Stouffer Legal Blog - Estate and Elder Law in Towson, Maryland

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What Are Qualified Education Expenses Under a 529 Plan?

Since the laws have changed to allow a grandparent to fund a 529 plan for education expenses without it negatively impacting the student’s ability to qualify for federal financial aid, many grandparents are seriously considering this gifting option. Many still wonder about the flexibility of the plan and what it can actually be used to buy.

July 27, 2022

Protecting Digital Assets in Your Business Succession Plan and Personal Estate Plan

Digital assets are often overlooked during the inventory phase of creating business succession plans and personal estate plans. Many digital assets can be quite valuable and need to be properly identified and protected.

July 25, 2022

Managing Psychiatric Symptoms in Dementia Patients

Caregivers, whether paid or family members, who deal with seniors experiencing dementia related symptoms often wonder how to best manage psychiatric symptoms such as paranoia, hallucinations and delusions. Many psychiatrists advise that trying to argue or rationally explain the incidences is not the best approach.

July 22, 2022

Estate Planning When Difficult or Estranged Family Members are Involved

Estate planning can be complicated for harmonious families but can be especially difficult when there are family members who suffer from addictions, cannot properly manage money or are estranged from the family altogether. With the rise of drug addictions in the United States, this scenario is becoming increasingly and alarmingly common.

July 20, 2022

Determining if Your Estate is a Regular Estate or Small Estate Under Maryland Law

Maryland law divides probate estates into two types – small estates and regular estates. You must first determine which one fits your situation to know which steps to take next in the probate process.

July 18, 2022

Grandparents and 529 Plans – What You Need to Know

Many grandparents look for ways to transition wealth to younger generations in a manner that helps out the families. Working parents may be struggling to pay the soaring tuition rates and one way grandparents can contribute is to set up 529 college plans for their grandchildren.

July 13, 2022

Art Therapy for Seniors

Art therapy uses various types of creative arts to help seniors cope with stress. While there are professional art therapists, taking regular art classes and engaging in independent creative activities produce similar benefits.

July 11, 2022

Flexibility is Key When Using Common Pot Trusts

Many parents creating their estate plan may look for ways to adequately provide for their minor children if they pass away. One strategy is to create a common pot trust which allows you to pool certain assets that can be used for the benefit of multiple beneficiaries.

July 8, 2022

Transitioning Your Business Through a Buy-Sell Agreement Combined with Good Estate Planning

If you fail to create a business succession plan, when you die your business becomes part of your probate estate. Your business can lose significant value during the time it takes to probate your estate.

July 6, 2022

Getting Cash Out of Life Insurance Policies

With rising inflation and other issues causing economic concerns, many seniors may be looking to life insurance policies as a financial solution. While life insurance can serve as a source of needed income there are some drawbacks.

July 4, 2022

We are a local Estate Planning firm helping Maryland families plan ahead before a crisis happens. Creating Wills and Trusts by learning your unique story. A sound Estate Plan helps to protect and preserve assets during disability, incapacity, and at death. It may also minimize tax exposure and encourages families to plan inheritance during life and outside of the courts.

Office Address:

658 Kenilworth Drive, Suite 203
Towson, MD 21204

Phone: (443) 470-3599

E-mail : office@stoufferlegal.com

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