Everyone benefits from proper estate planning, but most medical doctors have an additional layer of protection needed. With the rise in medical malpractice lawsuits, it is imperative that medical doctors utilize some essential asset protection strategies.
When helping clients create estate plans, we cover a wide range of issues such as wills, trusts, power of attorney documents, advance directives and retirement beneficiaries. We also delve into real and personal property including homes, vehicles, furnishings, collectibles and more.
When someone passes away, the person named as the personal representative under the deceased’s will is required to follow certain procedures. Those procedures include providing notice to creditors, paying debts in a certain order and distributing remaining assets to beneficiaries.
May is National Elder Law Month, as designated by the National Academy of Elder Law Attorneys. It is a way to acknowledge the profession that supports seniors and their families with all of their planning needs.
It is that time of year for high school seniors to march across the stage (maybe virtually this year) and get a diploma. Many of these students will head off to various colleges in the fall.
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by Congress to maintain stability and public confidence in the nation’s financial system. The FDIC insures up to $250,000 per depositor in eligible accounts.
After someone passes away, the estate administrator is tasked with finding and inventorying all of the decedent’s assets. In years past, the administrator would gather mail for a few months and use the financial statements collected to access bank accounts.
There are some things you need to do, even if you don’t think you need an estate plan. Your assets do not generally go where you want them to go when you pass away, unless you have an estate plan, according to Fidelityin "Estate planning must dos."
A new augmented estate law, also known as the new elective share law, was signed into law by Governor Hogan and became effective October 1, 2020. This new law may significantly impact the finances of many Maryland families who fail to initiate proper estate planning techniques to circumvent some unintended results that may occur under this law without proper planning.
We love our pets and cherish their roles in our lives more than ever during a pandemic. Planning for your pet’s care in the event of your death or incapacity can provide tremendous peace of mind.
