A plan for you and your family
Our firm provides personalized service to tailor an estate plan that protects your family assets and ensures that your wishes are carried out as planned. Many of our clients are middle class families who want to protect and pass down their assets to the next generation. Some are government or corporate employees who have accumulated their wealth through long years of loyal service. Our firm strives to keep up with the latest technologies and changes in the law.
Do I need a living trust?
What is probate?
What is unique about your firm?
Our firm is committed to providing estate planning and administration services to middle class families. These families are given value by our focus on their needs, empathy, and use of technology to keep documents current and minimize costs.
What happens if I do not have a will?
State law creates a plan to pass your assets to your heirs. The most typical scenario is to split your assets between your spouse and your children. There is a priority among persons close to you to serve as your Personal Representative or Executor. The Court will name a guardian for your children.
What is a trust?
I like to describe a trust as rules that you create to deal with certain situations such as incapacity or death. Your trustee has legal title to your assets and is charged with ensuring compliance with the rules. One rule is to name a new trustee should you become incapacitated. Another rule is how to distribute the assets upon death. The persons who receive the money are beneficiaries. The Probate Court is limited in settlement of your affairs as long as your trustee has title to your assets.
Is a trust expensive?
There are more upfront costs for trust planning as you are paying for many of the costs that could be deferred until later. Those deferred costs could be considerably larger if a guardianship is required or a will dispute arises or avoidable taxes have to be paid. Our firm helps you analyze those costs and provides you a fixed fee estimate for the cost of a trust.
From the blog
I joined the Financial Association of Maryland for a meeting at the Baltimore Office of the Federal Reserve on January 17th, 2018. Andy Bauer, Senior Regional Economist, presented a favorable economic outlook for 2018. Inflation pressures remain low as businesses are reluctant to raise prices because of competitive markets. Mr. Bauer presented the reasons why
Changes in the income tax for 2018 will affect many of our clients. Here are the limits the estate and gift tax numbers for 2018: The annual gift tax exclusion is $15,000 The Federal Estate tax exemption is $11,200,000 The Maryland Estate tax exemption is $4,000,000 The $15,000 limit is the amount you can
My approach to recommending estate planning solutions is to consider all the options available to accomplish the client’s objectives. Next, I balance the cost and complexity of more involved strategies against the risk of simpler approaches. The increase in the estate tax exemption means that some common strategies are no longer necessary for the average