"Estate Planning for a New Baby" by Attorney Alexander Pagnotta (Audio) If you are having a new baby, you should speak with an estate planning lawyer to ensure you have taken steps to protect your newest family member. A baby changes your life in many ways, including making you responsible for the care of someone who is dependent upon you for everything. Sinclair Prosser Gasior can assist … [Read more...] about Estate Planning for a New Baby
"Reflections on 25 years with WNAV" by Colleen Sinclair Prosser (Audio) If you have not heard already, my tenure at Sinclair Prosser Gasior is coming to an end. In January of 2019, I stepped down as owner of the firm and Attorney Jon Gasior took over as the principal of the firm. On June 30, I will officially retire from the law firm. For now this is my last radio blog and I want to share … [Read more...] about 25 Years with WNAV
"What is Digital Estate Planning?" by Attorney Laura Curry (Audio) When you think of digital estate planning, you may be thinking of planning for your cryptocurrency. But if you do anything online, such as Venmo, Facebook, frequent flyer miles just to name a few examples, then you have digital assets and want to make sure someone can access them after you pass away. Failing to plan for your … [Read more...] about What is Digital Estate Planning?
"What Assets Should I Put In My Revocable Living Trust?" by Attorney Jon Gasior (Audio) Revocable Living Trusts are an extremely common tool used to create a comprehensive estate plan that provides for probate avoidance and control of assets during lifetime and at death. While the Revocable Living Trust can be one of the most effective estate planning tools, there can be a major downside. If you … [Read more...] about What Assets Should I Put In My Revocable Living Trust?
"Is Formal Probate Required?" by Attorney Beth Burgee (Audio) If you are in charge of administering a decedent’s estate, either because you were appointed in a Will or because you volunteered, you have an important job ahead of you. One of your first responsibilities as part of that job is to determine if the estate must go through formal probate or if an alternative for small estates is … [Read more...] about Is Formal Probate Required?
Finding out that someone has left you an inheritance is certainly welcome news, particularly if you have been struggling financially. As the adage goes, however, you should not count your chickens before they hatch. You may end up waiting for a long time before you receive that inheritance. If the decedent’s estate is required to go through probate, it could take a year or longer before your … [Read more...] about Why Does Probate Take So Long?
"Do I Need To Update My Estate Plan?" by Attorney Jon Gasior (Audio) When I meet with clients to draft their estate planning documents, they often ask about reasons they may need to update their planning in the future. It is important to remember that estate planning is not a one and done process. Over your lifetime, there could be changes in your family or assets and even changes in the law … [Read more...] about Do I Need To Update My Estate Plan?
"Using Life Insurance to Provide Liquidity in an Estate" by Attorney Jon J. Gasior (Audio) Life insurance can be one of the most overlooked tools for estate planning purposes. Oftentimes, younger families will purchase life insurance when they buy their first home or when they have minor children as a way to provide for income replacement if one spouse dies. Occasionally, when those families … [Read more...] about Using Life Insurance to Provide Liquidity in an Estate
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?
"The Advantages of Portability " by Attorney Alex Pagnotta (Audio) When a decedent dies, a federal estate tax return (IRS Form 706) is not required to be filed unless the decedent’s gross estate exceeds their remaining federal estate tax exclusion. In 2022, for someone who has not used any exclusion during their lifetime, this would be $12.06 million. Maryland also has an estate tax, as it … [Read more...] about The Advantages of Portability