"Clarity is Key to Planning" by Attorney Jon J. Gasior (Audio) When problems arise in an estate plan, often the source is a lack of clarity. Tom Petty died in 2017 and left a fortune estimated by Newsweek to be around $38 million. Petty did some things right, but he could have done better. What did Tom Petty do right? First, he planned. Most people just let nature take its course and fail … [Read more...] about Clarity is Key to Planning
Sending Condolences
"Sending Condolences" by Attorney Colleen Sinclair Prosser Writer Gail Rubin is a wonderful resource to me for her kindness and keen sense of caring during a difficult time in someone’s life, the death of a loved one. Recently, she provided some good advice on how to offer your condolences that I would like to share with you. You don’t need to be an award-winning writer to create an … [Read more...] about Sending Condolences
What is the Augmented Estate?
"What is the Augmented Estate?" by Attorney Jon J. Gasior Over the last several years, the Maryland General Assembly has considered bills that are often called “augmented estate” bills. The question becomes, how will these impact Marylanders, if at all? In order to understand the augmented estate, one must first understand the spousal election. In Maryland a surviving spouse can make an … [Read more...] about What is the Augmented Estate?
Luke Perry’s Estate Plan to Protect His Family
"Luke Perry’s Estate Plan to Protect His Family" by Attorney Victor Lembo The pop culture world was saddened to learn of the death of Luke Perry, who died tragically on March 4, 2019, surrounded by family and friends. Perry, whose full name was Coy Luther Perry, III, rose to fame as he starred on the popular 90’s show “Beverly Hills 90210”. He passed due to a stroke that he suffered just days … [Read more...] about Luke Perry’s Estate Plan to Protect His Family
Aretha Franklin Died Without a Will: What Does this Mean for Her Family?
Aretha Franklin Died Without a Will: What Does this Mean for Her Family? Aretha Franklin was known as the “Queen of Soul.” She was a singer, songwriter, civil rights activist, and so much more. Aretha was a great recording artist, with a career spanning many decades. She received honorary degrees from many prestigious universities, like NYU, Princeton, and Yale. Aretha died on August 16, 2018, at … [Read more...] about Aretha Franklin Died Without a Will: What Does this Mean for Her Family?
Designating a Guardian for Minor Children
Guardian for Minor Children by Attorney Colleen Sinclair Prosser An important part of a comprehensive estate plan is the designation of a guardian for minor children in each parent’s Last Will and Testament. Without such a designation, a court will decide who will care for your children in case of your death or incapacity. When meeting with an attorney to create your estate plan, you will … [Read more...] about Designating a Guardian for Minor Children
Naming a Trust as Beneficiary of an IRA
"Naming a Trust as Beneficiary of an IRA" by Attorney Alexander M. Pagnotta With IRAs and Qualified Plans, after the death of the “Participant” (the lifetime owner), there are required minimum distributions based on the life expectancy of the beneficiary. Often, people think that an individual must be named as the beneficiary of the retirement assets in order to use the beneficiary’s life … [Read more...] about Naming a Trust as Beneficiary of an IRA
Top 5 Estate Planning Goals
"Top 5 Estate Planning Goals" by Attorney Jon J. Gasior (Audio) When you think about creating an initial estate plan, you likely focus entirely on the need to create a roadmap for the distribution of your estate assets in the event of your death. While that certainly will always remain an important estate planning goal. You will undoubtedly include additional goals into your estate plan over … [Read more...] about Top 5 Estate Planning Goals
Estate Planning is Not Just for Your Parents or Grandparents
"Estate Planning is not Just for your Parents or Grandparents" by Attorney Victor A. Lembo Estate Planning is Not Just for Your Parents or Grandparents Often, we think estate planning is just for those who are elderly. While the elderly certainly need to have their affairs in order, estate planning is for anyone who cares what happens to them, their things, or their family. For … [Read more...] about Estate Planning is Not Just for Your Parents or Grandparents
Some Unintended Results of Do it Yourself Estate Plans
With the rise of companies such as Legal Zoom, TotalLegal, Law Depot and Do Your Own Will.com, more and more consumers are attempting to create do-it-yourself estate plans without the assistance of a lawyer. While it is possible to create a Will or other legal documents with the assistance of any of these companies or others, doing so can often lead to unintended results. An example of the … [Read more...] about Some Unintended Results of Do it Yourself Estate Plans
