If you’ve any questions that aren’t answered in our FAQ guide below don’t hesitate to contact us and we’ll get right back to you.

What is a fiduciary?

According to the new CFP Board Code of Ethics and Standards of Conduct that requires a CFP® professional to act as a fiduciary, it means that a CFP® practitioner must act in the best interests of the client, at all times when providing financial advice.

What makes your firm different from other financial advisors?

With his background as a Certified Financial Planner® practitioner and licensed funeral director, Bill is uniquely qualified when it comes to helping people who are retired or near retirement age with issues related to Social Security benefits, receiving long-term healthcare, funding funeral and other final expenses, and estate planning. He has been helping people and their families with these issues for many years.

What is the average cost of a funeral today?

According to the National Funeral Directors Association (NFDA) survey in 2017, the median cost of an adult funeral with viewing and burial was $7,360 without a vault and $8,755 with a vault (not including cash advance items, such as flowers, newspaper notices, gravestone, etc.).

Is a medical exam required to obtain final expense insurance?

No.  There is a simple application, with a few health questions, but a medical exam is not required.

Doesn’t Medicare pay for long-term care in a nursing home?

Medicare only covers up to 100 days of skilled nursing home care if certain requirements are met.

What is meant by “funding” a trust?

It means that for a living trust to work properly and be effective, assets must be placed in the trust or recorded in the name of the trust.

Who pays the inheritance tax?

The beneficiary of money or property received is responsible for paying the inheritance tax.

When is Pennsylvania inheritance tax due?

Pennsylvania inheritance tax is due nine months after death. There is a 5 percent discount if paid within three months.

Are prepaid funeral expenses an asset of an estate or a deduction?

It depends on what the actual costs of the funeral services are at the time of need.  If the actual costs exceed the value of the prepaid contract, the estate would have an additional deduction.  If the actual funeral costs are less than the value of the prepaid contract, the difference is refunded to the family by the funeral home and it is taxable.

Is real estate owned in another state subject to Pennsylvania inheritance tax?

No. Only real estate assets located in Pennsylvania are subject to PA inheritance tax.

Is Pennsylvania a community property state?

No. There are nine community property states and they are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.

Are funeral expenses deductible on the inheritance tax return?

Yes. Funeral expenses paid after death are deductible.

Is life insurance subject to Pennsylvania inheritance tax?

No. Life insurance is not subject to PA inheritance tax.  It is not taxable to the estate.  Proceeds paid out to the beneficiary are also not taxable.

When will unclaimed money or property be turned over to the state in Pennsylvania?

Finding unclaimed money and property can be daunting and very time consuming.  Save yourself time and potential losses in value by knowing when escheatment occurs.  In Pennsylvania, bank accounts and checks may be subject to escheatment after 3 years and wages or salaries after 2 years.