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Tag Archives: estate planning attorney

Strategies for coping with pandemic uncertainty

Coping With More Days of Pandemic Uncertainty

By Andre O. McDonald |

We have vaccines, however the rollout has been slower than expected. COVID-19 is raging throughout many states. So how do we continue to maintain strong mental health during the next several months after enduring so much already? The human being is hardwired to evaluate risks that can interfere with our wellbeing. However, these evolved… Read More »

risks of DIY estate planning

Caution: Beware of DIY Estate Planning

By Andre O. McDonald |

We hear this question about DIY estate planning all the time: “Can’t I just grab a will off the internet, do a transfer-on-death deed for my land, put my kids on my bank account, and be done with my estate plan?” DIY estate planning is just not a good idea. For the plan to… Read More »

Should you own your timeshare in trust? Click to find out.

Should You Own Your Timeshare in Your Trust?

By Andre O. McDonald |

Timeshares have come a long way since they first arrived in the real estate market back in the ’70s. In the early days of timeshare ownership, high-pressure sales tactics, exceedingly vague contracts, and inflexible scheduling policies caused many people to quickly regret such purchases. Over time, however, timeshares have become more consumer-friendly with greater… Read More »

What you need to know about your inherited retirement account

What to do with your inherited retirement account

By Andre O. McDonald |

For decades, common financial planning wisdom has encouraged almost all-American workers to maximize their contributions to qualified retirement accounts. Indeed, doing so can be a powerful way to reduce your current income tax liability, grow your savings exponentially tax-free, and, in most states, protect your savings from claims of creditors. And by and large,… Read More »

13 things your letter of instruction in your estate plan should have

Letter of Instruction for Your Estate Plan

By Andre O. McDonald |

Whether you are starting from scratch or have an estate plan in place, a letter of instruction (LOI) is an important part of any comprehensive plan. A letter of instruction can help your loved ones manage important information about you. A letter of instruction conveys your desires, includes practical information about where to find… Read More »

Understanding the responsibilities of the fiduciary role

Serving as a Fiduciary: What You Need to Know

By Andre O. McDonald |

You may be asked to be power of attorney for a family member or friend. Your family member or friend may be planning for when they might become unable to take care of their affairs. For example, they might become disabled or incapacitated, and they would need a trusted person to step in and… Read More »

7 pitfalls to watch out for when choosing beneficiaries in your estate plan

Designating Beneficiaries: 8 Pitfalls You May Not Know About

By Andre O. McDonald |

You might think that leaving your property to your heirs would be simple enough. You make a will or a trust, you do a transfer-on-death deed for your real estate, you put your kids on your bank account, you designate beneficiaries for your life insurance and retirement accounts, and you’re done. If only things… Read More »

A Last Will and Testament Does Much More Than Just Helping Transfer Assets

A Will Does Much More Than Transfer Your Assets

By Andre O. McDonald |

Caring.com annual estate planning survey for 2019 found that 57% of U.S. adults do not have a Last Will & Testament (a “Will”). The survey found that participants were more likely or less likely to have a Will depending on issues such as age, race, and education. For example, when broken down generationally, 66% of people… Read More »

Responsbilities of being named as a guardian

Help! I’ve Been Named as a Guardian. What Do I Do?

By Andre O. McDonald |

A guardian is an individual who cares for someone who needs special protection. Adults can nominate a guardian in his or her Will. Likewise, parents can also nominate a guardian in their Will, but a court must confirm and officially appoint the guardian. Sometimes the need for guardianship arises when the parents are still… Read More »

Beware! Adding your kids to your bank accounts can be dangerous...

The Danger of Adding Your Kids to Your Bank Accounts

By Andre O. McDonald |

I want to leave my bank accounts to my children when I’m gone. Can’t I just make the children joint owners? That idea sounds better than it actually is. Yes, the bank accounts would avoid probate proceedings when you pass. But by adding kids to your bank accounts, you’d put yourself at risk at… Read More »

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For help with estate planning, special needs planning or elder law throughout Howard, Montgomery, Prince George’s, Anne Arundel, and Baltimore County; and Baltimore City, contact McDonald Law Firm, LLC.

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McDonald Law Firm, LLC

Columbia Office

10500 Little Patuxent Pkwy, #420
Columbia, MD 21044-3563

Bethesda Office:

(By Appointment Only)

7315 Wisconsin Avenue, Suite 800 West
Bethesda, MD 20814

Washington, DC Office:

2101 L Street, N.W., Suite 300
Washington, DC 20037

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