April 2024. Q: I’m not married to my partner, but want to leave everything to my partner when I die. I’ve heard that there are huge taxes. What can I do? A: If you and your partner are “domestic partners,” the Maryland inheritance tax that levies a 10% tax when your...
March 2024. Q: I’m not married to my partner. I have kids from my marriage. Why do I need a will? Won’t everything just go to my kids, since my partner and I aren’t married? A: As of last year, your “domestic partner” becomes like a spouse, and will get half of your...
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,...
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...
December 2023. Revised August 2024 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 (everything you own that does not have a living joint owner or beneficiary)...
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...
