"How to Avoid Probate for Real Estate" by Attorney Laura Curry (Audio) For many people, their home is one of their largest assets and also the most difficult to convey to a beneficiary without it going through the court probate process at the time of your death. The two main ways to have your house avoid going through probate is having it titled in the name of your living trust or a life estate … [Read more...] about How to Avoid Probate for Real Estate
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Comparing the Roles of Trustees and Personal Representatives
The differences between the role of a trustee and the role of a personal representative can be confusing because the lines often blur. These two roles are often fulfilled by the same person and have similar duties. However, there are also differences that are important to know when one is carrying out either of these roles. First, let us take a look at what exactly both of these roles are. … [Read more...] about Comparing the Roles of Trustees and Personal Representatives
Is a Professional Trustee the Best Choice?
"Is a Professional Trustee the Best Choice?" by Attorney Ayana Johnson (Audio) One of the most popular additions to a well-rounded and comprehensive estate plan is a trust. If you are considering the addition of a trust to your estate plan, one of the decisions you will need to make is who to appoint as your Trustee to administer your trust. The Annapolis trust attorneys at Sinclair Prosser … [Read more...] about Is a Professional Trustee the Best Choice?
What is the Maryland Trust Act?
The Maryland Trust Act went into effect in 2015, passing a version of the Uniform Trust Code. Prior to that, most of Maryland’s trust laws were based on case law and not actually codified into a statute. The Maryland Trust Act provided a set of default provisions that apply to all trusts. There are some provisions that are mandatory and apply regardless of what the trust terms states and … [Read more...] about What is the Maryland Trust Act?
Estate Planning for a New Baby
"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
25 Years with WNAV
"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?
"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 Can You Purchase with a Special Needs Trust?
If you are the parent of a child with special needs, the importance of careful and comprehensive estate planning is significantly heightened. Like all parents, you undoubtedly want to protect and provide for your child to the best of your ability. Incorporating a special needs planning component in your estate plan is one excellent way to do just that. Within your special needs plan, you may … [Read more...] about What Can You Purchase with a Special Needs Trust?
What Assets Should I Put In My Revocable Living Trust?
"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?
Can I Prevent Someone from Contesting My Will?
"Can I Prevent Someone from Contesting My Will?" by Attorney Alexander Pagnotta (Audio) For most people, a primary motivation for creating a Last Will and Testament is to ensure that their estate assets are distributed according to their wishes after they are gone. If that Will is invalidated, however, the State of Maryland ultimately decides what happens to your assets. Knowing that it seems … [Read more...] about Can I Prevent Someone from Contesting My Will?
Is Formal Probate Required?
"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?
Why Does Probate Take So Long?
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?
Capital Gains Taxes and Trust Assets
"Capital Gains Taxes and Trust Assets" by Attorney Alex Pagnotta (Audio) One of the most common additions to a well thought out estate plan is a trust, due in large part to the fact that a trust can accomplish such a wide range of estate planning goals. Because a trust is a separate legal entity, a trust can own taxable assets, including real property. The Annapolis trust attorneys at Sinclair … [Read more...] about Capital Gains Taxes and Trust Assets
Do You Have a Living Will?
When you are engaged in the process of estate planning, you are going to arrange for the eventual transfer of your monetary assets. This is often done through the execution of a last will and testament or a trust. The last will that is used to transfer assets is not the only type of will that exists. There is another type of will called a living will. The living will is an important estate … [Read more...] about Do You Have a Living Will?
Do I Need To Update My Estate Plan?
"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?
Estate Planning Mistakes
"Estate Planning Mistakes" by Attorney Colleen Sinclair Prosser (Audio) Creating a well thought out estate plan is one of the best gifts you can give to yourself and to your loved ones. If you are new to estate planning, however, it is easy to make a mistake. To help prevent you from making one of those mistakes, the Bowie estate planning attorneys at Sinclair Prosser Gasior discuss the top … [Read more...] about Estate Planning Mistakes
Prepare for Probate
The process of probate is often overlooked by people who don't know much about estate planning. If you haven't done any research, you may assume that a will is something that takes care of itself after you die. You name an executor in the document, and this individual will distribute assets in accordance with your wishes without any particular supervision. This is a commonly held belief, but in … [Read more...] about Prepare for Probate
