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...
January 2023. Are your parents or your spouse starting to show signs of dementia? Do they have an updated power of attorney for medical and financial decisions? If not, you might need to consider guardianship. Do you have your own business? Have you made provisions...
December 2022. Because we are time-bound mortals, the change of seasons reminds us of changes in our lives and of their fragility. With the opening of each year comes a new opportunity to consider your estate plan and make sure it is up-to-date – or to make one if you...
