GLOSSARY OF TRUSTS

RS LAW | GLOSSARY OF TRUSTS Inter-Vivos “Living” Trust This is the foundation of your estate plan and can be used by a married person, unmarried person, or a joint trust for a couple. You are generally your own trustee, and name a successor trustee to take over management of your affairs in the event […]

Common Questions About Deeds

Introduction: Common Questions About Deeds Purchasing real estate can be intimidating because of all the jargon and legal requirements involved in the process. Understanding some of the fundamental legal concepts can help you overcome that intimidation to feel more confident and informed in your decisions.  One of the essential elements of a real estate transaction […]

Common Issues When Purchasing Real Estate

Common Issues When Purchasing Real Estate Whether you’re an investor or just someone looking for a home, buying a house can be a daunting task. From financing, to inspections, to liens on the property, there are many ways a transaction can go wrong.  With Philadelphia’s housing market still booming, it is important to be armed […]

Getting Started with Short-Term Rentals

Introduction: Getting Started with Short-Term Rentals  Over the last ten years, short-term rentals through platforms like Airbnb have exploded in growth. That growth, however, has been met with increased regulation by states and cities, including the City of Philadelphia, which passed a law regulating short-term rentals in 2015. Listing your home for short-term rentals on […]

Partition Actions of Real Estate: When co-owners cannot agree

PARTITION ACTIONS OF REAL ESTATE: WHEN CO-OWNERS CANNOT AGREE ON WHAT TO DO WITH A PROPERTY Introduction: Buying Property with a Co-Owner Buying a house with a significant other or a business partner often starts out well, with both parties putting a lot of thought and effort into finding their favorite neighborhood, getting the best […]

The Benefits of Owning Real Property in an LLC

Introduction Purchasing real estate requires careful consideration of price, location, and return on investment. Equally important is the investment vehicle a buyer chooses when making a real estate purchase. Limited Liability Companies (LLCs) are an important, and often preferred, investment vehicle that buyers should consider when acquiring real estate because of tax and liability benefits, […]

Who gets the House?

Who Gets the House? Why everyone needs to pay attention to Estate Planning. After almost a half century as an estate planning attorney, I’ve too often heard clients state that they have a “simple estate” and didn’t really need any planning. Too often the public limits the need – or perceived lack of need – […]

Who Do You Trust?

Who Do You Trust? Who should you choose as a Trustee? When making recommendations for an Estate Plan I often find it appropriate and necessary to recommend the creation of one or more Trusts. In my four plus decades as a private practitioner of law one of the most important decisions in which I need […]

Use It or Lose It

Take advantage of increased gift tax exemptions before the 2026 sunset. Under the Tax Cuts and Jobs Act we’ve seen an increase of gift and estate tax exemptions which in 2019 are $11.4 million for an individual and $22.8 million for a married couple. Like the carriage in the story of Cinderella which turned back […]

Understanding Your Life Expectancy

Understanding Your Life Expectancy Don’t Outlive Your Money Perhaps the greatest fear we experience as we grow older is not our eventual death but what might happen if we outlive our money. Nobody wishes to become a burden on their children. Those without children might have no family to which they might turn. There are […]