Downs Law Firm, P.C.
While this proposal is still subject to legislative approval, if enacted, it would expand the number of estates subject to Maryland estate tax, potentially increasing the tax burden on families and heirs. If your assets exceed $2 million, now is the time to reassess your estate plan and consider tax-saving strategies.
In the realm of estate planning, a common adage rings true: “Failing to plan is planning to fail.” As an experienced estate planning attorney, I’ve witnessed firsthand the turmoil and heartache that can ensue when individuals neglect the crucial step of…
There is a popular misperception among many seniors that in order to protect their assets from creditors, including the cost of nursing home care, they should consider gifting their assets to their children.
One of the most significant changes Americans will soon see is the sunsetting of tax laws under the Tax Cuts and Jobs Act (TCJA) of 2017.
No one likes doing taxes, but the task is even more daunting when filing a return for someone who has died.
John R. Nelson was Prince’s brother and oldest brother. He was born in 1944.
Usually when asked to be the executor of a family member’s estate, the person feels honored and trusted. It’s a big responsibility, since the executor will be carrying out a person’s final wishes.
When an estate is named beneficiary of an IRA, what is the method of distributing it to one individual in the most tax-effective way?
Some states are great to live in, but not so great to die in.
Many people are taking this time at home during the COVID-19 crisis to update their estate plan. Here are six critical estate plan components you should focus on in light of the current pandemic.
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