Tag Archives: estate planning attorney
Ancillary Probate: When Is It Used, Where It Occurs, and How to Avoid It
Many people own property in more than one state—perhaps a vacation home in Florida, a rental property in a former home state, or even a car titled in another state. It is important to think about how that property will be handled as you create an estate plan. It may be necessary for there… Read More »
Benefits of a Hybrid Long Term Care Insurance Policy
You have probably heard about the astronomical costs of nursing-home care if you become seriously ill or injured. You might also know that Medicare would cover only a minimal amount of those costs. Private insurance doesn’t seem like a good bet either, if you’ve heard horror stories about skyrocketing premium costs and difficulties in… Read More »
Ways to Hold Title to Property in Maryland and the District of Columbia
For many people, real property, including their home, is a big part of their overall net worth. How the home and other pieces of real property is titled deserves careful consideration. Real estate constitutes the land and any structure, including vegetation, crops, and other natural resources that sit on the land under the state’s… Read More »
What You Need to Know About the SECURE Act of 2020
In 2019, Congress passed a bipartisan appropriations bill. As part of this massive spending bill, there is a piece of legislation known as the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act represent the first significant change in retirement legislation since the Pension Protection Act in 2006. On December… Read More »
Impact of a Non-Citizen Spouse on Estate Planning
According to the Pew Research Center, in 2017, there were 44.4 million foreign-born people living in the United States, 55% of whom were non-citizens. As a result, there are many occasions when a non-citizen may be the beneficiary of the estate of a U.S. citizen, for example, if the non-citizen immigrant married a U.S…. Read More »
Why You Need an Estate Plan
In 2008, Congress recognized the need for the public to understand why you need an estate plan by passing House Resolution 1499, which designated the third week of October as National Estate Planning Awareness Week. Nevertheless, according to a 2019 survey carried out by Caring.com, 57% of adults in the United States have not… Read More »
Do Married Couples Need Separate Estate Plans?
The average American family has changed a great deal over the last few decades. The assumption that a couple will share finances, tax obligations, and a last name is one that does not necessarily apply in the 21st century. There are more options than ever before to keep your finances, identity, and future plans… Read More »
Estate Planning Considerations for Rental Property Owners
In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers alike. If you have a home or other rental property that is generating income, you should understand the following asset protection and estate… Read More »
Estate Tax Repeal: Planning for the Future Without a Crystal Ball
Creating a will, trust, or any type of estate plan has always involved dealing with an uncertain future. Consider that just 20 years ago in 1997, the estate tax had an astonishing 55% rate with only a $600,000 exemption. Back then, tax-driven estate planning was a mathematical necessity for a large segment of the… Read More »
Planning on Leaving Money to Grandchildren in a Will? Don’t Make These Common Mistakes!
As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. However, that bond can actually turn into a weakness if proper precautions aren’t set in place. If you’re planning… Read More »
