Sinclair Prosser Gasior

Annapolis Estate Planning Attorneys

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Three Taxes at Death

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There are three taxes your family may have to face in the State of Maryland.  There is a federal estate tax, a Maryland estate tax, and a state inheritance tax.  Maryland does have a state inheritance tax, but it does not apply to everyone.  It does not apply if you leave your assets to your spouse, your children, your grand-children, parents or grandparents, or your brothers or sisters.  Anyone … [Read more...] about Three Taxes at Death

How do you know if you are working with qualified professionals?

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As a member of the American Academy of Estate Planning Attorneys, I must complete 36 hours of continuing legal education per year.  This is important because in Maryland there is no requirement that attorneys obtain continuing education credits.  Once an attorney passes the Bar, they never have to open a book again. With the changes in the laws that affect so many facets of our estate planning … [Read more...] about How do you know if you are working with qualified professionals?

The Patient Protection and Affordable Care Act

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May is National Elder Law Month!  The Patient Protection and Affordable Care Act, the health care reform law, includes provisions to protect some of the most vulnerable older adults — those who live in nursing homes and those who are victims of elder abuse. Nursing Home Transparency and Improvement The health care reform law: • Requires nursing homes to disclose the identity of their owners, … [Read more...] about The Patient Protection and Affordable Care Act

The Importance of Knowing the Basis of an Asset

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A question that comes up frequently with my clients is: “Why did my attorney tell me to get my real estate appraised when my spouse passed away?”  Let me explain why I regularly make this recommendation: You and your spouse own your assets together.  When one of you dies all the assets pass to the surviving spouse either by right of survivorship or a living trust.  If your estate is under … [Read more...] about The Importance of Knowing the Basis of an Asset

What is Living Probate?

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Living probate is the guardianship process that will take place if you become incapacitated and you do not have a legal document called a power of attorney.  Your loved ones will have to go to court in order to manage your healthcare and to gain access to your money.  Living probate is the court proceeding designed to protect the mentally disabled.  What happens during the guardianship … [Read more...] about What is Living Probate?

Options for Paying for Long Term Care

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How to pay for long-term care is a question that keeps individuals up at night.  For certain families, there may be several options, for others, only one. Long-term care involves medical and non-medical care to people who have a chronic illness or disability. Most long-term care is to assist people with activities of daily living, such as dressing, bathing, and using the bathroom. Long-term care … [Read more...] about Options for Paying for Long Term Care

Make Sure YOUR Estate Goes to the People You Love!

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Instead of the IRS, Probate Court or a Nursing Home. Attend a FREE SEMINAR to Find Out How a Proper Estate Plan Can Benefit Your Family... ...Seating is limited so follow the link to reserve yours today! Seminars … [Read more...] about Make Sure YOUR Estate Goes to the People You Love!