By Bradley S. Dornish
This week, two clients came in with problems which caused me to choose the topic for this article. The first was early in the week, when I had a consultation with a client who had loaned money to a Pittsburgh based wealth building coach. The client hadn’t gotten his money back, and the coach had filed for bankruptcy. Click here to read more »
By Bradley S. Dornish, Esquire
Just last week, after over a year waiting for a second decision from the Pennsylvania Superior Court, I was able to let my client know that we “won” his lawsuit, and he will be able to keep the $180,000.00 property he bought at a Sheriff’s sale for just $60,000.00. Click here to read more »
By Bradley S. Dornish, Esq.
A new year is a time for resolutions to open new businesses or to change the structure of the business you have for asset protection, tax benefits, privacy, retirement and/or estate planning purposes. But before you figure out the changes you want to make, you have to understand the basics about entities. First, what is an entity? It is a separate legal person designed to have an existence apart from you individually. An entity can enter into leases and other contracts, own real estate, sue and be sued in court, all without naming you individually. This is good for most businesses, but especially for real estate investing, where the public records like deeds and mortgages are abundant and easy to track. Click here to read more »
By Bradley S. Dornish, Esq.
The quarterly PROA board meeting was held on the first Thursday of September. Our lobbyists from Pugliese Associates in Harrisburg reported on the status of almost a hundred different bills of interest to landlords and real estate investors which bills are working their way through House and senate committees. The subjects of these bills range from property assessments, to amending the Landlord Tenant Act, to amendments to the Construction Code Act. Click here to read more »
By Charles C. Bell, Esquire and Bradley S. Dornish, Esquire
A number of individuals are considering the use of a Living Trust to “ensure privacy” of their affairs after death, and the belief that this effectuates a substantial savings in probate costs after death. Living Trusts are being publicly marketed as an estate planning tool that is a Will substitute. However, the advertised benefits of a Living Trust as a legal panacea for post-mortem estate privacy, and a major reduction in the cost of probate and fees for estate administration, are grossly exaggerated or non-existent. The purpose of this article is to explain the purpose of the Living Trust, examples of when the use of Living Trust as an estate planning device can be beneficial, but why this legal document does not accomplish the goals of privacy and significant estate administration cost reduction, and is not an effective Will substitute. Click here to read more »
