Franklin Legal Issues Blog

There are many reasons to update an estate plan. One particularly relevant is the recent passage of the Tax Cuts and Jobs Act. This new law resulted in an overhaul of the tax system that could impact an estate plan in a number of ways.

The increased exemption rate is one example. Trusts, for example, were often structured to help reduce tax obligations. It was not uncommon to create a trust with language transferring the "maximum amount to a credit shelter trust that would not create an estate tax and the rest to my [spouse]." With the previous tax law of the early 2000s, this meant approximately $1 million would go into the trust and the rest would go to the spouse. With the new law, over $20 million could transfer into the trust. This may not be the creator's intention. The creator should review the plan and make adjustments as needed to better ensure the plan reflects his or her wishes.

Across the United States right now, gun rights and legislation is a hot topic. Recent shootings in schools, churches and other public places have ignited this age-old discussion. Should gun control increase or relax?

No matter which side of the debate you fall on, it is important to know what Pennsylvania state law currently regulates guns. Like every other state, Pennsylvania can add its own policies to the federal gun laws already in place.

Gun control is right up there with immigration and marijuana as one of the most highly controversial topics in Pennsylvania and throughout the nation. You may be among those who staunchly defend the right to bear arms and perhaps have one or more firearms in your home. Whether you own guns for hunting purposes or enjoy target shooting as a hobby, or you are in the process of obtaining a concealed carry license, the more you know ahead of time about Pennsylvania gun laws, the better.

This state has some of the strictest firearms regulations in the country. Some of those laws can be confusing and it's best to seek understanding if you're unsure about a particular regulation rather than risk facing weapons charges in court.