As proud supporters of the Alzheimer’s Association Greater Maryland Chapter, Sinclair Prosser Gasior (“Team SPG”) has set an ambitious goal of raising $15,000 for the Walk to End Alzheimer's in Annapolis on October 20, 2024. We are not only committed to safeguarding our clients' futures but we are also dedicated to contributing to the fight against Alzheimer's disease. The Walk to End … [Read more...] about Taking Strides Towards a World Without Alzheimer’s
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What is Simultaneous Death?
The concept of simultaneous death arises in the field of estate planning and administration when two people, typically spouses, die at the same time, or within a short period of each other, and questions arise as to how to address their estates. The reality of a married couple dying simultaneously is extremely unlikely. However, it still occasionally causes legal issues and questions throughout … [Read more...] about What is Simultaneous Death?
Recent Updates to the Maryland ABLE Program
In 2023, there were significant legal changes impacting the Maryland Achieving a Better Life Experience program, also known as the Maryland ABLE program. These updates have resulted in expanded access to the benefits of Maryland ABLE accounts for qualified individuals with disabilities. There is now an expanded list of people who may assist an individual with disabilities to open a Maryland ABLE … [Read more...] about Recent Updates to the Maryland ABLE Program
Rising Scams of Financial Elder Abuse
"The Rising Scams of Financial Elder Abuse" by Attorney Alicia Balanesi (Audio) All across the world, new telemarketing scams are coming to light that target the elderly. Just in the past couple of weeks, I came across someone who had recently been scammed by a new online attraction and lost thousands of dollars which are now unrecoverable. One in five adults over the age of 65 has been a … [Read more...] about Rising Scams of Financial Elder Abuse
Maryland’s Trust Decanting Act
"Maryland’s New Trust Decanting Act" by Attorney Alex Pagnotta (Audio) If you establish a Revocable Living Trust, you are able to make updates as things in your life change. But what happens if you pass away and then things change, or you were not able to make changes prior to passing? In general, your Revocable Trust becomes irrevocable upon your passing, meaning no changes can be made. This … [Read more...] about Maryland’s Trust Decanting Act
Selling Property Titled in a Trust
"Selling Property Titled in a Trust" by Attorney Melanie Marban (Audio) For many, a home is the single largest investment one will make in a lifetime. When the dream of homeownership is finally realized, it is vital to protect this asset. A big part of estate planning is how your assets are titled. At the time you create your Trust, our firm will help you re-title your home. At your final … [Read more...] about Selling Property Titled in a Trust
Maryland’s New Domestic Partnership Laws
"Maryland’s New Domestic Partnership Laws" by Attorney Jon Gasior (Audio) During your initial consultation with an estate planning attorney, the questions usually revolve around your family. Are you married, single, divorced, or widowed? Do you have any children? Are there any other relatives that may be involved in your planning? The reasoning behind these questions is that a person’s … [Read more...] about Maryland’s New Domestic Partnership Laws
5 Reasons Not to Add Child to Your Deed
"5 Reasons Not to Add Child to Your Deed" by Attorney Laura Curry (Audio) For many of us, our home is one of the most significant assets in our estate and we want to make sure it passes to our loved ones with ease and at the least expense. As an estate planning attorney, I am often asked if putting a child’s name on the deed to your home is a good idea. Most people think it’s a simple and … [Read more...] about 5 Reasons Not to Add Child to Your Deed
The Importance of Being Earnest (And Funding Your Trust)
"The Importance of Being Earnest (And Funding Your Trust)" by Attorney Beth Burgee (Audio) In the world of both estate planning and Oscar Wilde’s iconic play “The Importance of Being Earnest,” there’s an undeniable thread of careful planning and the pursuit of a well-orchestrated future. Individuals navigating the realm of trusts must pay close attention to every detail of their estate plan, … [Read more...] about The Importance of Being Earnest (And Funding Your Trust)
The Corporate Transparency Act
Many of our clients have, or put in place, various business entities. Effective, January 1, 2024, the Corporate Transparency Act’s (CTA) mandatory entity information reporting with the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) will impact numerous LLCs, corporations, and any other business entities created in or registered to do business in the United States. … [Read more...] about The Corporate Transparency Act
Medicaid Coverage in the Post-Covid Era
"Medicaid Coverage in the Post-Covid Era" by Attorney Alicia Balanesi (Audio) Between May and August of 2023, over 100,000 vulnerable adults in Maryland lost Medicaid coverage, and that number is still climbing. The loss came with the ending of a COVID-19 federal health policy that prohibited Maryland from kicking anyone off Medicaid during the pandemic. With the termination of the policy as of … [Read more...] about Medicaid Coverage in the Post-Covid Era
Michael Jordan’s Revenge Tax Part 2
Part 1 of this series focused on Michael Jordan’s Revenge Tax. You can read that blog here. Part 2 will focus on how the “jock tax” raises many different multistate and national taxation issues. Let's start by looking at an example. An NFL player is under contract to obtain a bonus of one million dollars if they catch 100 passes throughout the season. The NFL player catches pass number 100 at … [Read more...] about Michael Jordan’s Revenge Tax Part 2
Estate Planning Travel Checklist
"Estate Planning Travel Checklist" by Attorney Melanie Marban (Audio) Everyone loves to plan a getaway. Whether it is a weekend away at the beach or a month-long backpacking trip through Europe, making lists before you leave is essential. You already have your packing list, itinerary, and instructions for the pet sitter. You may have even purchased travelers insurance in case of bad weather, … [Read more...] about Estate Planning Travel Checklist
Dumbledore’s Will in Harry Potter
Recently I wrote about comparing estate planning in Maryland and in the Wizarding World of Harry Potter. Estate planning is a crucial step to preparing for your future and ensuring that your assets are distributed according to your wishes after your passing. In the world of Harry Potter, even the great wizard Dumbledore recognized the importance of estate planning when he left behind a unique and … [Read more...] about Dumbledore’s Will in Harry Potter
How is an Estate Valued in Estate Planning?
"How is an Estate Valued in Estate Planning?" by Attorney Laura Curry What makes up your estate? One of the first steps when I sit down with an estate planning client is to compile a list of all of their assets. Oftentimes, clients are surprised to find out how much is actually included in their estate. Once you have an inventory of your assets, it’s time to start planning what happens to those … [Read more...] about How is an Estate Valued in Estate Planning?
Trustee Commissions Under the Maryland Trust Act
"Trustee Commissions under the Maryland Trust Act" by Attorney Beth Burgee (Audio) Managing a trust involves various responsibilities and efforts to ensure the proper administration of the trust assets and the fulfillment of the grantor’s (creator of the trust) intentions. One aspect of trust management that often comes into play is trustee commissions. In Maryland, trustee commissions are … [Read more...] about Trustee Commissions Under the Maryland Trust Act
IMPORTANT Updates to Maryland’s Power of Attorney Laws
The Maryland General Assembly was busy this past session passing several laws that impact estates and trusts. A major update was done to the Statutory Power of Attorney Act first created in 2010. We encourage all of our clients to schedule a complimentary client review appointment to discuss these changes to your financial Power of Attorney and other important estate planning documents. A … [Read more...] about IMPORTANT Updates to Maryland’s Power of Attorney Laws
