Family Matters Blog

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 [...]

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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 [...]

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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 [...]

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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.   [...]

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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 [...]

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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 [...]

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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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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 [...]

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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 [...]

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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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