WHO TO TELL?

February 2024. Q: When I sign a power of attorney or will, who knows about it? A: Only you, your attorney, and anyone you tell. Your attorney can’t even disclose that he or she has met you, and certainly can’t disclose that you’ve signed a power of attorney or will,...

YOUR QUESTIONS ANSWERED – JANUARY ’24

January 2024. Q: I need a trust so my kids don’t have to pay a boatload of taxes. A: Actually, a trust doesn’t avoid taxes. In fact, a trust might actually increase the taxes due if your estate plan is not correctly set up. For example, if your IRA or 401(k) pays to...

INTESTACY

December 2023. Q: What happens if everyone named in my will is deceased? A: Under Maryland law, if you are not survived by the beneficiaries named in your will, your estate will be distributed as if you had no will (“intestacy”). Assuming your spouse and children and...

THANK YOU!

November 2023. The man plucked at my elbow in the Post Office the other day. “You’re that guy!” he exclaimed, “that guy who writes for the paper.” Relieved that he had not mistaken me for some old enemy, I nodded and smiled. “Wait a minute, I know you!” said the...

SOME QUESTIONS ON TRUSTS – PART TWO

October 2023. Q: I have a disabled daughter. Do I really need a trust? Can’t I just leave everything to my son to use for his sister? A: Yes, you can do that, but I’m not sure you should do that. If you leave everything to your son to use for his sister without any...

SOME QUESTIONS ON TRUSTS – PART ONE

September 2023. Q: Do I need a trust? A: A trust is a bucket to hold money, for someone – a “beneficiary” – that needs the money but can’t have it in their own name. The classic beneficiary is a young child, someone with special needs, or someone consistently making...