Estate and Legacy Planning

Two Wives, One Operating Agreement, Zero Estate Certainty

A recent Maryland case, Potter v. Potter, reminds estate planners to stress to our clients the importance of updating legal, estate, and business documents upon significant life events such as divorce, marriage, and death. In Potter v. Potter, a member of an LLC died. The operating agreement of the LLC stated that if his death […]

Maryland is Considering Transfer on Death Deeds - Are TODs Right for You?

A common method of avoiding probate for real estate (in states that allow it) is the creation of a Transfer on Death (“TOD”) Deed. Virginia, Washington, D.C. currently allow for TOD Deeds. Maryland does not, however, in this session of the Maryland legislature, the topic is being discussed. This method of transferring real estate upon death […]

Are Holographic Wills Valid? The Latest in Larry King's Estate Drama

Legendary television and radio host, Larry King, passed away at the end of January after a battle with COVID-19. He was 87 years old at the time of his death and had been in the midst of divorcing his seventh wife, Shawn King. Early reports indicated that the couple had done an estate plan together […]

Is Your Estate Plan Up to Date?

With the coronavirus having the world in its grip for months, there is no better time than now to review and update your estate plan. It is recommended that after creating an estate plan, you update it every three to five years. Today, with the coronavirus sweeping the country and the rest of the globe, it is more important […]

What Makes a Good Estate Planning Attorney?

Recently, a new client came to us to discuss her mother’s estate planning, as well as concerns regarding an irrevocable trust that her dad had created for her mom. We told her, in less than 1 hour, what mom should do for her estate plan, as well as how to change the trust to minimize […]

Gifting Assets to Offspring: Deciding Between Irrevocable Trusts and UTMAs

There are better ways of gifting property to your offspring than simply ‘handing it over’. Both irrevocable trusts and Uniform Transfers to Minors Act (UTMA) accounts offer you flexible ways of gifting property that would otherwise be unavailable, risky or extremely inconvenient. An irrevocable trust is established under the law of trusts, which is ultimately […]

Legacy Planning: Think Several Generations Ahead

Plan now to prevent your descendants from squandering your wealth after you die. According to an ancient Chinese proverb, “Wealth does not pass three generations” -- the first generation builds the wealth; the second generation is inspired to preserve it by witnessing the hard work of their parents; and the third generation, having never witnessed […]

Why The Holidays Are a Great Time to Talk About Estate Planning

As the holiday season approaches, we anticipate joyous family gatherings, great food, holiday merriment, and…estate planning? While it may seem like a taboo topic for a fireside chat, estate planning is critically important and the holidays can present the perfect time to get things in motion. Here are some important things to consider: Home for […]

Estate Planning for Maximum Business Growth Tips

Most folks know that estate planning is an essential component of long-term financial planning and they figure they have time to get around to addressing it. But if you are a business owner or have a professional practice, it is critical that you start Estate Planning for Maximum Business Growth now. Success of Estate Planning for […]

How New Tax Law Effects Estate Planning

If you are like many Americans, you know estate planning is important, but you just haven’t gotten around to it yet. Or if you have an estate plan, once it was completed, you probably crossed it off your to-do list forever. Not so fast. You may be curious about how the new tax law effects […]

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