Category: Estates and Trusts
When we navigate estate planning documents with our clients, there is a dizzying array of roles and positions within the documents. With the Academy Awards just last weekend and movies on our mind, we present the Estate Planning Cast of Characters, our handy reference guide…
We are taught from an early age to respect our elders. And indeed, we love our aging relatives. We take time away from work and other activities to care for them and assist them. Yet one of the most commonly-challenged probate issues arises from compensation that a family…
Cinema and television love to dramatize death. And what could be more dramatic than feuding family members sitting in suspense around a lawyer’s conference table about to learn the contents of the Will of the dearly departed? The Will is read out loud and all would learn…
With a new year comes updated exemptions for estate tax exclusion and gift tax for 2023. What is the “estate tax exemption” and where is it going in 2023? The estate tax exemption is the amount of non-charitable bequests that can pass tax-free to someone…
Maryland’s “Statute Against Financial Exploitation Act” (SAFE) was enacted in October 2021. In the past year, it has proven to be a valuable additional layer of protection for Maryland seniors. What gave rise to the SAFE Act? Troublingly, in recent years, there have been growing…
In a recent Maryland appellate case, a husband was ordered to make a lump sum payment of $7 Million to his ex-wife for engaging in adultery, which led to the dissolution of the marriage. Here we provide some information about the case, and when couples might consider…
October 1 is the date when the majority of laws enacted by the Maryland legislature during the preceding session take effect. While the 2022 legislative session wasn’t as busy of a legislative session as 2021 as far as the estate and trust world is concerned,…
In the last few weeks, parents across the country have navigated an emotional and logistical whirlwind. Sometimes tear-filled, often stressful, we’re talking about moving your kids into college. Parents almost always remember the dorm essentials – laptop, sheets, mini-fridge, storage cubes, desk lamp, whiteboard, and…
Estate planning clients often engage us along with their spouses. Even though each spouse signs their own will, they often coordinate their documents with one another after a major life event, such as a marriage, birth of a child, or emancipation of grown children. These clients…
As our clients age, they increasingly rely upon the assistance of others for financial matters. Our clients often want to formalize this relationship to ensure that the bank or retirement plan custodian will recognize the authority of a trusted friend or family member to give instructions. When…
