How Can I Minimize My Probate Estate? – Annapolis and Towson Estate Planning
Estate planning is not just for the wealthy. Anyone with a bank account, house, car or other personal property should have a will.
What Do You Need to Do When a Spouse Dies? – Annapolis and Towson Estate Planning
Death, while inevitable, is not often predictable. This can leave many people financially unprepared if their spouse suddenly dies–especially if the deceased was the one that took care of the household balance sheet.
Does a Beneficiary have to Pay Taxes on 401(k)? – Annapolis and Towson Estate Planning
If you anticipate inheriting a 401(k) from a parent, a spouse or someone else, it’s important to know your options for minimizing tax liability.
Can Trusts Help Create Wealth? – Annapolis and Towson Estate Planning
One type of trust, the qualified perpetual trust, can be used to pass assets down to your beneficiaries, decade after decade.
What are Alternatives to Guardianship? – Annapolis and Towson Estate Planning
We all want to protect vulnerable people from harm. However, taking away all their rights usually isn’t the place to start. Instead, there are several less severe options that could be the right way to go.
How to Plan in a Time of Uncertainty – Annapolis and Towson Estate Planning
Pandemics, inflation, rising interest rates, war in the Ukraine—uncertain times indeed! And yet, in the world of estate planning, almost every change in the zeitgeist offers its own suite of planning opportunities and applicable techniques.
How are Capital Gains in Irrevocable Trust Taxed? – Annapolis and Towson Estate Planning
Investors use irrevocable trusts to protect their assets from creditors, lawsuits and estate taxes. However, when you sell a home in an irrevocable trust, that can complicate your tax situation.
Can Estate Planning Reduce Taxes? – Annapolis and Towson Estate Planning
Upstream basis planning is a trust strategy that can save wealthy people on their capital gains taxes and income taxes associated with highly appreciated assets.
What Is Power of Attorney and Is It Important? – Annapolis and Towson Estate Planning
Of all of the essential estate planning documents, the durable general power of attorney is usually the document that is needed first.
What Is Better, a Trust or a Will? – Annapolis and Towson Estate Planning
Preparing an estate plan for managing and distributing your assets in the case of death is one of the most important steps you could take to protect and provide for loved ones.