A Boutique Trusts & Estates Law Firm

New Statutory Power of Attorney Form

Tuesday, May 29th, 2012

New Statutory Power of Attorney Form approved by Governor Martin O’Malley

In 2010, Maryland enacted the General and Limited Power of Attorney Act. This act created a Power of Attorney form that, if properly executed, must be honored by a financial institution. If a financial institution refuses to honor the Power of Attorney, it can be liable for the legal fees of both parties. The Act was further amended in the 2012 Maryland General Assembly session and was signed into law by the Governor.

The major changes made in 2012 to the Statutory Power of Attorney form are as follows:

The addition of language that warns the signer that the power to create or change a beneficiary designation for a retirement plan can cause the plan to be included in the gross estate of the signer. This can ultimately cause unwanted tax consequences for the estate.

The inclusion of statutory language for the designation of co-agents.

  1. A clear distinction between a Guardian of the Person and a Guardian of the Property.

The new statutory form will be effective on October 1, 2012. Powers of Attorney executed using the old form will still be protected by the law.

If you have not yet executed a Statutory Power of Attorney, or have questions about whether you should update a previously executed Power of Attorney, please call Frankel Sims Law at (410) 828-7775.

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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.