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McNees Wallace & Nurick LLC: Have You Checked Your Beneficiary Designations Recently?

By David M. Watts, Jr Beneficiary designations are forms that are routinely completed for life insurance policies, retirement accounts and even some bank and investment accounts. The forms say who will receive the asset upon the asset owner's death. When a beneficiary designation is in place, it...

McNees Wallace & Nurick LLC: Tax-Advantage Charitable Giving

By David M. Watts, Jr. If you are charitably inclined, there are tax-advantaged ways to make a gift to a favorite charity while enjoying the income from that gift for your lifetime. Many educational and charitable organizations offer plans that combine the benefits of an immediate income tax deduction...

McNees Wallace & Nurick LLC: Planning and Paying for Long-term Care (Part 4 in a Series: Medicaid/Medical Assistance)

B y Scott Alan Mitchell As of January 1, 2012, the average cost of skilled nursing care in Pennsylvania is $8,112.13 per month. Recall that according to national statistics, approximately 50% of nursing care throughout the country is paid by Medicaid - more than double any other source of payment ...

McNees Wallace & Nurick LLC: Pennsylvania Supreme Court Affirms Constitutional Test Must be Met by Those Seeking Charitable Exemptions

By Randy L. Varner In a 4-3 decision, the Pennsylvania Supreme Court, in Mesivtah Eitz Chaim of Bobov, Inc. v. Pike County Board of Assessment Appeals, No. 16 MAP 2011 (April 25, 2012) (" Mesivtah") [ enhanced version available to lexis.com subscribers ], held that a property owner seeking...

McNees Wallace & Nurick LLC: Orphans' Court Update - Exceptions: The New Waiver Trap

B y Kendra D. McGuire If a party is unhappy with the trial court's application of the law to the facts presented during an orphans' court matter, can the unhappy party bypass the exceptions process and go directly to the appellate courts? Recently, the Superior Court answered that question...

McNees Wallace & Nurick LLC: Estate Planning – IRS Issues Temporary Portability Regulations

By Frank C. Chesters The "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" was enacted December 17, 2010 and is referred to as "TRA 2010." This legislation included a significant change to the estate and gift tax applicable exclusion amount by adding...

McNees Wallace & Nurick LLC: Filial Support and Mr. Pittas

By Scott Alan Mitchell In this issue of McNees Insights , I will take a brief detour from the ongoing series, "Planning and Paying for Long-Term Care," to discuss a recent and significant Pennsylvania case that has generated a great deal of discussion in legal and health care communities...

McNees Wallace & Nurick LLC: Pennsylvania Supreme Court Changes Rule On Dual Commissions

B y Kimberly M. Colonna For well over 60 years, Pennsylvania law has provided that, for trusts created before 1945, an entity that was paid a commission as the estate executor was not entitled to a trustee's commission paid from the principal of the trust. A 2011 decision from the Pennsylvania...

McNees Wallace & Nurick LLC: Contribution to Construction Costs Supports Charitable Exemption

In June, the Commonwealth Court addressed another issue of interest to nonprofit entities seeking charitable exemptions from Pennsylvania Sales & Use Taxes and local real estate taxes - whether a substantial contribution to construction costs may help satisfy the requirement that a charitable institution...