Norris McLaughlin & Marcus, P.A.

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Estate Planning & Administration

Dec 05, 2016

Eyewitness Report: IRS Public Hearing On Section 2704 Proposed Regulations

On December 1, the Internal Revenue Service held a public hearing to allow individuals to present oral testimony on the proposed regulations regarding “Estate, Gift and Generation-Skipping Transfer Taxes; Restrictions on Liquidation of an Interest (REG-163113-02)” that were released on August 2, 2016.  The publication of these proposed regulations indicated that the IRS would potentially disallow the discounting of the value of family business interests for purposes of the federal transfer taxes. » Read More

Jan 06, 2015

New Laws Regarding Pennsylvania’s Powers of Attorney Affecting More Than the Individual

Pennsylvania recently enacted new legislation regarding Powers of Attorney that became effective on January 1, 2015. These new laws do not invalidate any currently existing Powers of Attorney, but they might change the way that the documents are interpreted. These new laws also affect commercial lending transactions, commercial leases, and other documents such as motor vehicle transfers. Click here to read more about how these documents are affected.» Read More

Feb 17, 2014

Death: An additional obstacle in divorce proceedings

Divorce is one of life’s most difficult obstacles.  As a recent Superior Court case reminds us, however, it can be further complicated by the death of one of the spouses. Up until 2005, Pennsylvania law provided that when a spouse died during the pendency of a divorce action, the divorce action would automatically stop with the economic issues between the spouses addressed under estate law. » Read More

Jan 21, 2013

2013: Life After the Fiscal Cliff

As of January 1, 2013, Congress agreed upon legislation that would prevent the expiration of many tax deductions and favorable tax rates.  The American Taxpayer Relief Act of 2012 (PL 112-240) was officially signed into law by President Obama on January 2, 2013.  The following is a summary of the more popular provisions of the legislation:» Read More

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