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Douglas L. Kaune's Answers
- 53 Legal Answers
- 11 Legal Guides
2
Attorney answers:
What is the look back period for medicaid reimbursement
You are correct, there is a 5 year look back period for "gifts" made prior to application for Medicaid. With regard to the transfer of your mother's house, she would be making a gift to you of the value of the house that exceeded the amount you pay her for it. For example, if the house is worth $200,000 and you buy it for $100,000 your mother will be making a gift to you of $100,000. It would be appropriate for you to have a certified appraisal of the property to establish value. That...
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2
Attorney answers:
In pennsylvania. What action can be taken if my brother, the executor of the will refuses to distribute the assets of the will.
I would suggest Meeting with an attorney in the county where the estate was probated. It is likely that they will contact the executor or the the attorney of the estate. If no easy resolution can be had, it will be necessary to petition the Orphans' Court in that county to require an accounting of the estate and to force distribution from the esate. You can take a look at this site for additional information on the probate process and things to consider. http://www.utbf.com/trust-estate/...
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3
Attorney answers:
Estate planning under PA state law, probate and trust
Avoidance of probate in PA is not as important as it might be in CA. The PA probate fees are relatively low and there will be an inheritance tax on assets owned by a decedent regardless of whether or not they are considered probate or non-probate. In your case the entire $800K estate, less debts and expenses, would be subject to a 4.5% inheritance tax if there is a transfer from parent to child. There is a 0% tax on a transfer from husband to wife.
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2
Attorney answers:
I am the residual beneficiary of an estate. Can the executor and attorney convey the furnishings as part of the home sale
The answer to your question likely lies in the provisions of the decedent's Will. There should be a personal property provision that directs how the Executor is to dispose of personal items. If the items are to be given to you then I think you would have grounds in stating a case to receive the items and that they should not be sold. If the Will directs that the personal items are to be sold and proceeds to be added to the residue, then the Executor is likely acting within his/her rights.
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2
Attorney answers:
Prudential life insurance stock
If the prudential stock is in the decedent's name alone, it might be necessary for someone to be appointed executor or administrator of the estate to sell or transfer the shares. Typically, someone must be formally appointed by the Register of Wills in the county of the decedent's residence to transact on a decedent's assets. There are some exceptions of course, but this does not seem to be one. You should talk to the legal department at Computershare or Prudential shareholder services for...
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2
Attorney answers:
One Year rule of ownership on inheritance tax rules in Pennsylvania
You can add the previous term of ownership of the first CD to that of the second CD so long as you can prove the like ownership through bank statements etc. THis should allow you to get the more favorable tax treatment of joint ownership for more than one year prior to death and only 1/2 of the value will be subject to PA Inh. Tax.
1 person marked this answer as helpful
1
Attorney answers:
Can I get a copy of a will in Pennsyslvania once it is submitted into the Will of Registry?
Yes, the will becomes public record. You can go to the Register of Wills Office in the County where the decedent resided at the time of his death. Alternatively, you can call the same office and discuss what their requirements are for sending a copy out to you.
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3
Attorney answers:
My mother passed away in January and she had 3 CD's each joint owners between her and her 3 children.
I suppose, as pointed out by Jay, I should have added the disclaimer that my response above is only generally the case. However, there could be other issues at law in your case that would cause the jointly owned assets to be treated in a way other than their ownership designation would warrant warrant on its face and thus causing them to be added to the probate estate. There is no way for me to make that determination from the facts provided and you should therefore discuss your facts more...
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1
Attorney answers:
What are the criteria for division of assets the day one spouse enters a nursing home?
Generally speaking the marital assets would include jointly owned accounts, individual no IRA accounts, IRA accounts in the nursing care resident's name, life insurance cash value, stocks, mutual funds, bonds and other like accounts. Excluded items would include among other things, a house where the community spouse lives or might live, IRA or 401k or other retirement account of community spouse, 1 car. There will be a calculation whereby the marital assets will have to spent down to the...
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1
Attorney answers:
My Mom passed away in Dec. 08 in PA. As Executrix of the will, I would like some advise as to probating the will. Her estate is
I would like to answer a few of your questions and hopefully the answers will give you an idea of how to proceed. Probate would be established where her primary residence was located. The real question is whether she established Butler County as primary residence or if it was just intended to be temporary. Probate is required to access assets in your mother's name alone. If there are no such assets then you might not need to probate the will. It is important for you to make this...
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