Douglas L. Kaune’s Answers

Douglas L. Kaune

Phoenixville Estate Planning Attorney.

Contributor Level 10
  1. Prudential life insurance stock

    Answered over 5 years ago.

    1. Barry J. Dubrow
    2. Douglas L. Kaune
    2 lawyer answers

    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...

    1 lawyer agreed with this answer

  2. Will

    Answered almost 6 years ago.

    1. Douglas L. Kaune
    2. Gregory J. Jalbert
    2 lawyer answers

    Joint Tenants With Right of Survivorship designation on real estate and financial accounts will all cause the asset to transfer automatically to the surviving owner(s) upon the death of the other owner(s). Be careful that this does not result in an unequal distribution among beneficiaries or a distribution contrary to your will. An example of this would be the opening of an account JTWROS with one child despite your will saying your estate goes to 3 children at your death. The JTWROS...

    1 lawyer agreed with this answer

  3. Elder law-nursing home law

    Answered almost 6 years ago.

    1. Douglas L. Kaune
    1 lawyer answer

    You are facing a very complex issue in caring for your mother and your sister. There are very specific laws in PA that deal with your mother's ability to qualify for Medicaid while allowing a dependent/disabled child to continue to reside in the primary residence. Further, there are laws that, under certaince circumstances, will permit the assets (house and cash) of the parent to be placed into a special needs trust for the benefit of the disabled beneficiary. There is a specific procedure...

    1 lawyer agreed with this answer

  4. Mother had no will

    Answered almost 6 years ago.

    1. Douglas L. Kaune
    1 lawyer answer

    I am assuming your brother was appointed Administrator of your mother's estate. I am also assuming the paper to which you are referring is a release and indemnity agreement. You have the option to sign that release and your brother is likely to pay you the share of the estate promised in the agreement. If you believe he has acted improperly either during your mother's lifetime or afterterward, as executor, you can hire legal counsel to raise the issues with the Court where the estate is...

    1 lawyer agreed with this answer

  5. Is inheritance income by one spouse considered an exemption under PA laws

    Answered almost 6 years ago.

    1. Stephen J. O'Brien
    2. Douglas L. Kaune
    3. Margery Ellen Golant
    3 lawyer answers

    Typically an inheritance by one spouse is considered to be a non-marital asset so long as he or she continues to own the inherited assets separate from his or her spouse. Once the inherited assets are comingled with marital assets or spent on marital needs, they become marital in nature. He could have kept the inherited assets separate if you entered into some kind of loan agreement to repay the "borrowed" assets. I doubt this is the case however. Based on the limited facts, it is...

    1 lawyer agreed with this answer

  6. Wills

    Answered about 6 years ago.

    1. Stephen J. O'Brien
    2. Douglas L. Kaune
    3. Janet Lee Brewer
    3 lawyer answers

    You must first determine how the deed was written. Look to see if it was owned as Joint Tenants or as tenants in commone between your uncle and his mother. If it was jointly owned then it transferred from mom to son automatically in 1993. There was still a PA inheritance tax due at that time on her 1/2 interest so please ivestigate if that was paid at the time. Assuming it was jointly owned, the property will distribute through your uncle's estate. As such, determine if he had a will. If...

    1 lawyer agreed with this answer

  7. Pa law regarding filing of a power of attorney

    Answered about 6 years ago.

    1. Michael Ian Werner
    2. Douglas L. Kaune
    2 lawyer answers

    As previously answered, you can have multiple Agents under a POA, but be careful as those individuals might disagree on the solution to a problem or one of the two might no be available to deal with an issue. Either way this could slow or completely stop the decision making process. I stronly suggest having a attorney prepare a POA document. You should not try to prepare one on your own. There are many issues that an experienced attorney should counsel you on. PA also has very...

    1 lawyer agreed with this answer

  8. How to protect family home from second husband's elective share

    Answered about 6 years ago.

    1. Douglas L. Kaune
    2. David M. Frees III
    3. Jay G. Fischer
    3 lawyer answers

    To avoid the elective share option for the surviving spouse I would suggest making the real estate non-probate. The options would be gifting to individuals or into trust, joint ownership or sale to beneficiaries. Gifting with retention of life estate is a consideration, but tax issues need to be reviewed including the capital gains and inheritance tax concerns. Obviously the sale at fair market value would result in your mother having cash equal to the house value so you would not be any...

    1 lawyer agreed with this answer

  9. Hiring a tax attorney in Seattle to handle tax evasion matter, self employed person has not paid income tax for 20 years

    Answered about 6 years ago.

    1. Michael Emory Clark
    2. Robert B. Teuber
    3. Douglas L. Kaune
    4. Eric J. Gould
    4 lawyer answers

    It will be difficult to locate an attorney willing to tangle with the IRS for free. You could try the legal aide office in the county where he resides, but there are no guarantees there.

    2 lawyers agreed with this answer

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  10. One Year rule of ownership on inheritance tax rules in Pennsylvania

    Answered over 4 years ago.

    1. Steven J. Fromm
    2. Douglas L. Kaune
    2 lawyer answers

    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