If you haven’t yet taken the time to create an estate plan, you may assume that you don’t really need a plan. Many people incorrectly assume that a plan is not needed; but, the truth is, it is! Take a look at 3 more reasons why most people need an estate plan. If you have any questions, or if you’d like to commit to your estate plan affairs, contact an estate planning attorney. A plan makes … [Read more...] about Six Reasons Most People Need an Estate Plan – Part 2 of 2
Six Reasons Most People Need an Estate Plan, Part 1of 2
If you haven’t taken time to consider the use of an estate plan, you may have been unsure whether you actually need a plan. The truth is most people do need a plan. Without a plan, there is no protection in place for the future. Take a look at the following 6 reasons why most people do need a plan. If you have any questions, or if you’re ready to create your estate plan, contact an estate … [Read more...] about Six Reasons Most People Need an Estate Plan, Part 1of 2
5 Ways to Leave a Legacy with Estate Planning
Legacy planning is a rewarding aspect of estate planning. It’s truly a feel good, I love you planning. Legacy planning is about passing on a part of who you are to those you love. Here are 5 ways to leave a legacy. You certainly are free to develop your own legacy. Creativity is encouraged. Leave an Ethical Will: An ethical will is like a love letter. You write whatever you want to express … [Read more...] about 5 Ways to Leave a Legacy with Estate Planning
Attorney Colleen Sinclair Prosser on being a member of the American Academy of Estate Planning Attorneys
The American Academy of Estate Planning Attorneys (AAEPA) requires its members to take 36 hours of continuing education each year. This requirement allows the AAEPA to keep its members educated and informed on estate planning matters. As a member of the Maryland Bar Association, once I graduated from law school and passed the bar exam, I am not required to take continuing education classes to … [Read more...] about Attorney Colleen Sinclair Prosser on being a member of the American Academy of Estate Planning Attorneys
What is Hospice?
Rather than a place to receive medical care, hospice is an approach to medical care for patients nearing the end of life. Its goal is to enhance the quality of life for patients with terminal illness. Hospice focuses on pain management and symptom relief, while addressing the patient’s emotional, social and spiritual needs – as well as those of family members. Hospice lets patients and … [Read more...] about What is Hospice?
Estate Plans – Like Life – are Ever Changing
Once you set up your estate plan you can put it aside, pat yourself on the back and congratulate yourself for accomplishing an important step in securing your financial future and the future of your loved ones. However, every once in a while you will want to pull out your estate planning documents and review them. My rule of thumb is to review your plan with your attorney every five years. Some … [Read more...] about Estate Plans – Like Life – are Ever Changing
A Power of Attorney is an Essential Piece of Your Retirement Planning
A Power of Attorney is a legal document that only works for you while you are alive. You name a person, usually a family member or friend, to step into your shoes to handle your financial or medical affairs when you are unable to do so yourself. Did you realize that you can not automatically access your spouse's IRA or TSP if they are incapacitated? You do not want to go to court to access these … [Read more...] about A Power of Attorney is an Essential Piece of Your Retirement Planning
Gifting – A Powerful Estate Planning Tool in Maryland
While we know the act of giving is a very personal thing, gifting part of your estate to lower your estate taxes may be a good idea. In Maryland gifting is a very powerful estate planning tool and the results can be rewarding. Unlike the Federal Estate tax, when you transfer assets out of your Maryland estate, the asset is not brought back into your estate for Maryland estate tax … [Read more...] about Gifting – A Powerful Estate Planning Tool in Maryland
Understanding Incapacity Planning, Part 2
If you have yet to begin your incapacity planning, now is the time to do so. Don’t allow your fears, uncertainty, or busy lifestyle, keep you from planning. Without incapacity planning in place, you will have no control; the court will take charge. Please take a look at answers to the following frequently asked questions, to better understand this planning technique. If you have any … [Read more...] about Understanding Incapacity Planning, Part 2
FAQ: Understanding Incapacity Planning (Part 1 of 2)
Incapacity planning is an estate planning technique that every adults needs if he or she wants to stay in control of medical decisions and finances; however, it’s often overlooked. Take a look at answers to the following frequently asked questions, to learn more. If you have any questions, or if you’d like to implement incapacity planning, contact an estate planning attorney. What types of … [Read more...] about FAQ: Understanding Incapacity Planning (Part 1 of 2)
