In a perfect world, people are able to handle their own affairs and stay in control of their own lives. However, no matter how healthy you are, the future is uncertain. There is always a possibility you could fall ill, or be incapacitated for one reason or another....
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Estate Planning For Your Pets As Well As Your Family
Entrusting Your Pet's Care Is your pet a part of your family? Pets are a great source of comfort, stress relief, and joy. Just as you want to provide for your friends and family if you are disabled or after you pass away, it is natural that you wish to do the same for...
Estate Planning Lingo – What Is A Power Of Appointment?
Getting Comfortable With Powers Of Appointment. Does your will contain power of appointment? Does it waive powers of appointment? Do you know? Can you check? A power of appointment can provide flexibility for transferring property to legatees and heirs, usually...
IRS Issues Proposed Regulations Restricting The Use Of Valuation Discounts
For many family owned businesses the creation of a Family Limited Partnership ("FLP") is a great way to achieve succession planning. When it works well, a founding member of the business can enjoy peace of mind knowing that his hard-earned business can stay within the...
Going Through MD Probate Just For A Car? Don’t Let That Happen.
I am often asked: What is the probate process and how can I avoid it? Simply put, probate is the government supervised process of transferring assets titled in an individual's name according to the terms of that individual's last will and testament, or if the...
Providing Access To Your Digital Assets: A Decision Yours To Make
Access To Digital Assets Many of us are using online accounts to some degree: to manage finances, correspondence, or social interactions, all with the storage of their personal information. Sometimes the information is stored on our own personal devices, such as a...
Yours, Mine And Ours: When Is A Prenuptial Agreement Necessary?
The news and media are loaded with stories about messy celebrity divorces involving prenuptial agreements. While it may seem that only extremely wealthy individuals - or superstars - enter into prenuptial agreements before tying the knot, that simply is not true....
Move Estate Planning To The Top Of Your New Year’s Resolutions
For many people, the new year is a time to set goals for the year ahead - a list of to-dos. Consider adding estate planning to your list, as a priority item. When To Update Your Estate Plan A lot can happen in a year. If you have an existing estate plan, now is a...
Maryland’s Estate Tax Laws Are Changing In January; Is Your Estate Plan Still Relevant?
Maryland's New Estate Tax Exemption In 2014, Maryland's estate tax exemption had been $1 million, and increased to $1.5 million in 2015. Over the next four years, this exemption amount will increase as follows: $2 million for individuals who pass away in 2016 $3...
What Gifts Will You Give This Holiday Season?
The holiday season is upon us. For many, that means hitting the mall the day after Thanksgiving in search of the perfect gift. An often overlooked area for gifts? Your own estate. Think of this as "strategic gifting." Not only will you be giving a loved-one a gift,...