The Maryland General Assembly was busy this past session passing several laws that impact estates and trusts. A major update was done to the Statutory Power of Attorney Act first created in 2010. We encourage all of our clients to schedule a complimentary client review appointment to discuss these changes to your financial Power of Attorney and other important estate planning documents.   A … [Read more...] about IMPORTANT Updates to Maryland’s Power of Attorney Laws

"Should I Rely on AI to Develop My Estate Plan?" by Attorney Laura Curry Taking steps to plan for possible incapacity, and the protection of your assets and beneficiaries when you pass away is a highly personal process filled with emotional subject matter. Estate planning requires the guidance, knowledge, judgment, and trusted relationship of an estate planning attorney, that artificial … [Read more...] about Should I Rely on AI to Develop My Estate Plan?

"Han Solo's Estate Plan" by Attorney Alicia Balanesi (Audio) Welcome back to Part II of the Star Wars Inheritance Series. To read Part I, please click here. Given the ever increasing pace of life, often important items get put on the backburner until a better day.  Getting a Trust prepared or updating your outdated Last Will and Testament seems to be a task that many people don’t mind … [Read more...] about Han Solo’s Estate Plan

Michael Jordan is a household name around the world, but did you know he is one of the most prominent figures when it comes to taxes and sports? Professional athletes and other individuals who work alongside sports teams are taxed when they visit a state to play an opposing team. This is often referred to as the “jock tax” and it is imposed in almost every state. So what does Michael Jordan have … [Read more...] about Michael Jordan’s Revenge Tax

"Barbie's Estate Plan" by Attorney Melanie Marban (Audio) Barbie is a well-known doll manufactured by American toy company Mattel, Inc. Her launch date was March 9, 1959, which makes Barbie 64 years old. As Barbie approaches the age where many Americans consider retirement, she is worried about what may happen to her estate. Here is what I believe would happen if Barbie attended one of our … [Read more...] about Barbie’s Estate Plan

"What is a Uniform Transfer to Minor Act Account?" by Attorney Jon Gasior (Audio) When meeting with clients, I am often asked how to leave money to minor children. Clients want to include their own children, grandchildren, or even nieces and nephews. When these discussions arise, one tool that we will often discuss is the use of an UTMA account. Let’s explore exactly what an UTMA account is and … [Read more...] about What is a Uniform Transfer to Minor Act Account?

"5 Costly Estate Planning Mistakes" by Attorney Laura Curry (Audio) The goal of estate planning is to ensure your assets transition to your loved ones after you pass away. With a comprehensive estate plan, that process will happen in a timely manner and at the least cost to you, while maximizing any tax savings available to you. There is no perfect plan for everyone because each client has … [Read more...] about 5 Costly Estate Planning Mistakes

"Is My Safe Deposit Box the Best Place for Original Estate Planning Documents?" by Attorney Laura Curry (Audio) In the event that you become incapacitated or pass away, the individuals named within your estate planning documents to handle your affairs will need access to your original documents quickly. It is crucial that they have access to the documents in order to maintain a steady … [Read more...] about Is My Safe Deposit Box the Best Place for Original Estate Planning Documents?

"The Great Estate Administration Myth: The Reading of the Will" by Attorney Beth Burgee (Audio) It may come as a surprise to many, but Maryland does not have a requirement that there be an official reading of the Will. The reading of the Will is a common misconception that many people hold. Our office even receives frequent calls from family members of a deceased individual asking to schedule the … [Read more...] about The Great Estate Administration Myth: The Reading of the Will