Creating a good estate plan is one of the most powerful gifts you can give yourself and your loved ones. Once you have created that plan, however, keeping it safe and making sure the documents that comprise that plan are accessible are equally important. We the Owings Mills estate planning attorneys … [Read more...]
How Do I Title Thee…Part 1
We often consider Estate Planning documents such as a Will, Trust, Property Power of Attorney, and health care documents to be the building blocks of an Estate Plan. While a necessary and important part of Estate Planning, thinking of the documents as the starting point for an Estate Plan skips … [Read more...]
What Makes a Will or Trust Invalid
Clients often worry about the execution of their plan after death. Sometimes, individuals fail to see their complicity in the destruction of their plan. Numerous ways exist to invalidate an Estate Plan. A qualified Estate Planning attorney takes safeguards to protect the plan. Read on to learn more. … [Read more...]
Estate Planning – Something You Shouldn’t Do Yourself
It’s tempting to think that by taking the time to hand-write your Will or preparing a do-it-yourself plan, you can avoid many of the issues that arise with a Will. In fact, the opposite may be true. By handwriting your Will or preparing a do-it-yourself plan, you may be creating more issues for your … [Read more...]
Trusts: Common Myths and Misperceptions
A comprehensive estate plan will typically include a wide range of estate planning tools and strategies to fulfill all your various estate planning goals. Although a Last Will and Testament often serves as the foundation, or only component of an estate plan, another common estate planning tool is a … [Read more...]
Application of the Updated Life Expectancy Tables
Since the creation of Individual Retirement Accounts in 1971, they have become an increasingly important part of a well-balanced Estate Plan. Taxpayers contribute to the IRA. Upon attaining a certain age, the taxpayer begins taking distributions based upon tables promulgated by the Internal Revenue … [Read more...]
Start 2022 the Right Way
The New Year gives us an opportunity to start fresh. If you don’t yet have an estate plan, now’s a great time to make an appointment with an Estate Planning attorney to talk about your goals and concerns. If you already have one, the New Year gives you an opportunity to review it to ensure that it … [Read more...]
Why Use a Trust for Charitable Gifting in Your Estate Plan?
If you are someone for whom charitable gifting is a way of life, you probably have several charities that are dear to your heart and to which you donate on a regular basis. Your charitable gifts may even be dependent on to keep the charity afloat. If so, you likely want to make sure your support … [Read more...]
Intentionally Defective Grantor Trust: Why Create One?
One of the many estate planning tools used to protect and manage assets is a trust. If you own valuable assets, you should also be concerned about the impact that federal gift and estate taxes could have on your estate after you are gone. In that case, you may want to establish an Intentionally … [Read more...]
The Importance of Insuring Real Estate
Transferring real estate to a trust has become a widely used tool in estate planning. Unfortunately, it’s easy to overlook important aspects of the transfer that lead to unintended consequences. With careful planning, you can avoid these traps. Read on to learn more. … [Read more...]
