"Estate Tax Update" by Attorney Jon J. Gasior (Audio) Late in 2017, Congress passed the Tax Cuts and Jobs Act. This new tax law changed a number of income tax laws, but it also changed an important estate tax law. Prior to the Tax Cuts and Jobs Act, an individual could exempt up 5.49 Million dollars before their estate was subject to an estate tax. The new tax law increased the exemption up … [Read more...] about Estate Tax Update
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What Services Do Estate Planning Lawyers Provide?
"What Services Do Estate Planning Attorneys Provide?" by Attorney Nicole Livingston (Audio) Estate planning lawyers can provide help to people of all ages who want to ensure they have taken steps to protect themselves, their assets, and their loved ones. You are never too young or too old to make an estate plan and making your plans can go far beyond the simple creation of a last will and … [Read more...] about What Services Do Estate Planning Lawyers Provide?
What if Money is Left to a Minor?
"What if Money is Left to a Minor?" by Attorney Colleen Sinclair Prosser (Audio) The attorneys at Sinclair Prosser Gasior provide assistance with structuring an inheritance you leave behind so heirs or beneficiaries can inherit as quickly as possible and so the inheritance is as protected as possible. There are many circumstances in which your efforts to leave money to a loved one can be … [Read more...] about What if Money is Left to a Minor?
How to Pick a Legal Guardian for Your Kids
"How to Pick a Legal Guardian for Your Kids" by Attorney Jon J. Gasior (Audio) Estate planning and elder law attorneys provide assistance with the key estate planning issues that you must address as you look forwards towards your future. There are many different reasons to create an estate plan, even if you are relatively young and in good health. You never know what tomorrow will bring, so … [Read more...] about How to Pick a Legal Guardian for Your Kids
What are the Most Important Estate Planning Tools to Use?
"What are the Most Important Estate Planning Tools to Use?" by Attorney Nicole Livingston (Audio) An estate planning attorney can assist you in identifying the estate planning tools that are most important for you to incorporate into your plan. There are lots of different tools that can help you to be prepared for the future. The right ones will depend upon your assets, your family situation, … [Read more...] about What are the Most Important Estate Planning Tools to Use?
What Happens to Inherited IRAs?
"What Happens to Inherited IRAs?" by Victor A. Lembo Making an estate plan is vital to leaving a strong legacy and to address issues that can arise when assets transfer to new owners, such as those with retirement accounts. Sinclair Prosser Gasior can provide individuals who are making an estate plan and want to ensure the right person or entity inherits their IRA and their other … [Read more...] about What Happens to Inherited IRAs?
Do You Need Life Insurance?
There are many different issues that you need to consider in making sure your family is provided for. You'll want to ensure that assets pass as quickly as possible to heirs or beneficiaries so they can inherit, which may mean taking steps to avoid the probate process. You'll want to try to reduce or avoid estate tax so your loved ones can receive the largest inheritance possible and you may also … [Read more...] about Do You Need Life Insurance?
Five Reasons to Create a Living Trust Today
"Five Reasons to Create a Living Trust Today" by Attorney Jon J. Gasior (Audio) A living trust attorney can help you to determine if you should create a trust. Living trusts are versatile and valuable legal tools that are often part of estate plans and incapacity plans. They can be used to protect your wealth and to protect your loved ones, although there are some limitations associated with … [Read more...] about Five Reasons to Create a Living Trust Today
How Often Should I Meet with an Estate Planning Attorney?
"How Often Should I Meet with an Estate Planning Attorney?" by Attorney Nicole Livingston (Audio) An estate planning attorney can help you to make updates to your plans for your future. You should make certain that you have plans in place, which means you need to reach out to a lawyer for advice if you haven't already thought ahead about incapacity, end of life issues, asset protection, and … [Read more...] about How Often Should I Meet with an Estate Planning Attorney?
Are Your Bank Accounts Safe?
"Are Your Bank Accounts Safe?" by attorney Victor A. Lembo (Audio) FDIC Insurance Can Cover You with the Right Planning Are you concerned about the safety of your bank accounts? We all want to ensure our money is protected, especially considering fluctuating markets, increased expenses, and challenging family dynamics. The Federal Deposit Insurance Corporation (“FDIC”) is an independent … [Read more...] about Are Your Bank Accounts Safe?
Maryland ABLE Accounts
"Maryland ABLE Accounts" by Attorney Jon J. Gasior (Audio) The ABLE Account is one of the most anticipated special needs planning tools of the last decade and is finally up and running in Maryland. On November 28, 2017, Maryland went live with their ABLE accounts. The Achieving a Better Life Experience Act was signed into law by President Obama in 2014. However, since the passage of the law … [Read more...] about Maryland ABLE Accounts
Tax Law Changes for 2018
There are many changes for 2018. Congress passed a last-minute tax law, which the President signed the last business day before the Holidays. Congress Passes New Tax Law Last week the Senate passed the new tax law, (which had been called the “Tax Cuts and Jobs Act” and due to Senate parliamentarian objections is now ‘An Act to provide for reconciliation pursuant to titles II and V of the … [Read more...] about Tax Law Changes for 2018
Two Common Mistakes with Trusts
"Two Common Mistakes with Trusts" by Attorney Nicole Livingston (Audio) Trusts are incredibly useful tools. But, like other useful tools, they do not fit every circumstance. They must be used appropriately. For example, a hammer is an exceptional tool to use when looking to drive a nail into a wall. But, if you hit the nail with a glancing blow, the nail will bend and you’ll end up with a … [Read more...] about Two Common Mistakes with Trusts
New Tax Bill Awaits President’s Signature
The new tax law has dominated political discussion for months and will likely continue to do so well into 2018. Consequences, both intended and otherwise, are still unclear. But for now, these are the big changes for both individuals and companies. In general, the changes to individual provisions expire at the end of 2025, but the corporate changes are permanent. Taxes for Individuals The … [Read more...] about New Tax Bill Awaits President’s Signature
Estate Planning for Major Life Events
"Estate Planning for Major Life Events" by Attorney Victor A. Lembo Estate planning strategies evolve with time through all stages of life. The focus at Sinclair Prosser Gasior is to help people structure their affairs in preparation of various life events.. When the client is starting out, we may help them establish a basic plan which may include: A Financial General Durable Power of … [Read more...] about Estate Planning for Major Life Events
Client Control is Critical to an Effective Estate Plan
"Client Control is Critical to an Effective Estate Plan" by Attorney Colleen Sinclair Prosser This week, let’s talk about client control and why it is critical to design an estate plan that meet the goals of the client. When a client meets with an attorney, they often have very specific ideas in mind. Some of these ideas may make sense in the real world while others may not. An attorney is … [Read more...] about Client Control is Critical to an Effective Estate Plan
Powers of Appointment – Part 1
"Powers of Appointment - Part 1" by Attorney Nicole Livingston (Audio) Trusts have many potential benefits. One of those benefits is that they can be very flexible. One way to increase the flexibility of a trust is by including powers of appointment. A power of appointment is giving someone the ability to direct the assets of the trust. There are four different ways a power of appointment … [Read more...] about Powers of Appointment – Part 1
