"Why Your Heirs Would Prefer Trusts" by Attorney Alexander M. Pagnotta Estate and trust attorneys can provide you with assistance creating a trust so you are able to provide your heirs or beneficiaries with an inheritance is the simplest and most effective way possible. Trusts provide important protection for you and your loved ones during the course of your lifetime and after your death, but … [Read more...] about Why Your Heirs Would Prefer Trusts
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When a Will Isn’t Enough
"When a Will Isn't Enough" by Attorney Jon J. Gasior (Audio) Estate planning attorneys help you to prepare a legally valid last will and testament. When most people think of estate planning, a last will and testament is the first thing that comes to mind. A will can be an effective and powerful tool that gives you control over who inherits your money and property, but unfortunately creating a … [Read more...] about When a Will Isn’t Enough
Estate Planning for Maryland Motor Vehicles
"Estate Planing for Maryland Motor Vehicles" by Attorney Nicole Livingston One of the most frequent questions received during seminars and consultations is how should I title my Maryland motor vehicle. There are different options for you to consider. If the vehicle is titled in your name alone, then upon your death, the vehicle must go through the probate process for your executor to … [Read more...] about Estate Planning for Maryland Motor Vehicles
Who is in Charge of Trust Administration?
"Who is in Charge of Trust Administration?" by Attorney Victor A. Lembo The trust administration process is generally overseen by the person who the trust creator, or settlor, has named as the trustee upon the trust execution. If the settlor served as the primary trustee of the trust, which is very common, then the settlor should have named a successor trustee to take over trust management in … [Read more...] about Who is in Charge of Trust Administration?
Retirement: It’s Not Just About the Money
"Retirement: It's Not Just About the Money" by Attorney Colleen Sinclair Prosser (Audio) Many factors go into retirement decisions. Often, people are stressed over whether they’ll have enough money or other resources to retire. That’s certainly one factor in retirement. And, given the savings statistics, this might be a factor contributing to retirement stress. According to a survey done in … [Read more...] about Retirement: It’s Not Just About the Money
Why is the Titling of Assets So Important?
"Why is the Titling of Assets So Important?" by Attorney Jon J. Gasior In estate planning the titling of assets is often the most important consideration of how those assets will be distributed upon death. If you have not taken time lately to review how all of your assets are titled and how beneficiaries are designated, it can be a useful exercise. Let’s look at a few examples: Brother … [Read more...] about Why is the Titling of Assets So Important?
Powers of Appointment Part 2
"Estate Planning Basics: Powers of Appointment Part 2" by Attorney Nicole Livingston This blog will examine how powers of appointment they can impact taxation. From a gift and estate tax perspective, there are two kinds of powers of appointment, a limited power of appointment (or “LPOA”), and a general power of appointment (or “GPOA”). They can cause dramatically different gift and estate … [Read more...] about Powers of Appointment Part 2
6 Important Estate Planning Considerations: Retirement Assets
"Important Estate Planning Considerations: Retirement Assets by Attorney Colleen Sinclair Prosser (Audio) Retirement assets may be a very large part of a person’s estate at death. It’s important to consider the income tax ramifications of naming a beneficiary, as well as protecting those assets for the beneficiaries. 6 Important Estate Planning Considerations: Retirement … [Read more...] about 6 Important Estate Planning Considerations: Retirement Assets
Executor Management of Estate Assets
"What Do Executors Need to Know about Managing Estate Assets?" by Attorney Victor A. Lembo (Audio) When you make a Last Will and Testament, you need to consider who you want to serve as the executor, or personal representative, of your estate. The executor will be responsible not only for seeing your Will through the probate process, but also managing your assets. As the probate process may … [Read more...] about Executor Management of Estate Assets
Asset Protection
"Basics of Estate Planning: Asset Protection" by Attorney Colleen Sinclair Prosser When it comes to asset protection much depends upon whose assets you are looking to protect. If the assets are those that are coming to you by inheritance, the debtor, then typically, those can be protected completely. The debtor can protect their own assets in three general ways: 1) insuring against the … [Read more...] about Asset Protection
Estate Planning for Young Families
"Estate Planning for Young Families" by Attorney Jon J. Gasior (Audio) Often I hear people tell me, I do not need any estate planning documents because I am too young, I do not have any assets to worry about! Estate planning is not always about how much money you have and estate tax planning. If you do not have an estate plan in place, each state has its own set of laws that will have a plan … [Read more...] about Estate Planning for Young Families
How Do I Keep My Private Affairs Private?
"How Do I Keep My Private Affairs Private?" by Attorney Victor A. Lembo (Audio) If you want to keep estate affairs private, the attorneys of Sinclair Prosser Gasior can identify legal tools to use and implement different strategies to transfer assets outside of probate. Probate attorneys represent executors of an estate, heirs or beneficiaries, and individuals who attempt to contest a will … [Read more...] about How Do I Keep My Private Affairs Private?
Planning for Incapacity
"Planning for Incapacity" by Attorney Alexander M. Pagnotta (Audio) One of the most important considerations in an estate plan is incapacity planning. This article describes how an estate plan provides incapacity planning and the documents which may be used to accomplish that planning. It also looks at how having a plan in place may relieve stress during an emergency. Often, when people … [Read more...] about Planning for Incapacity
The High Cost of Long Term Care in Maryland – Genworth Report
"The High Cost of Long Term Care in Maryland - Genworth Report" by Attorney Jon J. Gasior The cost of long term care is one of the most significant costs that a family may face in their lifetimes. Each year, Genworth conducts a survey to attempt to gather the most up to date cost of care estimates all over the country. When planning for long term care expenses, it is important to know exactly … [Read more...] about The High Cost of Long Term Care in Maryland – Genworth Report
Basics of Estate Planning: Privacy and Estate Planning
"Privacy and Estate Planning" by Attorney Nicole Livingston (Audio) Privacy is important, especially in today’s world. Learn how estate planning can enhance or reduce your privacy. From the dawn of time, humans have been concerned with privacy. In the biblical story of Adam and Eve, the couple sought the privacy provided by fig leaves as they left the Garden of Eden. When species Homo … [Read more...] about Basics of Estate Planning: Privacy and Estate Planning
How to Leave Your Indivisible Wealth to Your Heirs
"How to Leave Your Indivisible Wealth to Your Heirs" by Attorney Victor A. Lembo (Audio) Most of us own a beautiful heirloom or precious pieces of our family’s history, but what should we do with it? Some of the greatest treasures passed down through generations are pieces of vintage family jewelry. It may be the antique engagement ring with which Grandpa proposed to Grandma or the family … [Read more...] about How to Leave Your Indivisible Wealth to Your Heirs
Basics of Estate Planning: Portability vs. Credit Shelter Trust
"Basics of Estate Planning: Portability vs. Credit Shelter Trust" by Attorney Colleen Sinclair Prosser (Audio) Prior to the advent of “portability,” estate planning attorneys used a “credit shelter trust” as the gold standard to preserve the estate tax exclusion of the first spouse to die. Assets up to the exclusion were placed in the trust for the benefit of the surviving spouse and … [Read more...] about Basics of Estate Planning: Portability vs. Credit Shelter Trust
