Timoney Knox News & Articles
Stay abreast of important news about our firm and about legal matters that could affect you.
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Business, Corporate, and Tax Law
Proposed Treasury Regulations Seek to Limit Valuation Discounts
After years of speculation, the Treasury Department has issued proposed regulations aimed at restricting valuation discounts commonly used in estate and family business planning.
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Family Law
Divorce: The Rules Have Changed
Under current Pennsylvania divorce law, if only one spouse wants a divorce, there is a two-year separation waiting period before a divorce can be finalized.
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Education Law
What Is The Meaning Of Educational Benefit Under The IDEA?
In May 2016, the United States Supreme Court asked the U.S. Solicitor General’s office to provide information and an opinion on whether the Court should review a case concerning the level of…
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Wills, Trusts, and Estates Law
Living Will/Healthcare Directive: Are You a Responsible Adult?
Growing up means making responsible decisions — like planning for retirement, budgeting your time and money, and protecting your future.
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Business, Corporate, and Tax Law
Protect Your Identify: Scam Phone Calls
Yesterday I received a call from a person claiming to be from my credit card company. The caller identified my bank and said he was calling about my _____Card.
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Business, Corporate, and Tax Law
Data Breach Preparedness
The risk of large-scale data breaches will continue to affect businesses of all sizes in 2016. Such breaches may not only require affected companies to incur a great deal of time and expense, but…
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Business, Corporate, and Tax Law
Common IRS Scams to Avoid
IRS tax scams continue to be on the rise. Following the emergence of new variations of widespread tax scams, the Internal Revenue Service has issued another warning to taxpayers to remain on high alert and protect…
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Wills, Trusts, and Estates Law
Affordable Care Act: Impact on Trusts and Estates
The impact of the Affordable Care Act, known colloquially as Obamacare, is still being sorted about across many segments of the American economy.
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Family Law
One School District + Shared Custody = Two Bus Stops
On August 26, 2015, the Supreme Court of Pennsylvania held that the Public School Code requires that a school district provide free transportation to a student whose parents share…
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Employment Law
Paid Sick Leave Becomes Law in Philadelphia
On February 12, 2015, Mayor Nutter signed into law a paid sick leave bill that passed City Council by a vote of 14-2. The new law, which will apply to Philadelphia businesses with…
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Employment Law
Little League or School Volunteer this Spring? You Might Need a Background Check
It’s almost sign up time for Little League and plans are being made for school activities for the Spring. If you are a parent who hopes to be involved in these activities with your son or daughter,…
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Wills, Trusts, and Estates Law
Power of Attorney in Pennsylvania: Changes to the Law
You may have heard that the law governing Power of Attorney in Pennsylvania has changed. Act 95 was enacted on July 2, 2014. Learn More.
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Business, Corporate, and Tax Law
Buy/Sell Agreements: A Business Essential
For many years, three accountants – a man in his 70s who founded the practice, a woman in her 60s and a “junior” partner in his late 30s – owned and operated a busy tax and accounting firm…
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Business, Corporate, and Tax Law
Protecting Inherited IRAs from Creditors
Who is the beneficiary of your IRA? It’s likely your spouse or children, but you may want to change that in response to a recent United States Supreme Court case. On June 12, 2014, the Supreme…
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Wills, Trusts, and Estates Law
The Irrevocable Life Insurance Trust (ILIT): Avoiding Taxes on Life Insurance Proceeds
Did you realize that all of the policy proceeds will be included in your estate for federal estate tax purposes at your time of death?
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Wills, Trusts, and Estates Law
Special Needs Children and the Beneficiary Designation Trap
We focus in on one of the many potential issues facing parents of special needs children that can be solved by use of a special needs trust.
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Family Law
Governor Signs New Strengthened Child Abuse Laws
Gov. Tom Corbett recently signed additional reforms to the state’s child protection laws, building on earlier efforts in December toward significantly strengthening Pennsylvania’s child abuse…
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Business, Corporate, and Tax Law
The Advantages of Intra-Family Lending
With the anticipated transfer of the most significant wealth from one generation to the next in the coming years, and many families finding their children and/or grandchildren or other family members…
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Wills, Trusts, and Estates Law
Special Needs Trusts: Planning for a Disabled Child
Special needs trusts, also called supplemental needs trusts, are legal devices used to supplement government benefits.
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Wills, Trusts, and Estates Law
How to Choose an Executor for Your Estate
Choosing the right executor can mean the difference between a harmonious, efficient process and a protracted, hostile one.
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Business, Corporate, and Tax Law
Should Your Company Consider Regulation A+?
The Securities and Exchange Commission recently released long-awaited rules and forms related to the offer and sale of securities as mandated by Title IV of the JOBS Act, a move that could..
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Business, Corporate, and Tax Law
Department of Labor Audits: What You Need to Know
What Are Wage Hour Audits? A wage and hour audit can hit a business at any time and without prior notice. Though wage-hour audits are typically the…
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Family Law
New Pennsylvania Child Abuse Laws Take Effect
Just two weeks ago, Governor Corbett signed into law a bill that toughens the penalties for child abuse and failing to report it – a long-awaited measure that has been in the works since the abuses…
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Business, Corporate, and Tax Law
Common Mistakes to Avoid When Incorporating
With all the information and resources available on the internet, it’s never been easier to incorporate your business. But, with the dizzying array of resources at our fingertips, it is critical…
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