"Understanding Maryland Estate and Inheritance Tax" by Attorney Alex Pagnotta (Audio) Understanding Maryland estate and inheritance tax implications is crucial for residents that are planning their estate. Maryland has an estate tax separate from the federal estate tax. To calculate whether or not your estate will owe an estate tax in Maryland, you need to determine the fair market value of … [Read more...] about Understanding Maryland Estate and Inheritance Tax
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Irrevocable Life Insurance Trust
What is an Irrevocable Life Insurance Trust (ILIT)? An Irrevocable Life Insurance Trust (ILIT) can be an important tool in a comprehensive estate plan. An ILIT is a trust created during an insured’s lifetime that owns and controls a term or whole life insurance policy. The trust will also manage and control the distribution of the proceeds that are paid out upon the insured’s death. There … [Read more...] about Irrevocable Life Insurance Trust
Choosing Your Fiduciaries
One of the most important tasks when planning your estate is deciding who you will choose to be your fiduciaries or so-called “decision makers”. These are the individuals you select to make critical decisions if you are unable due to illness, disability, or death. Your fiduciaries are responsible for making decisions regarding your health care and finances. Since each of your decision-makers … [Read more...] about Choosing Your Fiduciaries
The Importance of Coordinating Estate Planning and Financial Advising
"The Importance of Coordinating Estate Planning and Financial Advising"" by Attorney Jon Gasior (Audio) When assisting clients with setting up their estate planning documents, our conversations revolve around who will manage their assets if they are unable, who will inherit their assets when they pass away, and tax avoidance and long-term care planning strategies. Ultimately, we are … [Read more...] about The Importance of Coordinating Estate Planning and Financial Advising
Charitable Giving During Your Lifetime: Maximizing Your Impact
"Lifetime Charitable Giving" by Attorney Cristol Wagner (Audio) Clients are often curious about the best way to donate to charitable organizations during their lifetime. While there is no wrong way to donate, there are a few options for charitable giving that can help minimize income taxes or even reduce the value of your estate to avoid estate taxes while also accomplishing … [Read more...] about Charitable Giving During Your Lifetime: Maximizing Your Impact
Estate Planning for Your Timeshare
"Estate Planning for Your Timeshare" by Attorney Melanie Marban (Audio) You are sold on the marvels of timeshares and ready to relive your favorite vacation for years to come! But what happens when you grow tired of the timeshare, can no longer travel, or when you pass away? What happens if your family does not want it or cannot afford it? Let’s begin with the two ways a timeshare can be … [Read more...] about Estate Planning for Your Timeshare
Death Certificate Mistakes
"Death Certificate Mistakes" by Attorney Beth Burgee (Audio) The passing of a loved one is an emotionally challenging time, and dealing with administrative errors on a death certificate can add an additional layer of stress. It is crucial to address mistakes promptly and accurately. The death certificate is used in multiple aspects of administering a loved one’s estate and is used to verify … [Read more...] about Death Certificate Mistakes
Considerations Before Changing Your Deed
"Considerations Before Changing Your Deed" by Attorney Alexander Pagnotta (Audio) Have you thought about changing your deed to include a child as a co-owner? How about adding your spouse to the deed? If so, then there are a few things to consider before signing on the dotted line and going to the local courthouse to file your deed. While doing a new deed may not seem like an arduous task, it is … [Read more...] about Considerations Before Changing Your Deed
Guardianship: Insights from Jay Leno’s Wife’s Court Proceeding
Jay Leno recently started his legal journey to obtain conservatorship or guardianship over his wife who was recently diagnosed with dementia. The court paperwork shows that he was filing so he could set up a living trust for his wife to manage her assets and provide for her continued care if he died. He is asking the court for permission to create an estate plan because they had not done so before … [Read more...] about Guardianship: Insights from Jay Leno’s Wife’s Court Proceeding
First Steps to Estate Planning
"First Steps to Estate Planning" by Attorney Jon Gasior (Audio) I often get asked the question, "What are the first steps in estate planning and what should I bring to my initial consultation?" The real answer is we do not need you to bring all your financial and asset information to the first meeting. The initial meeting is just a conversation to get to know you, your concerns, and your … [Read more...] about First Steps to Estate Planning
Update on the Corporate Transparency Act: Legal Challenges and Implications
In December, we hosted an online webinar on the Corporate Transparency Act (CTA). The presentation focused on the details of the Corporate Transparency Act and its reporting requirements. Recently, there has been an update to this new legislation. In National Small Business v. Yellen, the U.S. District Court for the Northern District of Alabama ruled that the CTA exceeded Congress’ … [Read more...] about Update on the Corporate Transparency Act: Legal Challenges and Implications
Living Wills and MOLST Forms
"Living Wills and MOLST Forms" by Attorney Cristol Wagner (Audio) What is the difference between a Living Will and a MOLST form? This is one of the most common questions clients ask us when discussing Living Wills and their function as part of a comprehensive estate plan. A Living Will functions in conjunction with a Health Care Power of Attorney. In a Health Care Power of Attorney, you … [Read more...] about Living Wills and MOLST Forms
Estate Planning for Women
"Estate Planning for Women" by Attorney Melanie Marban (Audio) Estate planning shapes the legacy individuals leave behind for their loved ones. While both men and women engage in estate planning, it is essential to recognize the unique challenges and opportunities women face in this process. The dynamics of estate planning for women have evolved over time, reflecting shifts in societal norms, … [Read more...] about Estate Planning for Women
Navigating Maryland Death Certificates
"Navigating Maryland Death Certificates" by Attorney Alex Pagnotta (Audio) When a loved one passes away in Maryland, you may find yourself scrambling for a death certificate. This record of finality provides evidence of an individual's passing and is an important document on many levels. But how do we obtain the death certificate? How quickly can we get it? And who is entitled to apply? These … [Read more...] about Navigating Maryland Death Certificates
Aligning Your Estate and Financial Plans
"Aligning Your Estate and Financial Plans" by Attorney Jon Gasior (Audio) When you meet with an estate planning attorney, the conversation will likely revolve around your assets and your goals for the future. Typically, clients have a few major concerns such as who will manage their affairs if they are unable, who will inherit when they pass away, tax avoidance strategies, and long term care … [Read more...] about Aligning Your Estate and Financial Plans
Lessons from Taylor Swift
"Lessons from Taylor Swift" by Attorney Melanie Marban (Audio) Legacy planning involves determining how you want to be remembered and what impact you want to have on future generations. When it comes to celebrity estates, complexities arise due to the nature of their assets, including intellectual property rights, royalties, real estate, and valuable personal items. Taylor Swift's estate is no … [Read more...] about Lessons from Taylor Swift
A Glimpse into the Estate Planning of J.R.R. Tolkien
"A Glimpse into the Estate Planning of J.R.R. Tolkien" by Attorney Beth Burgee (Audio) In the realm of estate planning, there are few estates as enchanting and enduring as that of J.R.R. Tolkien, the literary mastermind behind the beloved fantasy world of Middle Earth. The intricacies of managing the Tolkien estate serve as a fascinating case study for both fans of the iconic author and those … [Read more...] about A Glimpse into the Estate Planning of J.R.R. Tolkien
