REPORTING TO U.S. TREASURY REQUIRED FOR MOST LEGAL ENTITIES

2024-02-16T20:01:37+00:00February 16th, 2024|Business & Contract|

Starting January 1, 2024, many legal entities will have to report beneficial ownership information (BOI) to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) through an electronic filing system at www.fincen.gov/boi. This new reporting requirement is intended to combat money laundering, the financing of terrorism and other illegal activity. What entities are [...]

How Should I Own and Title My Real Estate?

2023-09-25T17:54:36+00:00September 25th, 2023|Uncategorized|

People often buy property with others. For example, newlyweds may buy their first home together, and business partners may purchase a new storefront together. It is important to understand the different ways in which such real estate can be owned and titled. In Pennsylvania, multiple parties can own real estate in one of [...]

CUSTODY & RELOCATION

2023-08-21T15:14:57+00:00August 21st, 2023|Family Law|

Relocation involves situations after the initial custody orders and agreements have been made.  When one parent with custody rights wants to move, the issue becomes whether that move significantly impairs the ability of the nonrelocating parent to exercise custodial rights. The Pennsylvania Child Custody Act provisions concerning relocation are designed to provide [...]

NEW ANNUAL REPORTS REQUIRED FOR PENNSYLVANIA CORPORATIONS AND LIMITED LIABILITY COMPANIES

2023-04-23T18:22:13+00:00April 23rd, 2023|Business & Contract|

Pennsylvania Act 122 This Act became effective on January 2, 2023 and made various changes to the laws governing domestic and foreign entities doing business in Pennsylvania (Title 15 Corporations and Unincorporated Associations).  One of these changes now requires most Pennsylvania entities and also registered foreign entities to file annual reports with [...]

6 BASIC STEPS TO ESTATE PLANNING

2022-08-10T15:30:19+00:00August 10th, 2022|Wills & Estates|

Estate Planning It is important to make sure that your money and property are distributed to your family, loved ones or favorite charity in the way you want when you die.  It is also important to create an estate plan that minimizes taxes (such as estate and inheritance taxes) and minimizes [...]

Need Help Buying or Selling Your Home or Commercial Property?

2021-06-28T19:32:02+00:00June 28th, 2021|Real Estate, Title Insurance|

CTM Settlement Co. is a full-service title company located in Indiana, Pennsylvania.   We can help with all of your real estate transactions both residential and commercial! The first step in a real estate transaction is often the preparation of the Sales Agreement.  This is a contract between the Seller and the Buyer and [...]

President Biden Proposes Major Changes to Estate Taxes

2021-06-23T18:08:53+00:00June 23rd, 2021|Wills & Estates|

First Proposal -Under the current tax system, a federal estate tax is payable based on the net worth of a person at the time of his death. There is a current $11.7 million per-person tax exemption. Therefore, only assets over $11.7 million are subject to estate tax, and if a person dies with [...]

PA Tax Exemption for Family-Owned Businesses

2021-02-07T17:48:15+00:00February 7th, 2021|Wills & Estates|

Are you operating a family-owned business and worried about how to transfer the business to your family members? The transfer of your family-owned business to your family members may not be subject to any PA Inheritance Tax if it meets certain requirements. PA Inheritance Tax is due within 9 months after the date [...]

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