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Provide You and Your Family Peace of Mind

Many people think they are “too young” or do not have enough resources to plan their estate. These are common misconceptions that can effect a family for generations.  Estate Planning is more than a set of instructions that tells the government who your property...

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Do Your Parents Have an Estate Plan?

Are you in the “sandwich generation” (someone who is caring for both your children as well as your parents simultaneously)?, If so, you need to know whether or not your parents have an estate plan. While it is still your parent’s choice to make estate planning...

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Why Joint Tenancy Should Not Be the Go-To Plan for Newlyweds

If you are recently married or have been married and are acquiring additional assets, know that you have options when it comes to how the property will be titled. And, although joint tenancy seems like an easy and convenient choice, it may not work as well as you...

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Your Post-Honeymoon Legal Checklist

Your wedding is over and the day was absolutely perfect. You went away on your honeymoon with your new spouse and had the time of your lives. Now you are back and can breathe a sigh of relief and watch the rest of the years ahead unfold before your eyes. Well, not so...

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How to Choose a Trustee

When you establish a trust, you name someone to be the trustee. A trustee does what you do right now with your financial affairs - collect income, pay bills and taxes, save and invest for the future, buy and sell assets, provide for your loved ones, keep accurate...

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Maryland income tax refund granted by the Supremes

The Supreme Court (Comptroller of the Treasury of Maryland v. Wynne) has found that Maryland acted unconstitutionally by not giving its residents a full credit for taxes paid to other states. While Maryland was giving a credit for the Maryland state income portion of...

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Mistake #8 – Failing to Take Care in Funding the Trust

It is not unusual for people to transfer existing assets to their trust, but then forget to add new ones. It bears repeating: a trust can only control the assets that are placed into it. Any assets purchased or accounts established after the initial funding is...

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Mistake #7 – Not Keeping Your Plan Up to Date

Every estate plan is based on the personal, family and financial situations, and tax laws, in effect at the time it was created. All of these will change over time, and your plan needs to change with them. It’s a good idea to review your plan every couple of years or...

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Mistake #6 – Not Funding a Trust

A trust can only control the assets that are placed into it. A good visual to use is that of a trust being an empty bucket and funding the trust is the same as filling the bucket. The trust document may be written well and have excellent instructions, but until it is...

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