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 [...]
More About Protecting Your Children Read Full Post »
Posted in Estate Planning on Jan 2nd, 2012
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 [...]
More About Non-Probate Assets Read Full Post »
Posted in Estate Planning on Dec 29th, 2011
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 [...]
More About Gifting Read Full Post »
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. ____ Kinsey Law Group, P.C. was formed to [...]
Read Full Post »
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 [...]
More About Estate Planning Read Full Post »
Posted in Estate Planning on Dec 26th, 2011
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. [...]
More About Long Term Care Read Full Post »
Posted in Estate Planning on Dec 22nd, 2011
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 [...]
More About Do-It-Yourself Estate Planning Read Full Post »
Posted in Estate Planning, Trusts, Wills on Dec 19th, 2011
The following is a list of tips you can use to help you find a qualified attorney. Tip #1: Choose an attorney you trust. Nothing is more important in a lawyer/client relationship than having a lawyer you trust. Tip #2: Choose an attorney who creates your estate plan his/herself. If the attorney has an assistant [...]
More About Choosing a Qualified Lawyer Read Full Post »
Community Property – In certain states, known as community property states, all assets acquired during a marriage belong equally to both spouses (jointly). There is an exception for gifts and inheritances given specifically to one spouse. The states which are known as community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas and [...]
Read Full Post »
Posted in Estate Planning on Dec 13th, 2011
Siblings often have trouble agreeing on anything, so why should it be any different when it comes to Mom and Dad’s elder care? Unfortunately, those of us in elder law see quite often how families have a very difficult time when it comes to determining what is best for aging parents. In some cases, one [...]
More About Eler Care Read Full Post »