lawyer answers

    If there is no will, the estate would pass down to his legal heirs. If there is no spouse and no other children, the son would take his fathers assets but that doesn't mean he doesn't have to pay father's debts first. An estate should be opened to do all this properly.

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  9. Can a person whose name is not on a deed automatically do a quit claim deed on your house?

    Answered over 1 year ago.

    1. Heather Morcroft
    2. Barry A. Stein
    3. Steven M Zelinger
    3 lawyer answers

    If your mother owned the house in her name at death then the house has to go through probate which means an estate representative has to be named. Your sister, if she is not the estate representative, cannot do what you are proposing. You should see an attorney to walk you through the probate process.

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  10. What are the gifting laws?

    Answered over 1 year ago.

    1. Steven M Zelinger
    2. James Allen Hanson
    3. James C. Higgs
    3 lawyer answers

    You are confused by something very common among people who deal with these types of situations as you are now. You need to visit with an estate planning or elder law attorney to see if any of these issues can be addressed. As a basic explanation note the following: 1. When you refer to the $13,000 gift per person you are referring to the amount the IRS allows someone to exempt from GIFT tax each year (it's now $14,000 as of 2013) without having to file a gift tax return or have the amount...

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