"Estate Planning Mistakes" by Attorney Colleen Sinclair Prosser (Audio) Creating a well thought out estate plan is one of the best gifts you can give to yourself and to your loved ones. If you are new to estate planning, however, it is easy to make a mistake. To help prevent you from making one of those mistakes, the Bowie estate planning attorneys at Sinclair Prosser Gasior discuss the top … [Read more...] about Estate Planning Mistakes
Three Things a Living Trust Won’t Accomplish
Before we get into the objectives that a living trust cannot accomplish, let's look at a few of the things that a living trust can do for you. The Basics If you were to create a revocable living trust, you would be called the grantor of the trust. You would not be surrendering control of the assets that you convey into the trust, because the trust is revocable. At any time, you could choose … [Read more...] about Three Things a Living Trust Won’t Accomplish
What is the Most Important Estate Planning Document?
As an estate planning attorney, I have dozens of tools I can utilize to assist my clients in their estate planning goals. These documents take all different forms and serve specific purposes. So the question becomes, which document is the most important? Estate planning is all about the client’s goals. I have prepared incredibly complex documents for clients with modest estates due to … [Read more...] about What is the Most Important Estate Planning Document?
Tax Law Changes for 2022
"Tax Law Changes for 2022" by Attorney Jon J. Gasior (Audio) Since 2011, the federal estate tax has changed at the beginning of each New Year. As such, it is important to review the estate tax landscape both at the federal and state level. Below, we will discuss the estate planning tax laws. First, in Maryland there is a $5 million estate tax exclusion. What that means is that if you pass … [Read more...] about Tax Law Changes for 2022
Is a Corporate Trustee the Right Choice for Me?
One of the most popular additions to a well-rounded and comprehensive estate plan is a trust. If you are considering the addition of a trust to your estate plan, one of the decisions you will need to make is who to appoint as your Trustee to administer your trust. For many people, having a professional or corporate trustee is a good option for several reasons which we will discuss … [Read more...] about Is a Corporate Trustee the Right Choice for Me?
Estate Planning for Young Adults
There is a common misconception that not everyone needs an estate plan. Oftentimes, their reasoning is that they may be too young, or don’t have enough assets to plan for. This couldn’t be further from the truth. Every adult needs an estate plan regardless of their age or assets. Let me demonstrate with a few examples. Michael is 19 years old. He is unmarried, has no children and owns a … [Read more...] about Estate Planning for Young Adults
Ethical Considerations in Estate Planning
"Ethical Considerations in Estate Planning" by Attorney Jon Gasior (Audio) The relationship between an estate planning attorney and their client(s) is one that is unique among the attorney-client relationship. Often, the client is sharing information with the attorney about their assets, families, potential conflicts, and wishes for what happens when they pass away or are incapacitated. Because … [Read more...] about Ethical Considerations in Estate Planning
Considerations Before Starting Your Estate Plan
During the process of creating your estate plan, you will be forced to make difficult decisions. It is important to take the time to think about your decisions carefully. Let’s talk about the things you will want to consider before starting your estate plan. What do you want to accomplish with your estate planning? Who do you want to pass your assets to? Do you have specific wishes … [Read more...] about Considerations Before Starting Your Estate Plan
Should I Have An Estate Plan If I’m Single?
There is no question that estate planning is often talked about in terms of planning for married couples and families. However, in many ways, estate planning for a single person is more complex than for a married couple. For many married couples, the spouse is the person they trust to make decisions about the disposal of assets and management of medical and financial decisions if they become … [Read more...] about Should I Have An Estate Plan If I’m Single?
Why Legacy Planning Is Important
You probably know why it is important to have an estate plan in place; however, do you know what legacy planning is? The idea behind the concept of legacy planning is to take estate planning to the next level. Legacy planning allows you to incorporate your ideals, beliefs, values, and faith into your estate planning endeavors. Instead of simply leaving behind assets, legacy planning lets you … [Read more...] about Why Legacy Planning Is Important
