Ask Mom if She has a Will – Annapolis and Towson Estate Planning
My mother told me many times over the years that she had a will, and I believed her. When she passed away, we discovered that her will was 40 years old—and completely useless.
What Penalties Hurt Retirement Accounts? – Annapolis and Towson Estate Planning
The following are penalties to avoid at all costs when contributing to or withdrawing from retirement accounts.
What Is a QTIP Trust? – Annapolis and Towson Estate Planning
A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust's assets are split up after the surviving spouse dies.
How Does a Business Owner Create an Exit Strategy? – Annapolis and Towson Estate 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.
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.
What’s the Most Important Step in Farm Succession? – Annapolis and Towson Estate Planning
Succession and estate planning is difficult and time-consuming. However, it is also a key step for a business that can grow into the future.
Pay Attention to Income Tax when Creating Estate Plans – Annapolis and Towson Estate Planning
Avoidance of estate taxes is one consideration in estate planning.
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.
When Should I Hire an Estate Planning Attorney? – Annapolis and Towson Estate Planning
Here are four types of estate situations that could call for professional legal help.
Does Potential IRS Change Have an Impact on Estate Plan? – Annapolis and Towson Estate Planning
The IRS is weighing a change that could leave your heirs poorer than you might hope.