The older population in the United States has been on the rise for decades now – and is expected to continue to increase in the coming years. Not surprisingly, there has been a corresponding increase in the number of older Americans facing Alzheimer's disease. Consequently, I have noticed an … [Read more...]
10 Step Guide to Creating an Estate Plan
Like many of my clients, you may recognize the need for an estate plan, yet get overwhelmed at the prospect of creating your own estate plan. A well thought out estate plan can provide you with more than just a roadmap for the distribution of your assets after you pass away. It can also protect you, … [Read more...]
5 Reasons to Include a Trust in Your Estate Plan
For many of my clients, a Last Will and Testament serves as the foundation of their estate plan. As they expand their estate plans, additional tools and strategies become necessary to help achieve broader estate planning goals. When it comes time to consider additional estate planning tools, a trust … [Read more...]
Estate Planning for Entrepreneurs
When I talk to my clients who are entrepreneurs, I stress that estate planning takes on unique importance because they are business owners. After spending countless hours building and nurturing their business, their business is likely one of their most significant assets. Protecting that … [Read more...]
What Is a Crummey Notice and How Should a Trust Beneficiary Respond?
Given how popular trust agreements are in the average estate plan, it is not surprising that I frequently consult with clients who are trust beneficiaries. Sometimes, they have received a “Crummey Notice” or “Crummey Letter,” and they (understandably) want to know what it is, why they received it, … [Read more...]
Reasons to Avoid Dying Intestate in Maryland
One of the first things that I discuss with new clients is how important it is to avoid dying intestate because it can create significant legal and financial complications for loved ones. Dying intestate means you have no valid Will or other enforceable plan, like a revocable trust. If you pass away … [Read more...]
How Does a No Contest Clause Work in a Maryland Will?
For most of my clients, the primary motivation for executing a Last Will and Testament or a Revocable Trust, is to ensure that their estate assets are distributed according to their wishes after they are gone. One of the benefits of having a comprehensive estate plan in place is that it decreases … [Read more...]
Will Your Vacation Home Lead to Ancillary Probate?
When helping clients with estate planning, I emphasize the importance of addressing all assets they own or have an interest in, including vacation homes. If your vacation home is located in another state, or even another country, failing to incorporate it into an estate plan can lead to ancillary … [Read more...]
2025 Gift and Estate Tax Changes
It is critical to prepare for upcoming changes to federal gift and estate tax laws in 2025, including adjustments to the lifetime exemption and annual exclusion amounts, as well as the potential consequences of the Tax Cuts and Jobs Act (TCJA) expiration. Understanding these updates is essential for … [Read more...]
A Message from the Murdochs
Art often imitates life and the latest drama surrounding Rupert Murdoch demonstrates that. Most of the time, when an individual creates an irrevocable trust, they part with dominion and control over the assets, and it is difficult to change the terms. Not long ago, Rupert Murdoch filed a petition in … [Read more...]
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