John B Whalen Jr is a prominent probate, estate, and wills attorney located in Wayne, Pennsylvania, who serves clients throughout Pennsylvania, including Delaware County, and the broader Philadelphia region. He holds an advanced LL.M. degree in taxation and focuses his practice on estate administration, probate, and tax issues.
His practice areas and expertise lie in Probate and Estate Administration, and Guidance for executors, administrators, and beneficiaries to settle a loved one’s estate properly. As a tax-focused lawyer, he helps resolve complex state and federal tax issues related to estates. He also practices the preparation of wills, living wills, and powers of attorney.
Credentials: Holds an AV Preeminent Martindale rating and a 10.0 Superb rating on Avvo with over 95 peer and client endorsements. One of his offices is at 8 Longwood Drive, Wayne, PA 19087. He is open on all 7 days, from 7:00am to 10:00pm, and can be reached by text at 610-999-2157, and by email at jw60297@me.com.
Probate Lawyers Jim Thorpe Pa – Intro
The Pennsylvania Probate process, itself, is a very simple process. However, it is merely the beginning of the Pa Estate Administration (Pa Estate Settlement) process, which involves settling a decedent’s affairs, and can (and does) involve many, many other steps, depending on many, many other things.
The first step (and one of the most important ones) in the process of settling an estate is getting organized. You’ll want to keep track of both your expenses and all the time you spend working on settling the estate, as you’re entitled to be compensated.
You should look for a Will. You’ll need access to several certified copies of the death certificate. You must notify financial institutions, including the bank, credit card companies and any investment firms. Be sure to inform the Social Security Administration, and know that you’ll need the deceased’s social security number to do so. Try to find a copy of the most current tax return, a birth certificate and any other important documentation.
There are other, practical things to do, too. If you didn’t live with the deceased and there is now an empty property, you should secure it by changing the locks. You’ll want to take a detailed inventory of all his or her belongings. We’ll go more into detail about this below below, but you’re going to need to open a estate checking account. This will be in the estate’s name – you’ll be paying for things like final bills, court costs, potential lawyer’s fees and more from this account.
Once you have these basic documents and tasks done, you should make one master list of contacts that includes all business associates and colleagues, anyone named in the Will, neighbors, friends, relatives and others.
You may or may not need a lawyer. If an attorney is needed due to dispute, complexity or just for peace of mind, it’s important to remember that the process can become drastically more costly once attorneys are involved. To mitigate some of the cost, some opt to just hire an attorney to coach them along the way.
It was thought – in the past – that only the very wealthy had what’s known as “an estate.” The truth is, however, that even if you don’t have a 6 figure savings account or own a mansion, you likely do have an estate you’ll one day leave behind. And when that time comes, whether you’ve prepared for it or not, your estate will need to be settled.
1. Probate Lawyers Jim Thorpe Pa – Definitions
In United States law and terminology, “probate” refers to proving that a will is valid. In many U.S. states, a person would petition the court for probate, and then add the will that is to be considered to their petition.
Once probate is approved by the court, the petitioner officially becomes the Executor and then has full legal rights to be able to deal with the deceased individual’s estate.
2. Probate Lawyers Jim Thorpe Pa – Misunderstandings
Although some states do have onerous Probate procedures (where “avoiding probate” may be a prudent strategy), Pennsylvania is not one of those states, In fact, Pennsylvania is very “Probate-Friendly.”
The most common misconception that surrounds a Pa Last Will is the process called “Probate” and the seemingly universal theme that it should be avoided at all costs. Again, and virtually to the contrary, the word “Probate” is merely based on the Latin infinitive verb that means “to prove.” Nothing more!
Probate Lawyers Jim Thorpe Pa – Register of Wills
1. Probate Lawyers Jim Thorpe Pa – Documents
You will need the following documents:
- Original Will
- Original Death Certificate
- Petition For Probate
- Estate Information Sheet
- Probate Fee
At the Register of Wills Office, the PA Executor will take an oath and be sworn in as the Executor to the estate. Furthermore, the executor will pay probate fees. These fees depend on the size of the PA Estate.
2. Probate Lawyers Jim Thorpe Pa – Location
- Carbon County Pa Register of Wills
- 4 Broadway
- Jim Thorpe, PA 18229
- Monday thru Friday 8:30 am to 4:30 pm
- (570) 325-2261
3. Probate Lawyers Jim Thorpe Pa – Short Certificates
A Short Certificate is a legal document that shows the decedent’s name and date of death. It will also show the name of the Executor/Executrix who has been named to handle the affairs of the estate.
- Letters Testamentary (if the decedent had a Pa Last Will; or
- Letters of Administration (if the decedent did not have a Pa Last Will
Having a Short Certificate indicates that one has been appointed by the Register of Wills and has been issued.
Probate Lawyers Jim Thorpe Pa – Executor Duties
To complete the process of settling an estate, I guide individuals throughout Pennsylvania through the Probate and Estate Administration with confidence and efficiency.
1. Probate Lawyers Jim Thorpe Pa – Initial
- Posting bond (if required)
- Filing the Last Will with the appropriate probate court
- Locating beneficiaries
- Finding and assembling assets
- Transferring assets from the deceased to the estate
- Hiring valuation, genealogy or other experts, when appropriate
- Paying creditors and claimants
- Collecting amounts owed to the estate
- Paying current and delinquent taxes as well as estate taxes
- Distributing property to beneficiaries
Executors can easily make mistakes due to inexperience, stress and hasty decisions. This can be costly, as executors can be held personally liable for beneficiaries’ losses. I guide Pa Executors through every step of the probate process, with reliable, detailed advice, so you can settle the testator’s estate as efficiently, quickly and easily as possible.
If there is a Will, it must be filed in the Register of Wills. The beneficiaries need to be notified. If there is a Trust, any successor trustees should also be informed. Other people to notify include: creditors/banks, the post office, the utility companies and any other business the deceased had accounts with.
A smaller detail, but one that will ultimately need to be handled, includes canceling any subscriptions and notifying any agencies that were offering the deceased benefits (i.e. pension plans, etc). The last thing you want to have to be dealing with is returning payments that the estate was not entitled to.
The Pa Estate Settlement process can be long, and it’s often confusing. However, a solid checklist, can show that it’s not as complicated as you first thought. A timeline that details what to expect and when to expect it, you may find it’s actually not as complicated as you first thought.
Especially if you’ve been named as the Pa Executor, you need to understand the estate settling process. This will ensure that the estate is settled properly. This will help to show that all heirs receive their share of the estate. Use the following checklist to feel confident you’ve done everything you need, in this order, to properly settle an estate.
2. Probate Lawyers Jim Thorpe Pa – Inventory & Assets
Take inventory of all assets to see what needs to be distributed. You may want to have high value assets appraised. This will determine whether or not the Estate will owe any taxes. Remember that, as executor, it’s your responsibility to take care of the assets.
3. Probate Lawyers Jim Thorpe Pa – Estate Bank Account
After you have what’s known as the Letters Testamentary (or Letters of Administration), you’ll want to set up an estate bank account. Use this account to collect money that may be owed to the deceased person. You can (and should) use this money to pay off any debts, and expenses.
Probate Lawyers Jim Thorpe Pa – Taxes
1. Probate Lawyers Jim Thorpe Pa – Taxes Intro
File any necessary tax returns and ensure taxes are paid. You may need to file the following:
- Federal Estate Tax (Form 706)
- Pa Inheritance Tax (Form Rev 1500)
- Gift and Generation-Skipping Transfer Tax (Form 709)
- Estate and Income Tax (Form 1041)
- Final Individual Income Taxes (Form 1040)
The Philadelphia Pa Inheritance tax is imposed as a percentage of the value of a decedent’s estate transferred to beneficiaries by will, heirs by intestacy and transferees by operation of law. The tax rate varies depending on the relationship of the heir to the decedent.
The Pennsylvania inheritance tax taxes assets owned by the decedent at the time of his or her death. Unlike the federal estate tax, there is no minimum dollar amount for the estate to be taxed; all estates of any value are subject to taxation. The inheritance tax return is due within nine months of the death of the decedent.
2. Probate Lawyers Jim Thorpe Pa – Intro
The Philadelphia PA Inheritance tax is imposed as a percentage of the value of a decedent’s estate transferred to beneficiaries by will, heirs by intestacy and transferees by operation of law.
The tax rate varies depending on the relationship of the heir to the decedent.
The Pennsylvania inheritance tax taxes assets owned by the decedent at the time of his or her death. Unlike the federal estate tax, there is no minimum dollar amount for the estate to be taxed; all estates of any value are subject to taxation. The inheritance tax return is due within nine months of the death of the decedent.
3. Probate Lawyers Jim Thorpe Pa – Rates
The rates for Pennsylvania inheritance tax are as follows:
- 00.00 percent on transfers to a surviving spouse or to a parent from a child aged 21 or younger;
- 04.50 percent on transfers to direct descendants and lineal heirs;
- 12.00 percent on transfers to siblings; and
- 15.00 percent on transfers to other heirs, except charitable organizations, exempt institutions and government entities exempt from tax.
4. Probate Lawyers Jim Thorpe Pa – Due
Inheritance tax payments are due upon the death of the decedent and become delinquent nine months after the individual’s death. If it is paid within three (3) months of the decedent’s death, a 5 percent discount is granted to the Estate.
In Pennsylvania, the inheritance tax must be paid within nine months of the time of the decedent’s death. If it is not paid within that period of time, the Pennsylvania Department of Revenue may assess penalties and interest.
5. Probate Lawyers Jim Thorpe Pa – Expenses
Frequently, in our practice, we are confronted with many misconceptions concerning Pennsylvania inheritance tax. The Pennsylvania inheritance tax is a tax on property at the time of someone’s death and is imposed upon the transfer of that property. One common misconception is that spouses have to pay inheritance tax on property that they obtain from their deceased mate. Although that was the case in the past, it is not longer, having been abolished in 1994.
From the value of these resources, we are permitted to deduct certain expenses to arrive at a net valuation for the estate. These expenses include:
- the cost of the funeral,
- the debts of the decedent (including mortgage loans, credit cards, home equity loans, etc.),
- the expenses of the last illness,
- all fees that are paid to the Register of Wills Office; and
- the legal fees for processing the estate, and miscellaneous expenses and fees.
Many people do not realize that there are certain types of assets that are exempt from the Pa Inheritance Tax.
- As an example, life insurance proceeds which are paid directly to a beneficiary or are paid to the estate of the decedent are exempt.
- an IRA account held in the decedent’s name, if the decedent had not reached the age of 59 ½, is also exempt.
Sometimes, jointly held property is ignored for tax purposes at the time of death. For example, where a decedent owns a bank account which is titled in the decedent’s name and, let us say, two of his children’s names, the decedent’s one-third interest would be taxed at a rate of 4.5%.
However, if that account was established using only the decedent’s funds, and the decedent dies within one year, then the whole value of the account is taxed, not just a portion of it.
If payment is made within 90 days of the date of death, the department discounts the amount by 5%.
Probate Lawyers Jim Thorpe Pa – Debts
Even though the person who borrowed the debt is no longer living, their debts will still need to be paid off. Luckily, the estate (and not you personally) will pay the debts, so you don’t have to worry about anything other than figuring out what debts are owed to which companies.
Read more about what happens to debt after you die for additional, more detailed information about how to navigate this portion of the estate settlement.
Probate Lawyers Jim Thorpe Pa – Close
After debts and taxes are paid, and if probate is closed (if the estate needed to go through the probate process), then you can distribute assets according to the deceased party’s final wishes.
Once all the above steps have been thoroughly completed, you can finally file a petition for discharge of executor responsibilities and ask the court to formally close the estate.
Probate Lawyers Jim Thorpe Pa – Conclusion
I provide reliable guidance for Pa Testators and Pa Executors. My experience in the probate court, resolving issues related to the validity of wills, enables me to provide practical advice for testators from all walks of life. Similarly, my work in the formation of wills gives us keen insight into how executors should interpret various aspects of a will that may initially seem unclear.
Whether you are a testator formulating an estate plan or an executor implementing a decedent’s wishes, I can simplify many complex aspects of the tasks before you. I offer pertinent and personal legal advice to obtain the results you need in a timely manner with the least stress possible.
