Protecting The Home: Using Trusts To Protect Your Home From The Costs Of Long-Term Care – Begley Report
by Thomas D. Begley, Jr., Esquire, CELA INTRODUCTION Studies show that 43% of Americans will spend some time in a nursing home. Seventy percent will require some form of long-term care be it nursing home, assisted living or home care. The cost of this care can range from $28 – $35 per hour or more…
Vacation Area Homes: Tax and Management Issues – Begley Report
By: Thomas D. Begley, Jr., Esquire, CELA CASE STUDY 1: VACATION HOME—NO ESTATE PLAN Harry and Sally own a vacation home on a barrier island. They purchased the home many years ago for $50,000, and it is now worth $1 million. Harry and Sally have two children and five grandchildren. The children visit the vacation…
Pennsylvania Court Reaffirms Strict Compliance Standard for Power of Attorney Execution
by Adam Cohen, Esq. Pennsylvania has stringent execution requirements for General Powers of Attorney (those not related to healthcare decision-making). The principal must sign the document in front of two witnesses and a notary. The law also explicitly requires all Power of Attorney documents to have the statutory Notice affixed to it, and signed…