In Maryland, just as everywhere else in the nation, there is a tendency for people to put off estate planning. Elder law attorneys recognize that there are multiple factors that lead people to procrastinate when it comes to the process. One of the biggest factors, of course, is that most people don’t want to consider [...]
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People often mistakenly believe that their revocable trusts can protect their assets from lawsuits. When assets are transferred into your trust, they are still within your control. You can sell, invest or give away the assets. Your revocable trust is simply a mirror image of you – you are the creator of the trust, the [...]
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Many Bethesda and Upper Marlboro seniors are making strides toward estate planning by working with their elder law attorneys to set up what they believe are the appropriate wills and trusts. The goals with this type of planning are most commonly to: avoid probate, make decisions regarding trust administration, and—most importantly—to protect your assets for [...]
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As an asset protection lawyer in Bethesda and Upper Marlboro, I find that sometimes it makes sense to advise clients to create multiple LLCs when they own more than one investment property. While it might seem more convenient to simply set up one LLC for all of your properties, you can maximize your asset protection [...]
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When it comes to wills and trust administration, it seems like we see it all here in Bethesda and Upper Marlboro. From pet trusts to special needs trusts, there are a variety of unique circumstances that need to be addressed in many people’s estate planning. One such concern is that of a gun trust. Wills [...]
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Couples who choose to marry later in life have different concerns from those marrying earlier, and a good Bethesda estate planning lawyer can help you make the right decisions for your circumstances. Each situation is a little different, but there are some fairly common topics that should be considered: Do the husband and wife have [...]
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I hear the same excuses over and over…. I don’t have an “estate.” I have more debt than assets. The only thing I have is my home. As you may have guessed, these are excuses that people make for not preparing an estate plan. These people are sadly misinformed. They think estate planning is only [...]
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When it comes to estate planning in Maryland, there are many misconceptions. Over the years, I have noticed some common themes in the way some people think about Trusts. In this post, I will discuss 5 common misconceptions I regularly encounter when helping people in Bethesda and Upper Marlboro get their financial affairs in order. [...]
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When it comes to estate planning in Maryland, there are many misconceptions. Over the years, I have noticed some common themes in the way some people think about Wills. In this post, I will discuss 4 common misconceptions I regularly encounter when helping people in Bethesda and Upper Marlboro get their financial affairs in order. [...]
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Posted in Estate Planning on Apr 5th, 2010
Myth: A Revocable Trust Can Protect Your Assets From Lawsuits Fact: There are a couple of reasons why a Revocable Living Trust will not protect your assets from lawsuits: (1) You have the ability to change the terms of the trust when ever you want and you have the ability to add assets to the trust [...]
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