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Recent Blog Posts

Estate Planning for Unmarried Couples
Creating a will or trust allows you to designate who will receive your assets after you pass away. You can name your partner as the sole beneficiary in your will or trust or you can designate only certain assets to be distributed to your partner.
April 25, 2021
Outright Gift or Irrevocable Trust?
While many families may prefer the simplicity of outright gifting, setting up an irrevocable trust may be a better way to preserve assets for the future and provide a longer legacy. An irrevocable trust cannot be changed after it is created.
April 23, 2021
Do You Treat Children Fairly or Equally?
It can be a difficult task in estate planning to figure out how to divide an estate unequally but fairly between children, according to the Wills, Trusts & Estates Prof Blog in "Dividing Your Wealth Among Your Children."
April 22, 2021
The SECURE Act Eliminated the “Stretch IRA” – Other Options to Make Your IRA Last
Recently, the SECURE Act (Setting Every Community Up for Retirement Enhancement Act of 2019) imposed a 10-year limit on distributions from an inherited IRA. A beneficiary who is not the IRA owner’s spouse is now required to withdraw all funds from the inherited IRA within a 10-year period.
April 21, 2021
Inheriting Property Encumbered by Liens or Mortgages
As you may already assume, the mortgage does not simply disappear. It must be repaid, but there are several different approaches available to pay it off.
April 16, 2021
Do Heirs Want the Vacation Home?
While the children may have fond memories of the family vacation home, they may not be able to afford it or even want it after you pass, according to the Globe and Mail in "How to keep the cottage in the family."
April 15, 2021
The Dangers of Hoarding Behavior in the Elderly
“Waste not, want not” is a widely held belief system for America’s baby boomer generation and the elderly. While conservation and frugality can be a beneficial strategy, in excess, this belief system can lead to dangerous hoarding behavior.
April 12, 2021
The Impact of Capital Gains Tax on Estate Planning
Figuring out how transferring assets via gift or inheritance will trigger capital gains taxes is an important step in a comprehensive estate plan. Factoring in tax impact is an important part of your investing strategy as well as your estate planning strategy.
April 9, 2021
What If You Can’t Keep Them Down on the Farm?
Some farmers are caught between wanting to see their farm operation continue after they are gone and the fact that their children have no interest in working a farm, according to the Iowa Farmer Today in "Good fences make good neighbors."
April 8, 2021
Reducing the Risk of Dementia
As we age, the risk of dementia exponentially increases. Dementia encompasses a wide variety of diseases related to cognitive decline.
April 7, 2021
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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.

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Stouffer Legal, Elder Law Attorney, Towson, MD