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It’s the New Year which means millions of Americans will make resolutions to finally get their financial affairs in order.  Maybe for you that means taking a cold, hard look at your credit card debt and making a plan to pay it off or taking out that life insurance policy you know you need but never got around to purchasing.

When it comes to estate planning, there are easy steps you can take to make sure your children, wishes and assets stay protected if anything happens to you.

Download this free special report from attorney Nicole K. White and discover:

• How to name short and long term guardians for your children

• If you need a will, trust or both

• How to protect your financial interests with a power of attorney

• How to protect your medical wishes with a “Living Will” or Advanced Health Care Directives

•  . . . . and more!

Download your FREE report here.

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Kinsey Law Group, P.C. was formed to focus on the needs of families.  We are dedicated to assisting you in the areas of Estate Planning and Assisted Reproduction/Surrogacy.  If you have questions or concerns, you’re invited to call 301-968-1630 or send an e-mail any time, without cost or obligation.

Locations: Montgomery County (Bethesda, Maryland); Prince George’s County (Largo, Maryland) and Washington, D.C.

 

Decedent - The person who has died.

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Kinsey Law Group, P.C. was formed to focus on the needs of families.  We are dedicated to assisting you in the areas of Estate Planning and Assisted Reproduction/Surrogacy.  If you have questions or concerns, you’re invited to call 301-968-1630 or send an e-mail any time, without cost or obligation.

Locations: Montgomery County (Bethesda, Maryland); Prince George’s County (Largo, Maryland) and Washington, D.C.

Parents in Maryland rely on a lot of outside help when it comes to raising their children.  From family members to school systems to friends who pass on advice and hand-me-downs, it really does take a village to raise a child.  When it comes to estate planning, however, it is up to you to determine what is best for your minor children.

As an estate planning attorney, I recommend that all parents in Bethesda and Upper Marlboro who have children under 18 make planning a priority.  No one wants to consider the idea that they will not be able to raise their kids, but the unforeseen does happen.  By putting a plan into place while you are young and healthy, you can help determine your children’s future, even if you aren’t able to play the role in it that you had hoped. More About Protecting Your Children

When preparing your estate plan, keep in mind that some of your assets may not need to go through probate.  Probate is the process by which legal title to property is transferred from the deceased person’s estate to his/her beneficiaries.  Non-probate assets do not go through this process. So, what are non-probate assets?  Non probate assets include: More About Non-Probate Assets

Rather than brave the crowds and agonize over finding the perfect presents this year, why don’t you reserve this holiday season for making large gifts that lower your taxable estate instead?

Thanks to the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, you can still make gifts up to $13,000 (or $26,000 for married couples) completely tax-free this year.

And, if you’re feeling really merry this holiday season, the legislation also allows for a lifetime gift exemption up to $5 million dollars for 2011 and 2012.  That means you can give up to $5 million in your lifetime without getting hit with a bill from Uncle Sam. More About Gifting

Crummey Trust – An irrevocable trust that grants a beneficiary the power to withdraw all or a portion of assets that are contributed to the trust. The typical purpose of this trust is to enable the contributions to the trust to qualify for the annual exclusion.

 

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Kinsey Law Group, P.C. was formed to focus on the needs of families.  We are dedicated to assisting you in the areas of Estate Planning and Assisted Reproduction/Surrogacy.  If you have questions or concerns, you’re invited to call 301-968-1630 or send an e-mail any time, without cost or obligation.

Locations: Montgomery County (Bethesda, Maryland); Prince George’s County (Largo, Maryland) and Washington, D.C.

As a wills and trusts lawyer in Bethesda and Upper Marlboro, it’s easy to see why so many people put off writing their will.  After all, no one really wants to think about their own death, let alone prepare for it.  In reality, though, preparing by creating a will is exactly what we should all be doing.  There are plenty of reasons to consider, and any reputable wills and trusts lawyer will be able to go through the list with you to ensure that you are protecting your assets and the people you love. More About Estate Planning

Long-term care is an issue most people avoid like the plague.  No one likes to think about getting old, losing their independence or having to spend any length of time in a nursing home or other long-term care facility.

Because of these fears, many people tune the issue of long-term care planning out all together.   They plug their ears to the warnings of their financial advisors, doctors and even close family and friends that the time to plan for the inevitable is now. More About Long Term Care

Online estate plans and document “kits” are all the rage these days.  They typically appeal to people who are looking to save money and at least get something in writing should they pass away.

I’ve actually worked with quite a few of such people in my own practice, namely when their do-it-yourself plan backfires and fails to protect their loved ones in a true emergency.

It’s no secret that budget estate plans notoriously fall apart and set well-meaning people up for a nasty TRICK, instead of a treat, when the unthinkable happens.  And the worst part is that it often costs families far more to fix these mistakes than it would have to work with an attorney in the first place. More About Do-It-Yourself Estate Planning

Conservator - An individual or a corporate fiduciary appointed by a court to be legally responsible for the management of property and money belonging to a minor or incompetent person.

Conservatorship – A court controlled program where a conservator is appointed by the court to manage the financial affairs of a person who is unable to manage his/her own affairs.

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Kinsey Law Group, P.C. was formed to focus on the needs of families.  We are dedicated to assisting you in the areas of Estate Planning and Assisted Reproduction/Surrogacy.  If you have questions or concerns, you’re invited to call 301-968-1630 or send an e-mail any time, without cost or obligation.

Locations: Montgomery County (Bethesda, Maryland); Prince George’s County (Largo, Maryland) and Washington, D.C.

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