What is a Life Insurance Trust?
A Life Insurance Trust is a type of irrevocable trust specifically designed to hold and manage life insurance policies and the proceeds from those policies for the benefit of the …
An Estate Planning and Elder Law Practice
A Life Insurance Trust is a type of irrevocable trust specifically designed to hold and manage life insurance policies and the proceeds from those policies for the benefit of the …
When real estate is left to you in a will, the potential capital gains tax implications depend on a few key factors: 1. Step-Up in Basis Automatic Step-Up: In most …
Funding a trust involves transferring ownership of your assets into the trust so that they are managed and distributed according to the trust’s terms. Here’s a step-by-step guide on how …
Avoiding probate is a common goal in estate planning because the probate process can be time-consuming, expensive, and public. Here are several strategies you can use to minimize or avoid …
Yes, Maryland has several state-specific taxes that can impact your estate planning. Understanding these taxes is essential to developing an estate plan that minimizes tax liabilities for your heirs. Here …
An Advance Healthcare Directive is a legal document that outlines an individual’s preferences for medical treatment and healthcare decisions in the event that they become unable to communicate or make …
An estate plan typically includes a variety of legal documents that work together to ensure your assets are distributed according to your wishes, your healthcare preferences are respected, and your …
Tax laws can significantly impact your estate plan, influencing how much of your estate goes to your beneficiaries versus to the government. Here’s a summary of the key tax laws …
A pour-over will is a type of will used in conjunction with a revocable living trust to ensure that any assets not explicitly transferred into the trust during the grantor’s …
When heirs inherit assets, they generally do not have to pay capital gains tax on the inheritance itself. However, if and when they decide to sell the inherited assets, they …