Nothing is Certain but Death and Taxes – Annapolis and Towson Estate Planning

No one actually enjoys paying taxes, and few of us really want to think about our own death, but both require advance planning and careful consideration, advises Ohio’s Country Journal in the article “Death and Taxes.”

Think about how quickly the year has gone. Doesn’t it feel like only yesterday you were making New Year’s resolutions? Then it was tax season, which for more people is worse than going to the dentist. While we all know we should see our dentist on a regular basis, we also like to forget that we need to tackle our estate plan.

Preparing for taxes and death: neither one is associated with warm, fuzzy feelings, but we still need to plan for it. This is to avoid burdening our families and loved ones. It’s hard enough to grapple with loss and grieving, but to be completely unprepared, makes matters worse for those who are left behind. Here are some suggestions to prepare for these certainties of life.

Have a last will and testament prepared. Work with an estate attorney who is licensed to practice in your state. It doesn’t matter if you have a simple life or a complicated one. You need a will.

Designate a power of attorney. Choose someone you trust to be able to sign important documents and take care of business if you are unable. It does not have to be a family member. Sometimes a trusted advisor is the best candidate for a POA.

Have a living will prepared and designate a medical power of attorney. Again, choose someone you trust who will make the decisions you want. Talk with them about what you want and put your wishes in the document.

Create a master file and tell someone where important papers can be found. The documents include insurance policies, mortgages, wills, trusts, POA, healthcare POA, information about bank accounts, investment accounts, retirement plans. Don’t leave out contact information for your estate planning attorney, CPA, financial advisor or healthcare providers.

Plan your funeral service. Describe what you would like to happen in as much detail as you can manage. This will help your family immeasurably so they won’t be left wondering what you’d want or wouldn’t want. If you plan on being buried, purchase a plot. If you want to be buried with your spouse, purchase two adjoining plots.

Don’t forget digital assets. Make a list of all your digital accounts, usernames and passwords. If possible, name a person to handle your online accounts. Some digital platforms allow you to designate a person to manage your accounts, access your data and close your accounts. Others do not. If you have valuable data online, from business records to family photos, make sure you’ve planned for these assets.

All these items can be updated as needed. In fact, every three or four years, you should update your estate plan so that it is current with changing laws and doesn’t miss any opportunities. The same goes for large events in life, including births, deaths, marriage and divorce. Speak with an experienced estate planning attorney to make sure you are ready for the sure thing.

Reference: Ohio’s Country Journal (August 26, 2019) “Death and Taxes”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

What Should I Know About a Special Needs Trust? – Annapolis and Towson Estate Planning

Your disabled family member may be eligible for a number of government programs. However, Pauls Valley (OK) Democrat’s recent article asks “Can your family benefit from a special needs trust?” The article reminds us that these programs don’t cover everything. You may need to close the gaps.

A few government programs have eligibility restrictions based on the level of financial assets that are available to the recipient. This means the financial help you’re wanting to provide may do more harm than good unless you establish a special needs trust.

As the donor, you supply the funds. A trustee holds and administers them according to your instructions. The beneficiary typically can’t use the trust for basic support or to receive benefits that can be provided by the government. The special needs trust can be used to provide specialized therapy, special equipment, recreational outings and other expenses.

When considering a special needs trust, you’ll need to look at several issues with your attorney.  However, there are two that are critical. The first is designating a trustee. You could name a family member or close friend as a trustee. While this works well for many, it has the potential to cause family conflicts. You could also name a trust company. This company can provide professional management, expertise and continuity of administration. A third option is to name an individual and a trust company as co-trustees.

The second critical issue with a special needs trust is funding the trust. You can fund the trust during your lifetime or have it activated when you die.

Note that you don’t have to be the sole donor. A special needs trust can be created so other family members can also contribute to it. The trust can be funded with securities (stocks and bonds), IRA proceeds, insurance death benefits and other assets.

You’ll need to understand the requirements of various federal, state and local benefit programs for people with disabilities, so that your loved one’s benefits are not at risk.

Speak with an experienced elder law or estate planning attorney about how you can to make life better for a disabled child or family member with a special needs trust.

Reference: Pauls Valley (OK) Democrat (August 1, 2019) “Can your family benefit from a special needs trust?”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

What are Some Lifetime Gift Strategies that I Can Consider? – Annapolis and Towson Estate Planning

There are a number of strategies that can help preserve your assets, promote the transfer of wealth, and lessen the tax burden on you and your estate. Forbes’s published an article “5 Lifetime Gift Strategies For You And Your Family To Consider” that discusses five frequently-used lifetime gifting strategies to consider, if you have significant wealth to transfer to future generations.

A grantor retained annuity trust (GRAT) is an irrevocable trust that can be a good choice if you want to transfer hard-to-value assets. A GRAT also lets you keep your income stream, divide property interests and make discounted gifts to future generations. With a GRAT, the grantor transfers assets to a trust but maintains a right to an annual income stream, or annuity payment, for a specific period of time. The income stream’s value is deducted from the value of the transferred assets when determining the gift’s full taxable value. Anything left in the GRAT after the annuity period expires, is given to the trust’s beneficiaries without any more gift or estate taxes. However, if the grantor dies before the end of the trust term, the whole value of the trust will be included in the taxable estate (like the trust had never been created). Therefore, you can see how important it can be to carefully choose the term of the trust, so the grantor is likely to live beyond its termination.

A defective grantor trust strategy is one way to benefit from the differences in income and transfer-tax treatments of irrevocable trusts. This can let you transfer the anticipated appreciation of your assets at a reduced gift-tax cost. Here, the grantor transfers property to a trust in exchange for a note that carries a market rate of interest and a balloon payment at the end of the note’s term. In most cases, the grantor and trust are treated as the same entity for income tax purposes, but they are considered separate for transfer tax purposes. This discrepancy allows the grantor to affect a sale to the trust without any capital gain.

Family limited liability entities are complex strategies that can provide many benefits to high net worth families with personal, business and investment assets. They’re flexible, so it makes them particularly attractive, because their governing documents can be changed as family dynamics and family business structures evolve. These entities are frequently used to help families consolidate investments, share income with family members in lower tax brackets, shield assets from lawsuits and create a long-term estate plan. Speak with an estate planning attorney to see if this strategy makes sense for your situation.

A lifetime credit shelter trust can be a wise vehicle if you want to leverage the increased lifetime gift-tax exemption amount but aren’t yet ready to transfer significant assets. With this trust, the grantor makes a gift to the trust for the benefit of his or her spouse and other family members. Because of the spouse’s rights to the assets in the trust as a beneficiary, the grantor also maintains his or her access indirectly. You can allocate your lifetime exemption while the gifted assets, including any appreciation, stay outside your estate for estate tax purposes. You and your spouse can create lifetime credit shelter trusts, but they can’t be identical.

Another strategy is making an intra-family loan. The tax code lets you make loans to family members at lower rates than commercial lenders, without the loan being considered a gift. You can help your family members financially without incurring more gift tax. The IRS requires that a bona fide creditor relationship with a minimum interest rate be created. This can be a good way to transfer wealth, if the borrowed assets are invested and earn a stronger rate of return than the interest rate on the loan.  The interest must also be paid within the family.

Reference: Forbes (August 5, 2019) “5 Lifetime Gift Strategies For You And Your Family To Consider”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

Why Should I Think About a Dynasty Trust? – Annapolis and Towson Estate Planning

A dynasty trust is a trust that lasts longer than one generation below that of the grantor. This trust can be a worthwhile estate planning tool for multi-generational families. Forbes’ recent article, “2 Reasons To Consider A Dynasty Trust” explains that dynasty trusts have two unique benefits that make them attractive.

Generation-Skipping Transfer Tax (GST) Exemption. According to the American Bar Association, the GST tax is imposed on asset transfers to grandchildren and more remote descendants that exceed the exemption limits. As a result, the transferor can’t avoid transfer taxes by “skipping” a generation. The GST is imposed, in addition to gift and estate taxes.

A person can give up to $11.4 million in assets (the GST tax-exempt amount) to a trust in 2019. Trust assets are protected from transfer taxation for as long as the trust document and state law permit it. A dynasty trust uses the federal GST tax exemption by taking family wealth out of the transfer tax system for as long as the trust is in existence; income and principal is used to benefit each succeeding generation.

An additional benefit is that the GST tax exemption can often be extended, by transferring assets subject to valuation discounts.

Grantor Trusts Provide More Tax Benefits. In most cases, grantor trusts treat the trust creator as the owner of the trust assets for income tax purposes. This allows the trust principal to grow free of income tax. Creating the trust as a grantor trust adds another level of tax benefit to a dynasty trust.

The estate planning benefits of the asset transfer are increased by the grantor making the income tax payments instead of the trust. In other words, the assets in the trust aren’t reduced by income taxes. Any income taxes paid by the grantor reduce the size of the grantor’s overall taxable estate when calculating estate taxes.

There are a number of strategies a person can implement using dynasty trusts. You can discuss all your choices with an experienced estate planning attorney.

Reference: Forbes (July 23, 2019) “2 Reasons To Consider A Dynasty Trust”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

Planning for the Unexpected – Annapolis and Towson Estate Planning

A woman was not notified when her elderly mother had fallen and hurt herself.  Sadly, this is not an unusual situation.

The daughter spoke with her mother once or twice a week, and the fall happened just after their last conversation. She dropped what she was doing and drove to the hospital, according to the article “Parents” in BusinessWest.com. At the hospital, she was worried that her mother was suffering from more than fractures, as her mother was disoriented because of the pain medications.

The conversation with her brother and mother about why she wasn’t notified immediately was frustrating. They “didn’t want to worry her.” She was worried, and not just about her mother’s well-being, but about her finances, and whether any plans were in place for this situation.

Her brother was a retired comptroller, and she thought that as a former financial professional, he would have taken care of everything. That was not the case.

Despite his professional career, the brother had never had “the talk” with his mother about money. No one knew if she had an estate plan, and if she did, where the documents were located.

All too often, families discover that no planning has taken place during an emergency.

The conversation took place in the hospital, when the siblings learned that documents had never been updated after their father had passed—more than 20 years earlier! The attorney who prepared the documents had retired long ago. The originals? Mom had no idea. The names of her banks and financial institutions had changed so many times over the years, that she wasn’t even sure where her money was.

For this family, the story had a happy ending. Once the mother got out of the hospital, the family made an appointment to meet with an estate planning attorney to get all of her estate planning and elder law planning completed. In addition, the family updated beneficiaries on life insurance and retirement accounts, which are now set to avoid probate.

Both siblings have a list of their mother’s assets, account numbers, credit card information and what’s more, they are tracking the accounts to ensure that any sort of questionable transactions are reviewed quickly. They finally have a clear picture of their mother’s expenses, assets and income.

If your family’s situation is closer to the start of the story than the end, it’s time to contact a qualified estate planning attorney who is licensed to practice in your state and have all the necessary preparation done. Don’t wait until you’re uncovering family mysteries in the hospital.

Reference: BusinessWest.com (Aug. 1, 2019) “Parents”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

Why Estate Planning is Essential for Small Business Owners – Annapolis and Towson Estate Planning

For the entrepreneurial-minded person, nothing beats the excitement of having a vision for a business, and then making that dream come true. However, have you ever wondered what will happen to that business after you are gone?

A comprehensive estate plan, says Bakersfield.com, in the recent article “Estate planning tips for small business owners,” provides a plan that can protect your life’s work.

It makes sense. You’ve likely spent decades building your business throughout your working life. You’re proud of what you have accomplished, and you should be. You should then protect it with a well-thought-out plan. Your estate planning attorney will be able to help you design a two-pronged plan for your business and your personal life. For business owners, these two are intertwined.

Can you avoid taxes? Reviewing your personal and business assets, as part of an estate plan, is the best way to minimize the tax exposure of your estate and facilitate an organized sale or succession plan for your business. You can’t completely avoid taxes, but good planning will help them from being excessive.

There are a number of IRS sections that can help, and your estate planning attorney will know them. For example, Section 6166 gives your loved ones more time to pay the tax, by paying in ten annual installments. Another Section, 303, lets your family redeem stock with few tax penalties. Talk with your attorney and CPA to find out if your business is eligible for either of these strategies. Create a plan and talk about it in detail with survivors to help them navigate the transition.

Do you have a buy-sell agreement in place? This is critical if more than one person owns the business. The buy-sell agreement dictates how the partnership or LLC is distributed upon the death or incapacity of one of the owners. Without one, family members may be stuck owning a company they don’t want or don’t know anything about. Alternatively, your former partners may find themselves partnered with people with whom they never intended to go into business.

The buy-sell agreement creates a plan so, when an owner passes, the shares of the company must be bought out by the other owners at a fair market price. The agreement can even establish a sale price, so family members will know exactly what they can expect to receive from the sale. In addition, a buy-sell agreement can be used to block certain individuals from taking a role in the business. For many family businesses, that’s enough of a reason to make sure to have a buy-sell agreement.

How are life insurance policies used by small business owners? Maybe you want the business to die with you. Some small businesses provide a stable income for the owner, but there’s no plan for the business to be passed to another family member or to survive the passing of the owner. If that is your situation, and you want your family to have income, you’ll need a life insurance policy.

A life insurance policy can also be used to help partners with the capital they’ll need to purchase your shares if that is how your buy-sell agreement has been set up.

As a small business owner and a family breadwinner, you want to be sure your family and your business are prepared for your passing. Talk with your estate planning attorney to make sure both are protected, in the event of your passing.

Reference: Bakersfield.com (July 15, 2019) “Estate planning tips for small business owners”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

What are the Details of the New SECURE Act? – Annapolis and Towson Estate Planning

The SECURE Act proposes a number of changes to retirement savings. These include changes to parts of IRAs and 401(k)s. The Act is expected to be passed in some form. Some of the changes look to be common sense, like broadening access to IRAs and 401(k)s, as well as including updating the rules to reflect that retirement is now a longer period of life. However, with these changes come potential limitations with stretch IRAs.

Forbes asks in its recent article “Are Concerns Over Stretch IRAs And The SECURE Act Justified?” You should know that an IRA is a tax-wrapper for your investment that is sheltered from tax. Your distributions can also be tax-free, if you use a Roth IRA. That’s a good thing if you have an option between paying taxes on your investment income and not paying taxes on it. The IRA, which is essentially a tax-shield, then leaves with more money for the same investment performance, because no tax is usually paid. The SECURE act isn’t changing this fundamental process, but the issue is when you still have an IRA balance at death.

A Stretch IRA can be a great estate planning tool. Here’s how it works: you give the IRA to a young beneficiary in your family. The tax shield of the IRA is then “stretched,” for what can be decades, based on the principle that an IRA is used over your life expectancy. This is important because the longer the IRA lasts, the more investment gains and income can be protected from taxes.

Today, the longer the lifetime of the beneficiary, the bigger the stretch and the bigger the tax shelter. However, the SECURE Act could change that: instead of IRA funds being spread over the lifetime of the beneficiary, they’d be spread over a much shorter period, maybe 10 years. That’s a big change for estate planning.

For a person who uses their own IRA in retirement and uses it up or passes it to their spouse as an inheritance—the SECURE Act changes almost nothing. For those looking to use their own IRA in retirement, IRAs are slightly improved due to the new ability to continue to contribute after age 70½ and other small improvements. Therefore, most typical IRA holders will be unaffected or benefit to some degree.

For many people, the bulk of IRA funds will be used in retirement and the Stretch IRA is less relevant.

Reference: Forbes (July 16, 2019) “Are Concerns Over Stretch IRAs And The SECURE Act Justified?”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

Why Don’t Millennials Like the Stock Market? – Annapolis and Towson Estate Planning

A new Bankrate article asked more than 1,000 Americans what they consider the best way to invest money they won’t need for 10 or more years. Real estate was the most popular response. This answer was given by 31% of respondents.

For young people, this preference is especially true. Among millennials (those ages 23 to 38), 36% responded that real estate is the best long-term investment option. Zero-risk cash investments, such as high-yield savings accounts or CDs, was second with 18% of respondents, and the stock market was third, with 16% of respondents.

CNBC reports in its recent article “Millennials agree on the best way to invest—but they’re wrong” that not only do millennials have the biggest preference for real estate of any generation, they’re also the least likely to invest money into stocks. This group has never been attracted to the stock market despite the 10-year long bull market. One reason may be because they favor more concrete investments, and their preference for real estate shows the desire many ultimately have for homeownership. The tangible nature of real estate gives them more comfort than what may seem more abstract, such as stock ownership via mutual funds and ETFs.

However, real estate isn’t always the best or simplest way to build wealth, especially for those who just own single-family homes.

While there are lots of reasons to buy a home, it’s no replacement for a retirement fund.  It is usually a terrible investment.

Home ownership has many expenses, such as property taxes, maintenance and homeowner’s insurance. Although a home may increase in value over time, it probably won’t appreciate enough to offset all the money spent on expenses over the years.

An investor can generally assume that, over the long term, funds invested in a low-cost diversified index fund will realize a roughly 7% annualized return.

Even with the ups and downs in the market, stocks are typically a reliable long-term investment. The S&P 500 earns an average annual return of about 10%. Adjusted for inflation, this is still an annual return of 7% to 8%. In addition, investing in the market doesn’t have to be complicated. A simple way to get going, is by contributing to a tax-advantaged retirement account, like an employer-sponsored 401(k) plan, Roth IRA or traditional IRA.

Whatever path you choose, it’s critical to begin saving and investing as much as you can, as early as you can. The more time your money has to grow, the better the result.

Reference: CNBC (July 18, 21019) “Millennials agree on the best way to invest—but they’re wrong”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

Should You Contest a Will? – Annapolis and Towson Estate Planning

The cases that generate headlines are just the high-profile ones, and they don’t include the hundreds, if not thousands, of inheritance claims being brought every year that never make it to the courtroom, says FT Advisor in the article “When and how clients can contest a will?” What we don’t read about are the family fights, the settlements and the eventual distribution of a loved one’s estate.

What’s behind this uptick in inheritance disputes?

One answer has to do with the increased complexity of families. Having a second, or even a third, family is no longer as unusual as it once was. The division of assets when there are children and stepchildren create more chances for someone to feel wronged. A second reason is that the value of individual property overall has increased. Relatively modest estates with a home that’s now worth half a million dollars, means there’s more to fight over.

Add to that a generally more litigious society, and you have an increase in estate battles.

There are two general areas of estate battles: one concerns wanting a greater portion of an estate, and the second centers on whether the will is valid. The second can bring allegations of undue influence, lack of capacity to create a will and even forgery.

Challenging the validity of a will is difficult, since the person who made the will has passed and they can’t speak for themselves. However, there are certain presumptions in favor of upholding a will that helps the courts. For one thing, the will must be in writing and there must be two people witnessing the signing.

Taking the position that the person was incapacitated and not legally able to create a will is another way that wills are challenged. The older the person is when the will was created, the more likely this is. One way to address this in advance, is to have a medical opinion documenting the person’s mental capacity.

While it is impossible to make any will completely immune to any challenges, there are a few things that can be done to make it less likely that the will is contested.

Write a letter or have a video made that speaks to the family, explaining what your wishes are for your property and for the family. This is not legally binding but could be used to show that you were thinking clearly when you had your estate plan done.

Communicate openly and with great transparency to all members of the family, so there are no surprises. If everyone knows what you have in mind and an opportunity to voice their opinions, there may be less potential for fighting.

Finally, be sure to work with an estate planning attorney who will know the laws of your state, so there are no legal errors that would lead to the will being deemed invalid by the courts.

Reference: FT Adviser (July 3, 2019) “When and how clients can contest a will?”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

Estate Planning a Necessity for Small Business Owners – Annapolis and Towson Estate Planning

Just as the small business owner must plan for their own personal estate to be passed onto the next generation, they must also plan for the future of their business. This is why you need a comprehensive estate plan that addresses both you personal life and the business, says grbj.com’s recent article “Estate planning for small businesses.” Here are the basic strategies you’ll need as a small business owner:

A will. A last will and testament allows you to name someone who will receive your assets, including your business, when you die. If you don’t have a will, you leave your heirs a series of problems, expenses and stress. In the absence of a will, everything you’ve worked to attain will be distributed depending on the laws of the state. That includes your assets and your business. It’s far better to have a will, so you make these decisions.

A Living Trust. A living trust is similar to a will, in that it allows you to name who will receive your assets when you die. However, there are certain advantages to having a trust. For one thing, a trust is a private document, and assets controlled by the trust can bypass probate. Assets controlled by a will must first go through probate, which is a public proceeding. If you’ve ever had a family member die and wonder why all those companies seemed to know that your loved one had passed, it’s because they get the information that is available to the public.

If your business is owned by a trust, the transition of ownership to your intended beneficiaries can be a much smoother process.

A financial durable power of attorney. This document lets you appoint an agent to act on your behalf, if you are incapacitated by illness or injury. This is a powerful legal document, so take the time to consider who you want to give this power to. Your agent can manage your finances, pay your bills and manage the day-to-day operations of your business.

A succession plan. Here is where many small business owners fall short in their planning. It takes a long time to create a succession plan for a business. Sometimes a buy-out agreement is part of a succession plan, or a partner in the business or key employee wishes to become the new owner. If a family member wishes to take over the business, will they inherit your entire ownership interest, or will there be a payment required? Will more than one family member take over the business? If a non-family member is going to take over the business, you’ll need an agreement documenting the obligation to purchase the business and the terms of the purchase.

If you would prefer to have the business sold upon your death, you’ll need to plan for that in advance so that family members will be able to receive the best possible price.

A buy-sell agreement. If you are not the sole owner, it’s important that you have a buy-sell agreement with your partners. This agreement requires your ownership interest to be purchased by the business or other owners, if and when a triggering event occurs, like death or disability. This document must set forth how the value of ownership interest is to be determined and how it is to be paid to your family. Without this kind of document, your ownership interest in the business will pass to your spouse or other family members. If that is not your intention, you’ll need to do prior planning.

The right type of life insurance. This is an important part of planning for the future for the small business owner. The death benefit may be needed to provide income to the family, until a business is sold, if that is the ultimate goal. If a family member takes over the business, proceeds from the life insurance policy may be needed to cover payroll or other expenses, until the business gets going under new leadership. Life insurance proceeds may also be used to buy out the other partners in the business.

Failing to plan through the use of basic estate planning and succession planning can create significant costs and stress. An experienced estate planning attorney can review the strategies and documents that are appropriate for your situation. You’ll want to ensure a smooth transition for your business and your family, as that too will be part of your legacy.

Reference: grbj.com (Grand Rapids Business Journal) (July 19, 2019) “Estate planning for small businesses”

Sims & Campbell, LLC – Annapolis and Towson Estate Planning Attorneys

For Immediate Release

Contact: Jane Frankel Sims

410-828-7775

Contact: Frank Campbell

410-263-1667

Sims & Campbell Estates and Trusts

Frankel Sims Law and Holden & Campbell
Merge to Form Sims & Campbell

Firm will offer comprehensive Trusts & Estates services through offices in Towson and Annapolis

TOWSON, Md. (April 26,2019)  Frankel Sims Law and Holden & Campbell have jointly announced the merger of their firms to create a boutique Trusts & Estates law firm providing comprehensive services in the fields of Estate Planning, Estate Administration, Trust Administration and Charitable Giving. The combined firm will be named Sims & Campbell and have offices in Towson, Md. and Annapolis, Md.  Jane Frankel Sims and Frank Campbell will lead and hold equal ownership stakes in the firm.

Sims & Campbell will have 9 attorneys and 15 legal professionals that handle every facet of estate and wealth transfer planning, including wills, revocable living trusts, irrevocable trusts, estate and gift tax advice, and charitable giving strategies.  The firm will focus solely on Trusts & Estates but will serve a wide range of clients, from young families with modest resources to ultra-high net worth individuals.  This allows clients to remain with the firm as their level of wealth and the complexity of related estate and tax implications change over time. 

“By joining forces, we have expanded our footprint to conveniently serve clients in Maryland, D.C. and Virginia” said Jane Frankel Sims.  We are seeing some of the greatest wealth transfer in our country’s history, and we want to continue to be on the leading edge of helping our clients maintain and enhance their family’s wealth.  In addition, we aim to serve our clients for years to come, and the new firm structure will allow Sims & Campbell to thrive even after Frank and I have retired.”    

“Jane and I have always admired each other’s firms and recognized the need to provide even greater depth and breadth of focused expertise to help families amass and protect their wealth from generation to generation,” said Frank Campbell.  “Now we have even greater capabilities to make a real difference for our clients.” 

The Sims & Campbell Towson office is located at 500 York Road, on the corner of York Road and Pennsylvania Avenue in the heart of Towson.  The Annapolis office is currently located at 716 Melvin Avenue, and is moving to 181 Truman Parkway in August, 2019.  For more information, visit www.simscampbell.law.