"Beneficiary Designations Aren’t a True Substitute for a Trust" by Attorney Colleen Sinclair Prosser (Audio) Transfer on Death (TOD) designations, Payable on Death (POD) designations, and other beneficiary designations can be useful estate planning tools in the right circumstances. Each of these tools allows for an automatic transfer of an asset to the named beneficiary at the death of the … [Read more...] about Beneficiary Designations Aren’t a True Substitute for a Trust
BLOG
Estate Planning Advice After Divorce
"Estate Planning Advice After Divorce" by Attorney Alex Pagnotta (Audio) After a divorce, there are a number of key issues that you need to address as you update your estate plan or create a plan for the first time. Change your estate planning documents, including the last will and testament so your ex-spouse no longer inherits. You probably don't want your ex-husband or ex-wife to inherit … [Read more...] about Estate Planning Advice After Divorce
Estate Planning for Last Remains
"Estate Planning for Last Remains" by Attorney Laura T. Curry (Audio) After your passing, family and loved ones are often left in distress and without direction regarding your preferences. This is why disposition of your last remains is an important part of your estate planning. Your Living Will document will provide clear and specific guidance as to what you prefer in regards to organ … [Read more...] about Estate Planning for Last Remains
Medicaid’s Spousal Impoverishment Rules
Medicaid’s Spousal Impoverishment Rules by Attorney Jon J. Gasior (Audio) Almost half of all seniors currently in long-term care rely on Medicaid to help cover the cost of that care. If you, or your spouse, are facing the need for long-term care (LTC) in the near future, you may also find yourself turning to Medicaid to help. The Medicaid eligibility guidelines and application procedures, … [Read more...] about Medicaid’s Spousal Impoverishment Rules
How Long Does it Take to Probate an Estate in Maryland?
How Long Does it Take to Probate an Estate in Maryland? By Attorney Victor A. Lembo (Audio) At some point in your life, you will likely be involved in the probate of an estate. You may be the Personal Representative for a loved one’s estate, or perhaps you are a legatee under the decedent’s Last Will and Testament. Regardless of the reason for your involvement, you will undoubtedly have … [Read more...] about How Long Does it Take to Probate an Estate in Maryland?
Planning for the Unexpected
"Planning for the Unexpected" by Attorney Colleen Sinclair Prosser (Audio) Death tends to be unexpected. Whether a death is sudden or a result of a long illness, it is best to plan as much as possible for the unexpected. Our law firm helps people plan for death by creating comprehensive estate planning documents such as wills, trusts and power of attorneys. I also encourage my clients to plan … [Read more...] about Planning for the Unexpected
Beware of Deed Scam in Maryland
Beware of Deed Scam in Maryland by Alexander M. Pagnotta (Audio) If you have recently purchased a home or transferred real estate into your Trust, beware of scammers who try and fool you out of at least $90. They try to make you think that you need to purchase the deed and other documentation to your home, when in reality you do not need to pay top dollar for these documents. To combat this … [Read more...] about Beware of Deed Scam in Maryland
Selecting an Agent
Selecting an Agent by Attorney Laura T. Curry (Audio) Agents are arguably the most important people in our legal lives. They step in and make decisions for you when you are unable to act for yourself. They make financial decisions for you under a Financial Power of Attorney and make medical decisions for you when you aren’t able to act for yourself under a Healthcare Power of … [Read more...] about Selecting an Agent
Top Ways to Avoid Probate
Top Ways to Avoid Probate by Attorney Jon J. Gasior (Audio) A comprehensive estate plan should accomplish much more than just creating a road map for the distribution of your estate assets after you have passed away. In fact, a well thought out estate plan often includes numerous inter-related goals and objectives. Among the most common of those additional goals is probate avoidance. If … [Read more...] about Top Ways to Avoid Probate
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
How to Help Loved Ones with Dementia and Driving
Helping Loved Ones with Dementia and Driving by Attorney Laura T. Curry Receiving a doctor diagnosis of dementia is often overwhelming for the individual and their loved ones. Often everyday tasks become more and more difficult and it is challenging to know how and when to stop those daily tasks. Driving is one of those tasks that we often take for granted, and one that the senior members of … [Read more...] about How to Help Loved Ones with Dementia and Driving
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
When Should My Children Accompany Me To My Estate Planning Meetings?
"When should my children accompany me to my estate planning meetings?" By Attorney Jon J. Gasior When setting up an estate plan, one thing that many families struggle with is whether to bring their children to their estate planning consultations. Estate planning consultations can be difficult for many families. The discussion often revolves around death, disability, money, and control of … [Read more...] about When Should My Children Accompany Me To My Estate Planning Meetings?
