Diane K. Foxman

Diane Foxman's practice focuses on estate and trust planning and administration and Orphans' Court litigation. She has particular experience with the many issues and challenges facing the elderly and disabled. Because of her work, clients have avoided hundreds of thousands of dollars in death taxes through effective death-tax planning and tax-efficient administration of trusts and estates. In addition to her estates practice, Diane frequently advises individuals on the formation, operation and sale of closely held businesses, and the tax issues related to the operation of a business. Diane sits on the Board of Directors of the Montgomery County Estate Planning Council and chairs the Membership Committee. She is also a member of the Pennsylvania and Montgomery Bar Associations. She serves on the Elder Law Committee of both associations, as well as the Rules of Orphans' Court Committee of the Montgomery Bar Association. Additionally, she sits on the Temple University General Alumni Association Investment Committee, which manages the association's investment portfolio. Diane has lectured widely on estate and trust planning and administration, and the legal problems related to incapacity, aging and long-term care financing. Diane received her B.A. in psychology from Temple University in 1968. After a twenty-year career as an educational psychologist, Diane attended Temple University School of Law and received her law degree, magna cum laude, in 1992.

Recent Representative Cases:

Estate and Trust Administration/Litigation
*  In an estate administration, Diane developed a plan to minimize the total death taxes payable by a husband and wife through effective use of a technique called a disclaimer. On her husband's death, the surviving wife gave up her right to inherit a portion of her husband's very large estate. As a result, her estate (which was also very large) was not increased, the disclaimed assets passed to the children, and additional tax on the appreciation of the disclaimed assets was avoided in the wife's estate. Since the wife was wealthy in her own right, she did not need the additional inheritance. The children plan to gift some of their inherited wealth to their own children, thereby further minimizing the effect of gift, estate and inheritance taxes on the family.

*  In another case, a client died owning a very large amount of savings bonds, with a significant amount of accrued income. Diane worked with the family to make use of an income-tax election to allocate this accrued income in such a way as to save a significant amount of income tax.

*  Diane represented a local attorney who was serving as executor of an estate in which a disabled family member was to receive an inheritance. Because of the severity of his disability, this beneficiary worked in a sheltered workshop, earning only a few dollars a week. His main source of income was Social Security disability benefits, and his medical care was paid for through medical assistance. If he had received the inheritance outright, it would have caused him to lose his medical assistance. Working with the ARC Trust of Pennsylvania and the Pennsylvania Department of Public Welfare, Diane was able to structure the inheritance in a special needs trust that allowed the beneficiary to keep his medical coverage and use the inheritance to purchase much needed clothing and furniture.

*  In a contested guardianship proceeding, Diane was able to work with the family to achieve successful resolution of a dispute over who would serve as guardian for the mother. By bringing the family together with a guardianship agency, Diane was able to avoid a family crisis and get the agency appointed as guardian.

*  In another case, a mother died leaving two daughters who had a very contentious relationship. Diane was able to counsel her client to work with her sister in the successful sale of their mother's commercial real estate and close out the family business. As a result of her effective management of the family relationship, Diane received several referrals from the attorney who served as executor of the mother's estate.

Business Planning
*  Completed the negotiation and sale of a computer software business and a partnership buy-out.

*  In an argument before the Pennsylvania Board of Finance and Revenue, Diane was successful in getting the Board to reverse a decision of the Department of Revenue, thereby saving the client approximately $45,000 in disputed sales tax, interest and penalty.

Speeches/Publications:

• Guest Lecturer, Legal and Tax Aspects of Owning a Business, Montgomery County Community College, 2005
• Lecturer, Pennsylvania Bar Institute, Fundamentals of Estate Planning
• Lecturer, Structuring Funding Agreements between Public Schools and Parents of Special Needs Students for the Provision of Private Educational Services, to the attorneys of a major Pennsylvania law firm that serves as special education counsel to over 250 school districts, Spring 2005

Professional and Civic Memberships:

• Montgomery County Estate Planning Council
  • Board of Directors
• Pennsylvania Bar Association
  • Elder Law Committee
• Montgomery Bar Association
  • Elder Law Committee
  • Rules of Orphans' Court Committee
• Temple University General Alumni Association
  • Investment Committee

Honors and Awards:

• Temple University Faculty Award for Outstanding Teaching
• American Jurisprudence Awards for Outstanding Performance in Property Law and Civil Procedure
• Magnet Honor Society

Personal Interests:

Travel, volunteer tutoring of children with significant reading disabilities