News & Updates

Personal Representatives (PRs) of Maryland probate estates are normally required to file detailed accountings of estate financial transactions with the Register of Wills, which are then approved by the Orphans’ Court.  This can be tedious and costly. Responding to public pressure for simplification, the Maryland legislature in 1997 enacted a statute

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, and so on).  This article discusses one of the fundamental

  The following is some commonly relevant federal and Maryland income tax information for estates and trusts.  Feel free to bookmark this page for future reference. Ordinary Income Tax Rates for Estates and Trusts 2018 Federal Income Tax Rates for Estates and Trusts Taxable Net Income Federal Tax Not over $2,550 10% of taxable income Over $2,550 but not

The Tax Cuts and Jobs Act (TCJA), effective January 1, 2018, significantly alters income tax planning considerations for individuals and businesses but also impacts fiduciary income tax planning for estates and trusts. One notable change is the elimination of miscellaneous itemized deductions for estates, trusts and their beneficiaries.  Under prior law, many

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 to the tax. The Federal Estate Tax exemption for 2019 is