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
After Congress passed the Tax Cut and Jobs Act of 2017 the Comptroller’s Office came up with estimates of substantial revenue increases for Maryland as the loss of deductions on the Federal return carried over to State return. The Comptroller’s office estimated that 71% of Maryland taxpayers will be unaffected, 6% will pay less taxes,
Steven Berger was a recent guest on “Swim with Jim” and asked questions on: How do attorneys plan of income taxes in estates? How the “Tax Cut and Jobs Act” will affect estate planning? What I expect to happen with Maryland Estate and Income taxes? What opportunities do I see right now? I updated Jim
I had the privilege of attending the Heckerling Institute on Estate Planning in January. The size of the conference is almost overwhelming with live streaming in two large auditoriums, on televisions in the hallways and even in the hotel rooms. The “Tax Cuts and Jobs Act of 2017” was of primary concern to attendees. The