NEW MARYLAND SPOUSAL ELECTION LAW – What is the spousal election, and what’s changing?
1. What is the Spousal Election? We enjoy considerable freedom in choosing who should and should not benefit from our property at death. We can disinherit children and grandchildren and instead benefit charities, friends, or any other individual or organization. However,
ESTATE PLANNING FOR BUSINESS OWNERS – The Importance of Maintaining a Corporate Minute Book
A common issue we confront with our business owner clients is a failure to adequately maintain fundamental business records. While the following discusses the importance of maintaining a corporate minute book, the same considerations apply to the governing documents for
MINOR BENEFICIARIES – Guardians, Trustees and Custodians
Parents of young children often worry about who will take care of their children if the parents die prematurely. Understandably, most parents’ primary concern in this regard is the day-to-day welfare of the children – i.e., who will ensure adequate shelter,
TRUSTS FOR DESCENDANTS – Are They Right for Me?
Most of our estate planning clients want the same thing: for their assets to pass to the people they love. For our clients with children, this typically means they ultimately want to benefit their descendants (i.e., their children, grandchildren, great-grandchildren,
ESTATE TAX PLANNING – Who Needs It?
Very few Marylanders need to worry about Estate Tax when creating or revising their estate plans. Effective January 1, 2019, only married couples with assets in excess of $10 Million and individuals with assets greater than $5 Million are subject