A Boutique Trusts & Estates Law Firm

Governor Enacts Estate Tax Cut

Thursday, May 29th, 2014

On May 15, Governor Martin O’Malley signed a new law that will ease the estate tax burden for thousands of families. Under prior law, estates of decedents owning $1 million or less are exempt from estate tax, and larger estates are taxed on wealth in excess of $1 million (at an initial rate of 16%). Under the new law, that $1 million exemption amount is going to increase in future years, as follows:

Year of DeathExemption Amount
2015$1,500,000
2016$2,000,000
2017$3,000,000
2018$4,000,000
2019[Federal Exemption]

In 2019 and later years, the estate tax exemption will equal the federal estate exemption, which is currently $5,340,000 and increasing for inflation annually.

Most clients of Frankel Sims Law will not need to revise their estate planning documents to take advantage of the new tax cuts. Although the cuts could not have been predicted before January of this year, we have long anticipated such changes and built a degree of flexibility into most clients’ tax plans. If the estate tax exemption will rise above the expected value of your taxable estate at some point over the next four years, we advise you to contact us for a review of your plan before that time arrives.

AVVO Logo
Leadership-in-Law-Logo

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.