Estate Planning for Blended Families – Annapolis and Towson Estate Planning

• Post category:Blended Families/Estate Planning/Estate Planning Attorney/Surviving Spouse/TOD (Transfer on Death)/Transfer/Trusts/Wills

Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.

Another Reason Why You Need an Estate Planning Attorney – Annapolis and Towson Estate Planning

• Post category:Decedent/Estate Planning/Estate Planning Attorney/Generations/Grantor/Inheritance/Property Transfer

Property law can be complex and arcane, even for lawyers and judges. The rule against perpetuities is an example of how older property laws can influence how families transfer and inherit property rights.

How Does a Business Owner Create an Exit Strategy? – Annapolis and Towson Estate Planning

• Post category:Business Succession Planning/Charitable Planning/Estate Planning/Estate Planning Attorney/Probate/Retirement/Tax Planning

You spend a lifetime building your business, so it’s crucial to have a game plan when it’s time to leave. Being prepared will help optimize the transition from a financial and tax perspective.

Will Making a Gift Conflict with Medicaid? – Annapolis and Towson Estate Planning

• Post category:Capital Gains/Elder Law Attorney/Estate Planning/Estate Planning Attorney/Estate Tax/Exemption/Gifts/Medicare/Medicaid

Understanding the different treatment of gifts by the IRS, Medicaid and VA systems can ensure that property passes as expected.

What Should Not Be Kept in a Safe Deposit Box? – Annapolis and Towson Estate Planning

• Post category:Estate Planning/Estate Planning Attorney/Health Care Power of Attorney/Power of Attorney/Safe Deposit Box/Trusts/Wills

A safe deposit box is the perfect place to store certain valuables.

What Do You Need to Do When a Spouse Dies? – Annapolis and Towson Estate Planning

• Post category:Assets/Beneficiaries/Descendants/Estate Planning/Estate Planning Attorney/Joint Ownership/Last Will and Testament/Surviving Spouse/Trusts

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

• Post category:401(k)/Beneficiaries/Estate Planning/Estate Planning Attorney/Income Tax/Inheritance/IRA/Retirement/Tax 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.

IRS Extends Portability Election Option Deadline from Two to Five Years – Annapolis and Towson Estate Planning

• Post category:Decedent/Estate Planning/Estate Planning Attorney/Executor/Personal Representative/Portability Election/Surviving Spouse

Portability allows spouses to combine their exemption from estate and gift tax. This allows a surviving spouse to use the unused estate tax emption of the deceased spouse.

Actress Helen McCrory Leaves Money in Trust – Annapolis and Towson Estate Planning

• Post category:Asset Protection/Charitable Donation/Estate Planning/Estate Planning Attorney/Executor/Inheritance/Trusts/Wills

Helen McCrory had a huge net worth at the time of her death.

Must I Pay for Spouse’s Debt If They Die? – Annapolis and Towson Estate Planning

• Post category:debt/Estate Planning/Estate Planning Attorney

If husband and wife did not own together or separately any land, a house, a boat etc. but only rented a home and had no children, is the surviving spouse responsible to pay medical bills that insurance did not cover?