What to Do with an Inherited IRA? – Annapolis and Towson Estate Planning
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. We help you get the most out of a legacy.
How to Protect Assets from Medicaid Spend Down? – Annapolis and Towson Estate Planning
Several types of special income trusts and other strategies can be helpful when trying to protect your family’s assets from the devastating costs of long-term care.
Do I Need a Living Trust? – Annapolis and Towson Estate Planning
What Is a Living Trust?
Who Pays Mortgage When I Pass Away? – Annapolis and Towson Estate Planning
One important aspect of estate planning is deciding what will happen to your home after you die. The answer might be fairly cut and dry if the home is fully paid for. If it’s not, though, you’ll need to consider the financial ramifications for your estate and for the person who inherits the home.
What is a ‘Property Trust’? – Annapolis and Towson Estate Planning
Trusts are useful financial tools, often used for the purpose of planning an estate. A trust is essentially a legal framework into which ownership of assets can be placed. These assets can include financial products like stocks and bonds, or it can include real physical property, like land, jewelry or vehicles.
How Can I Pass Wealth to My Children and Grandchildren? – Annapolis and Towson Estate Planning
Inherited assets come with benefits, along with some burdens
What is the Difference between a Trust and a Will? – Annapolis and Towson Estate Planning
No one relishes the thought of the day they pass away and leave all their worldly possessions behind. However, it’s a certainty that no one can avoid. Thankfully, you have options for planning for what happens to your estate, including a will or a family trust.
Why Do Families Fail when Transferring Wealth? – Annapolis and Towson Estate Planning
Over the next 25 years, analysts anticipate $68 trillion to be passed down to younger generations and charities. While the importance of legacy planning is not limited to the forthcoming Great Wealth Transfer, it does spotlight the significant amount of wealth that has been created, primarily by Baby Boomers, and the need to transition these assets thoughtfully.
Do I Need a 529 Education Savings Plan? – Annapolis and Towson Estate Planning
Most of us associate 529 accounts as college savings vehicles. They’re flexible, allowing you to transfer assets to anyone, including yourself, for the express purpose of furthering the education of your beneficiary. However, did you know that a 529 can also be a powerful estate planning tool?
What Should Small Business Owners Know about Estate Planning? – Annapolis and Towson Estate Planning
Small business owners have their hands overflowing with issues, and they devote most of their time to matters related to the smooth running of the business. Having no time to think about other matters, they do not bother about estate planning for them.