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Michael Cherewka

Michael Cherewka

Law Office of Michael Cherewka
  • Business Law, Estate Planning, Real Estate Law ...
  • Pennsylvania
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Biography

With my background in accounting as well as law, I can share my unique background and experience when working with individuals, families and small and mid-size businesses in the areas of estate planning, taxation, corporations and business planning, business acquisitions and sales, succession planning, business exit strategies and real estate.

Practice Areas
    Business Law
    Business Contracts, Business Dissolution, Business Finance, Business Formation, Franchising, Mergers & Acquisitions
    Estate Planning
    Guardianship & Conservatorship Estate Administration, Health Care Directives, Trusts, Wills
    Real Estate Law
    Commercial Real Estate, Condominiums, Easements, Eminent Domain, Homeowners Association, Land Use & Zoning, Mortgages, Residential Real Estate
    Tax Law
    Business Taxes, Estate Tax Planning, Income Taxes, Property Taxes, Sales Taxes, Tax Appeals, Tax Planning
    Probate
    Probate Administration
    Elder Law
Fees
  • Free Consultation
Jurisdictions Admitted to Practice
Pennsylvania
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U.S. Supreme Court
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Languages
  • English: Spoken, Written
Professional Experience
Owner
Law Office of Michael Cherewka
- Current
Owner of law firm dedicated to Estate Planning, Trusts and Estates Administration, Business Planning for small to mid-tier businesses including choice of entity, acquisitions and sales, business exit strategies and succession planning
Education
Dickinson School of Law
J.D.
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Honors: cum laude Woolsack Society
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Bucknell University
B.S. | Accounting
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Honors: cum laude Delta Mu Delta Omicron Delta Kappa College Register
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Awards
Distinguished Service Award
American Heart Association
Professional Associations
Pennsylvania State Bar
Member
Current
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Alliance of Merger & Acquisition Advisors
Member
- Current
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Elder Care Matters Alliance
Member
- Current
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Wealth Counsel
Member
- Current
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Publications
Articles & Publications
Strictly Business
Quantum Press
Speaking Engagements
How To Close An Estate, Mechanicsburg , Pennsylvania
Pennsylvania Bar Institute
Handling Real Estate Transactions From Start to Finish, Harrisburg , Pennsylvania
National Business Institute
Certifications
Pennsylvania Real Estate Broker License
Pennsylvania Bureau of Professional & Occupational Affairs
Websites & Blogs
Website
Cherewka Law
Legal Answers
98 Questions Answered
Q. Question regarding priority of claims and a home equity loan that was in both dad and mom's name when dad passed.
A: Two different questions here. PA Inheritance Tax return you usually report assets in decedent's name alone at 100% of value, and then there is a Joint Asset schedule where (in case of husband and wife) you would report 1/2 of total of joint assets. The credit card would be deducted as debt at 100% of balance due, and the mortgage on house at 1/2 of the balance due. Also deduct funeral expenses, etc. Since dad died intestate not all of the assets automatically go to mom. you and your siblings may be entitled to a portion of the estate, and if so, any net estate at that point is taxable at 4.5% as to credit card it appears there are sufficient assets to pay it, but you would want to calculate the net estate, and you could argue that there is no liquidity and negotiate a lower payoff with the credit card company. 50% of balance would not be uncommon with the above figures
Q. If my sister and I inherited our father's house, how should I go about having a new deed created?
A: You indicate that you inherited the house. How you inherited it will determine if the process is simple or a bit more complicated. If your father's Deed was joint deed with you and your sister (Joint with Right of Survivorship) it may be as simple as filing a PA Inheritance Tax Return to pay that tax on the value of the house (usually the assessed value) and then a new Deed (usually $250 to $350 to prepare a new Deed). If the Deed is only in your father's name, you and your sister will have to probate his Will (or if no Will open an estate administration) and that will be more complicated, take longer and be more expensive. You should consult with an experienced estate attorney to help you work through this.
Q. If I am listed on a relative’s bank account and I and that relative are PA residents, if I die what happens?
A: it depends on how you are "listed". You can be an authorized signer or a POA, and in these cases there are no issues if you predecease your relative. On the other hand, you may be a joint owner of the account, which has different consequences for your "estate" depending on whether you are a joint owner with right of survivorship or a tenant in common.
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Contact & Map
624 North Front Street
Wormleysburg, PA 17043
Telephone: (717) 232-4701
Telephone: (717) 232-4701