A recent change in Maryland’s “spousal election law” (effective October 1, 2020) could significantly impact estate plans for married individuals, particularly those with “blended families.” A brief synopsis of this change is available HERE. Certain strategies available under prior law to
This article is part of a series of articles addressing various issues with DIY planning. An introduction to this topic was published on February 12, 2020. Now, we address perhaps the most troubling aspect of the DIY estate planning arrangement
Business owners often have a substantial portion of their wealth invested in their businesses and related real estate. This creates challenges in satisfying the desire to retain control, transfer value to children or other family members, and to minimize potential
Many people, particularly young adults, do not prioritize establishing or maintaining an estate plan. This may be for a myriad of reasons. One explanation we hear from many is that they believe their assets would pass the same way by
The Coronavirus Aid, Relief, and Economic Security ("CARES") Act, enacted in response to the 2020 coronavirus pandemic, includes several provisions that modify retirement account contribution and distribution rules. For example: Retirement account owners may withdraw up to $100,000 from retirement
Governor Hogan authorizes remote notarization and witnessing during COVID-19 crisis. The COVID-19 health crisis presents a unique challenge for estate planning attorneys. Traditionally, most estate plan documents were executed under the attorney’s direct supervision in a face to face meeting.
Because of the simplification of estate tax planning and the rise in probate avoidance techniques, we are finding that, for many, the only asset that is governed by a decedent’s Will is their car. Traditionally, the decedent’s family would have to
WHAT YOU DON’T KNOW CAN HURT YOU Online services like LegalZoom and Rocket Lawyer allow customers to produce Wills and other estate planning documents inexpensively without the assistance of an attorney. Understandably, many consumers are attracted by low upfront costs; however,