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Annapolis Estate Planning Attorneys

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Do You Need a Revocable Living Trust

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  I often hear the assumption that people do not need a trust unless they have $1,000,000.  This is not true.  A Revocable Living Trust is an estate plan.  The trust is a Will substitute.  Instead of having a Last Will and Testament as your estate plan, you can have a Revocable Living Trust.  The purpose of a Revocable Living Trust is to avoid probate.  Often my clients have more than one … [Read more...] about Do You Need a Revocable Living Trust

Three Important Health Care Directives

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When setting up an estate plan there are three very important health care documents that I recommend to my clients. The first document is a Health Care Power of Attorney.  This document designates the health care agent (the person you choose to act on your behalf) to make health care decisions for you when you are not able to communicate.  These decisions include reviewing medical records, … [Read more...] about Three Important Health Care Directives

Your Estate Matters Audio – “Three Important Health Care Directives” by Attorney Colleen Sinclair Prosser

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   "Three Important Health Care Directives" by Attorney Colleen Sinclair Prosser … [Read more...] about Your Estate Matters Audio – “Three Important Health Care Directives” by Attorney Colleen Sinclair Prosser

Listen to “Your Estate Matters!” tomorrow morning (Tuesday) at 8:50 a.m. on WNAV Radio

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  Make sure to tune in to WNAV Radio on 1430 AM or 99.9 FM on Tuesday mornings at 8:50 a.m.  for YOUR ESTATE MATTERS!  Attorneys Colleen Sinclair Prosser, Nicole Livingston and Paula M. Mattson-Sarli relate cutting edge estate planning information.  The topic tomorrow is "Three Important Healthcare Directives" by Attorney Colleen Sinclair Prosser. … [Read more...] about Listen to “Your Estate Matters!” tomorrow morning (Tuesday) at 8:50 a.m. on WNAV Radio

Estate Planning in the Digital Age

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  Our assets are not limited to our house, stocks, cash and personal property any longer.  The average person also has life insurance, retirement accounts, businesses and maybe even intellectual property; such as copyrights.  But, what about digital assets?  What happens to them after we die? Estate planning is a practice area that is constantly evolving.  Attorneys need to be well-versed in trust … [Read more...] about Estate Planning in the Digital Age

“Gifting and Medicaid” by Attorney Nicole LivingstonWhat is a look-back period?

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  What is a look-back period?   When you file an application for Long Term Care Medical Assistance, you are required to provide five years of financial statements documenting transactions in your accounts.  You may also provide five years of tax forms.  The purpose is to determine whether or not you gave away assets during this time frame in contemplation of filing an application for Medical … [Read more...] about “Gifting and Medicaid” by Attorney Nicole LivingstonWhat is a look-back period?

Continuing Education Seminar for Financial Professionals! Register today!!!!!!

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Invitation and Outline for "Administering Special Needs Trusts"   Sinclair Prosser Gasior is pleased to present A Free Continuing Education event  Sponsored by the American Academy of Estate Planning Attorneys “Administering Special Needs Trusts” The number of subjects encompassed under the topic of estate planning is enormous. Estate Planning Attorney Nicole Livingston will enlighten you … [Read more...] about Continuing Education Seminar for Financial Professionals! Register today!!!!!!

Medicaid Class-Action Lawsuit

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There is a significant difference in the time required by law to process a Medicaid application and the actual time it takes to do so.  The Medicaid program is not just for the elderly, but also for low-income and disabled individuals. A recent class-action lawsuit accuses the Maryland Department of Human Resources of breaking state law by taking up to a year to process Medicaid applications. … [Read more...] about Medicaid Class-Action Lawsuit

Generation Skipping Trusts: You Are Not Skipping a Generation, You are Skipping a Generation of Tax

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Should an inheritance be passed along to future generations with or without a trust?  This is a question I often consider when advising clients on their estate plans. There are several choices families have to make when setting up an estate plan.  One is, do I leave a lump sum of money outright to the beneficiaries, or put the funds in trust with instructions for distributions to be made from the … [Read more...] about Generation Skipping Trusts: You Are Not Skipping a Generation, You are Skipping a Generation of Tax

Register today for our FREE Estate Planning Seminars scheduled for next week!

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  The presentation establishes the necessary components of an effective estate plan. The seminar is presented in a case study format profiling the life of Bill and Mary Jones. Several scenarios are used to relay the impact of estate planning issues relating to probate, disability due to incompetence, protection of government benefits for special needs loved ones, second marriages, unmarried … [Read more...] about Register today for our FREE Estate Planning Seminars scheduled for next week!

Joint Accounts and Taxes

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Recently, AARP wrote an article about titling assets jointly with another person.  The article has generated well needed dialogue about the pros and cons of joint ownership.  The reason that I hear clients telling me they want to name their child as a joint owner on the accounts is to enable access to the money when they cannot.  In other words they are doing so for convenience.  Many legal issues … [Read more...] about Joint Accounts and Taxes