Huckabee, Weiler, & Levengood, P.C.

February 2018 Archives

Does a tax return have to be filed for someone who dies?

You may think that once you die, all your earthly worries are over. However, the IRS cannot let you pass on without one more tax return. More specifically, the heirs in Pennsylvania are responsible for ensuring the final taxes of a deceased person are filed. While the person who has died will not face any issues if this is not done, his or her estate may be affected.

Do you have a succession plan for your business?

Estate plans include more than just wills and powers of attorney. While these are important, they may not be enough depending on your assets. When you have a small business, you need more than a will passing it along to your successor. Instead, you need to make a succession plan.

What steps do you take to form a general partnership?

One of the first decisions you must make when starting a business in Pennsylvania is what your business structure will be. One of the most common options is a general partnership. This is a business with two or more owners who usually share equally in ownership rights. It is important to understand what you must do legally when forming your business, so you avoid any issues.

Survey: 63 percent of dads spend too little time with their kids

According to the Pew Research Center, dads are spending more time with their kids than they used to. Moms still handle more of the child care, but dads are catching up. Unfortunately, 63 percent of U.S. dads say they spend too little time with their children.

Can I use joint tenancy to pass my inheritance?

A common concern for many parents in Pennsylvania is that their children successfully inherit their assets. To this end, some residents of the Keystone State may decide to set up a joint tenancy account. While it is true that joint tenacy can pass a parent's assets to children, an article from Forbes explains that joint tenacy has some drawbacks that should be considered.

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