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Annapolis Estate Planning Attorneys

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Paying Expenses of a Decedent

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As an estate planning attorney, I regularly meet with families after a loved one has passed away to discuss the settling of an estate.  One of the concerns I often hear is how to pay the decedent’s expenses and debts.  If you pay for a loved one’s funeral and debts and there are no assets in the probate estate, then you may not get reimbursed for these out of pocket expenses. Let me give you an … [Read more...] about Paying Expenses of a Decedent

Register for FREE Estate Planning Seminars Next Week

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The presentation establishes the necessary components of an effective estate plan. The seminar is presented in a case study format profiling the life of Bill and Mary Jones. Several scenarios are used to relay the impact of estate planning issues relating to probate, disability due to incompetence, protection of government benefits for special needs loved ones, second marriages, unmarried couples, … [Read more...] about Register for FREE Estate Planning Seminars Next Week

Special Needs Trusts

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When you are appointed as the Trustee of a Special Needs Trust, you have a responsibility to know the rules of different public benefits programs.  It is also your responsibility to understand the duties of a Trustee and the rules for distributions, such as how and when to make payments from the trust.  The first part of this article provides an overview of SSI and Medicaid rules and the second … [Read more...] about Special Needs Trusts

The Ins and Outs of Gifting

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Everyday I meet with families and we discuss the estate planning technique of gifting, which can be a valuable strategy to reduce estate taxes.  Gifting can be done on a limited basis or it can be done on a continuous basis as part of an overall plan to reduce estate taxes.  Either way it can be relatively easy. Most people have heard that you can give away $13,000 per year per person, but  … [Read more...] about The Ins and Outs of Gifting

What should my Power of Attorney include?

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A Power of Attorney is a legal document where you name a person to step into your shoes when you are unable to make decisions for yourself.   A Power of attorney may be immediate or having springing powers.  The difference is that if a power of attorney is immediate then it can be used by the agent (the person you designate) the moment you sign the document.  A power of attorney with springing … [Read more...] about What should my Power of Attorney include?