Sinclair Prosser Gasior

Annapolis Estate Planning Attorneys

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Insurance Can Play an Important Role in Estate Planning

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Over the 22 years of practicing law I have met with many people and have reviewed their financial affairs. Although I am not a financial advisor and I do not sell insurance, I believe insurance and financial planning play an important role in protecting you and your family. There are many types of insurance and I do not have enough time to provide a comprehensive overview of the ins and outs of … [Read more...] about Insurance Can Play an Important Role in Estate Planning

Sinclair Prosser Gasior provides valuable continuing education class for financial professionals

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Our own estate planning attorney, Nicole T. Livingston, presented a 2 credit Continuing Education Seminar for Maryland Life/Health Insurance agents, CFPs and CPAs.  The course addressed Medicaid and Veterans Planning for Long Term Care While Protecting Assets.  The book 47 Secret Veterans’ Benefits for Seniors by Victoria L. Collier, JD was provided to each participant as a valuable resource. … [Read more...] about Sinclair Prosser Gasior provides valuable continuing education class for financial professionals

Life Estate Deeds

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A life estate deed is a type of deed.  You give yourself a life estate interest in your home [1] and retain the right to live in, use, and enjoy the property during your lifetime.  Then, you name a beneficiary who will receive the property upon your death without having to go through the probate process.  The person who retains the life estate is called the life tenant, and the person who receives … [Read more...] about Life Estate Deeds

What’s so bad about Probate?

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Probate is a legal process in Maryland by which property in your individual name gets to your beneficiaries.  You often hear that Probate is something to be avoided, but why?  What’s so bad about Probate?  In order to understand why you should avoid Probate, let me give you a brief summary of the requirements of opening an estate in Maryland. When a person dies in Maryland and he or she leaves … [Read more...] about What’s so bad about Probate?

Spendthrift Trust or Outright Distribution

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This article is written with regard to an aspect of estate planning that weighs on many peoples minds.  Should you distribute the assets of your trust to your loved ones outright and free of any controls, or is there a reason you will want to distribute assets to your estate beneficiaries over time?  Are the beneficiaries of your estate responsible to hand their inheritance?  Or are you concerned … [Read more...] about Spendthrift Trust or Outright Distribution

Division of Assets: Medicaid Planning for Married Couples

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Division of Assets is the name commonly used for the Spousal Impoverishment provisions of the Medicare Catastrophic Act of 1988. It applies only to couples. The intent of the law was to change the eligibility requirements for Medicaid where one spouse needs nursing home care while the other spouse remains in the community. The law, in effect, recognizes that it makes little sense to impoverish … [Read more...] about Division of Assets: Medicaid Planning for Married Couples

I have a Living Will, why do I need a Healthcare Power of Attorney?

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Knowing what your Healthcare Estate Planning Documents are and how they each play a vital role in the success of your plan is important.  In our firm we have a number of documents that we include in every estate planning package and there’s a very good reason for it.  You need each one. I have heard before, “I have a Living Will, why do I need a Healthcare Power of Attorney?”  A Living Will or … [Read more...] about I have a Living Will, why do I need a Healthcare Power of Attorney?