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"Understanding Maryland Inheritance Tax" by Attorney Beth Burgee (Audio) In Maryland, residents pay a 10% inheritance tax on assets passing to beneficiaries who are not exempt from the tax. This tax is an important consideration for anyone planning their estate or expecting to inherit property. Let’s look at some of the issues associated with inheritance tax. What is Inheritance … [Read more...] about Understanding Maryland Inheritance Tax

"Divorce Protection Trusts" by Attorney Cristol Wagner (Audio) Clients often tell us they want to ensure their estate remains within their family regardless of future divorces or blended family situations. One of the biggest concerns for parents is that a child will inherit from them, and then instead of those assets going down the line to their grandchildren, they will go to their child’s … [Read more...] about Divorce Protection for Your Children: Avoiding the Astor Family’s Tragedy

"How Prenuptial Agreements Can Strengthen Your Estate Plan" by Attorney Jon Gasior (Audio) A prenup, short for prenuptial agreement, is a legally binding contract signed by a couple before marriage. The law requires that prenuptial agreements be entered into voluntarily by both parties and not by coercion or undue pressure. The agreement must be fair, reasonable, and entered into with full … [Read more...] about How Prenuptial Agreements Can Strengthen Your Estate Plan

Rewards offered by credit card companies are often the motivators for people to sign up for a particular credit card over another. People spend years accumulating rewards, such as points, miles, and cash rewards. After years of earning these rewards, people often wonder if rewards can be passed along to their heirs. Whether or not a person’s heirs can receive these rewards will depend on the … [Read more...] about What Happens to Credit Card Rewards Upon Death?

"Lessons from The Inheritance Games" by Attorney Beth Burgee (Audio) Estate planning is often seen as a dry, practical task – necessary but not much fun. However, Jennifer Lynn Barnes’ gripping novel, The Inheritance Games, brings the intricacies of estate planning to life in a thrilling, albeit inaccurate, narrative. This young adult mystery centers on Avery Grambs, a teenager who unexpectedly … [Read more...] about Lessons from The Inheritance Games

"Handling Homeowner’s Insurance After Death" by Attorney Alex Pagnotta (Audio) There are many aspects that an Executor must manage after the death of a loved one. And while you are grieving the loss, if there is a house, it is often one of the first places you visit and immediately start thinking…what are my responsibilities? While it may be apparent that the utilities must be paid and the … [Read more...] about Homeowner’s Insurance After Death

Navigating the complexities of trusts for married couples is a common concern in estate planning. You might be wondering whether you and your spouse should establish one joint trust or separate trusts.. Trusts are generally a good strategy if you want a comprehensive, complete, and flexible estate plan. Most people will set up a trust to avoid probate, keep their estate plan private, and make it … [Read more...] about Navigating Trusts For Married Couples

"What Happens to Your Belongings After You Pass Away?" by Attorney Cristol Wagner (Audio) What happens to all of your belongings after you pass away? Your belongings are also called your Tangible Personal Property. When you create a Revocable Living Trust, you assign all your personal property to the Trust. This means that the person you’ve chosen to administer your Trust at your passing, your … [Read more...] about What Happens to Your Belongings After You Pass Away?

It has been quite some time since you came into our office and you are wondering about the process for updating your Revocable Living Trust. Family members have been born or passed away, tax laws have changed, or maybe you are concerned about a beneficiary’s ability to manage their future inheritance. As a reminder, your Revocable Living Trust is a flexible legal tool that allows you to manage and … [Read more...] about How To Update Your Revocable Living Trust

"You Want to Donate Your Body to Science, Now What?" by Attorney Laura Curry (Audio) An important aspect of estate planning is deciding wishes for your last remains which can include donating your body to science. If you want to donate your body to science the Maryland Department of Health offers the State Anatomy Board Body Donation Program to competent Maryland residents 18 or older. Using … [Read more...] about You Want to Donate Your Body to Science, Now What?

"Portability: Estate Planning Hack" by Attorney Beth Burgee (Audio) One of the major concerns many people have when completing their estate plan is estate taxes and portability is one of many tools that can combat this concern. So, what is portability exactly? Portability is an election that can be made under both federal and state tax laws. A portability election allows a surviving spouse … [Read more...] about Portability: Estate Planning Hack

When clients first consider estate planning, they often believe they need a “simple will” because their situation and assets are straightforward. After spending a few minutes discussing their goals, family, and assets it is obvious that their situation is anything but basic. Below are four examples where your estate plan needs advanced planning and guidance from your trusted estate planning … [Read more...] about Four Reasons Why You Need Advanced Estate Planning Now

"Ceasing Automatic Shipments & Payments When a Loved One Passes Away" by Attorney Cristol Wagner (Audio) Many of us have automatic payments coming out of our accounts monthly or even annually that we forget about altogether. When a loved one passes away, how do you track all of that down and make sure those automatic payments and shipments are effectively canceled? The person who has … [Read more...] about Ceasing Automatic Payments and Shipments When a Loved One Passes Away

"Exploring Advanced Estate Planning Strategies" by Attorney Jon Gasior (Audio) Most clients come to our law firm to discuss traditional estate planning tools and strategies such as powers of attorney, wills, and revocable trusts. These are great tools for many families. However, there are additional strategies estate planning attorneys can utilize when clients need more advanced planning … [Read more...] about Exploring Advanced Estate Planning Strategies

"Understanding Your Estate Planning Documents" by Attorney Laura Curry (Audio) Occasionally, as time passes, you may have forgotten or become confused about what each estate planning document you put in place does and when to use it. Your comprehensive estate plan may include a financial power of attorney, health care power of attorney, HIPAA authorization, living will (sometimes referred to as … [Read more...] about Understanding Your Estate Planning Documents

The process of estate planning often involves navigating a myriad of decisions and processes, and one of the misconceptions is that filing your Will with the Register of Wills during your lifetime is a necessary step. Contrary to what some believe, there is no legal obligation to file your Will before you pass away. In Maryland, there is an option to file your Will with the Register of Wills for … [Read more...] about Should I File My Will?