Estate taxes affect many American families. While only about 15,000 Federal estate tax returns were filed in 2010, many other families face the potential for having to pay estate taxes. This is true for two reasons. First, many states impose…
The certainty that the only certainties in life are death and taxes has existed almost since time immemorial. These certainties are a fundamental part of life and a person should not shy away from these tough issues simply because they…
When a parent, spouse, or friend might need more care that he or she can receive at home, it can be difficult to find guidance from someone knowledgeable, patient, and responsive. Fortunately, there are professionals whose job it is to…
The State of Maryland imposes a tax on property that passes at or after the death of an individual through an estate tax and an inheritance tax. The estate tax does not apply to estates that are valued at less…
Many people are aware of the estate tax -- the tax that is levied on the assets owned by someone when they die. And many people are aware that the estate tax is levied on all sorts of assets, including…
Laws governing the proper preparation of a Will are historically governed by caution and conservatism. The reason for this is obvious: The system that we have for the conveyance of property after death is of central importance to an orderly…
A client recently told me that the accountant who had been appointed executor of her mother's estate had advised her that her mother's entire estate would be taxed, including the value of farmland located in the mid-West. Knowing that Maryland…
The phrase “Independent Trustee” is often used in estate planning when creating trusts. Estate planning lawyers frequently insist that a trust name a trustee, in addition to someone who will be a beneficiary, but also someone who is “independent.” If…
One of the most significant decisions to be made during any estate planning process, and one which all too often receives inadequate attention, is the decision as to who is to be appointed to carry out the plan which is…
In September 2011, the Centers for Medicare and Medicaid Services issued a Memorandum directing medical providers that receive Medicare and Medicaid dollars to honor patients' Advance Directives on Healthcare. This memorandum is entirely unnecessary as to a large segment of…