Stouffer Legal Blog

Whether dealing with a trust or administering a will after a loved one has passed away, there are times when an executor or trustee may be inclined to liquidate assets and distribute cash to beneficiaries rather than transfer real property, stocks or other investment holdings. It is in the discretion of the trustee or executor to make this decision as long as they are able to get close to fair market value for the assets.

This is definitely a year that will go down in history books for many reasons, especially the pandemic of covid-19. It is also an election year and if current projections ring true there could be a democratic sweep take place in November.

As we age, simple things we took for granted as kids become more difficult -- and more expensive. That’s a truth all of us know. What you may not realize is that the aging middle class will face unique difficulties going forward.

Step one in the process of creating a senior care plan is to review the senior’s home environment, activities of daily living, health status and financial situation. While assessing the situation you will want to gather information and notice any gaps in care, areas that need to be addressed and list out step-by-step all daily activities needed.

There are many planning techniques that can benefit individuals seeking to find long-term care while also protecting a family home so it may be passed down to the next generation. The key is to plan ahead. Medicaid has a five-year look-back period where assets transferred during that window may be recaptured.

Seniors have a reputation of being some of the most reliable voters. There will be many more challenges ensuring that every vote counts in the 2020 election.

There two schools of thought when it comes to leaving inheritances, according to Forbes in "Why Not To Leave Too Much To Your Grown Up Kids." It is generally accepted that when parents pass away, everything they have left will be inherited by their children.

Safety - Whether it is the safety of the senior or your own safety, this is often the first and Top 5 Signs that Indicate It May Be Time to Move to Memory Care

During the course of estate planning discussions, many people communicate to their estate planning attorneys that they simply want to leave their inheritance in such a manner that it stays in their bloodline. The fact that approximately 50% of all marriages in the United States end in divorce makes those same people weary of a son-in-law or daughter-in-law

Under Maryland state law, executors/personal representatives are entitled to payment for their work in administering an estate. Often the wording included in a Last Will and Testament will state a flat fee, contingency fee (based on transactions or size of the estate) or simply claim an executor is entitled to ‘reasonable compensation’.