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Michael Jordan is a household name around the world, but did you know he is one of the most prominent figures when it comes to taxes and sports? Professional athletes and other individuals who work alongside sports teams are taxed when they visit a state to play an opposing team. This is often referred to as the “jock tax” and it is imposed in almost every state. So what does Michael Jordan have … [Read more...] about Michael Jordan’s Revenge Tax

"Barbie's Estate Plan" by Attorney Melanie Marban (Audio) Barbie is a well-known doll manufactured by American toy company Mattel, Inc. Her launch date was March 9, 1959, which makes Barbie 64 years old. As Barbie approaches the age where many Americans consider retirement, she is worried about what may happen to her estate. Here is what I believe would happen if Barbie attended one of our … [Read more...] about Barbie’s Estate Plan

"What is a Uniform Transfer to Minor Act Account?" by Attorney Jon Gasior (Audio) When meeting with clients, I am often asked how to leave money to minor children. Clients want to include their own children, grandchildren, or even nieces and nephews. When these discussions arise, one tool that we will often discuss is the use of an UTMA account. Let’s explore exactly what an UTMA account is and … [Read more...] about What is a Uniform Transfer to Minor Act Account?

"5 Costly Estate Planning Mistakes" by Attorney Laura Curry (Audio) The goal of estate planning is to ensure your assets transition to your loved ones after you pass away. With a comprehensive estate plan, that process will happen in a timely manner and at the least cost to you, while maximizing any tax savings available to you. There is no perfect plan for everyone because each client has … [Read more...] about 5 Costly Estate Planning Mistakes

"Is My Safe Deposit Box the Best Place for Original Estate Planning Documents?" by Attorney Stephanie Blair (Audio) In the event that you become incapacitated or pass away, the individuals named within your estate planning documents to handle your affairs will need access to your original documents quickly. It is crucial that they have access to the documents in order to maintain a steady … [Read more...] about Is My Safe Deposit Box the Best Place for Original Estate Planning Documents?

"The Great Estate Administration Myth: The Reading of the Will" by Attorney Beth Burgee (Audio) It may come as a surprise to many, but Maryland does not have a requirement that there be an official reading of the Will. The reading of the Will is a common misconception that many people hold. Our office even receives frequent calls from family members of a deceased individual asking to schedule the … [Read more...] about The Great Estate Administration Myth: The Reading of the Will

"Darth Vader's Estate Planning Legacy" by Attorney Alicia Balanesi (Audio) If it wasn’t a long time ago, and we weren’t in a galaxy far, far away, then what would have happened to Darth Vader’s legacy? If your family was anything like mine while growing up, hearing the line, “Luke, I am your father” as Vader falls from the screen will forever be imprinted in your memory. While it is hard to … [Read more...] about Darth Vader’s Estate Planning Legacy

"Oddities in Estate Planning: Musical Mayhem" by Attorney Beth Burgee (Audio) Often when people decide to create an estate plan, their first thought is about who they want to leave their assets to rather than how to pass on what they own. However, the type of asset you are leaving can determine how your plan may take shape. One extreme example of this is how musical artists are handling the … [Read more...] about Oddities in Estate Planning: Musical Mayhem

"Alzheimer's Diagnosis? Start Planning Now!" by Attorney Laura Curry (Audio) People diagnosed with Alzheimer’s disease and their families need to address estate planning issues early while the person has sufficient mental capacity to understand the issues and make informed decisions. Here are several tips that are vital estate planning steps that Alzheimer’s patients and their families need to … [Read more...] about Alzheimer’s Diagnosis? Start Planning Now!

"Estate Planning Mistakes to Avoid Making" by Attorney Ayana Johnson (Audio) Creating an estate plan is one of the most important endeavors you will undertake during your lifetime. A well-thought-out estate plan can protect and provide for you and your loved ones. Given the importance of your estate plan, it only makes sense to do everything possible to avoid making mistakes during the creation … [Read more...] about Estate Planning Mistakes to Avoid Making

"Estate Planning for the Child-Free" by Attorney Laura Curry (Audio) A common misconception about estate planning is that the process is only important for couples or individuals with children. However, estate planning is critical for those who are child-free. Deciding who will manage your estate and receive your assets can often be more difficult if you don’t have direct heirs that can step into … [Read more...] about Estate Planning for the Child-Free