Two-thirds of all American homes are owner-occupied. But few of those owners own the home outright. On average, Americans owe at least half of the value of the home --- a number which increases as the cost of living rises…
A Grantor Retained Annuity Trust (usually referred to as a “GRAT”) is a trust agreement in which a donor (usually referred to as the “Grantor” or the “Settlor”) transfers assets to a trust. In exchange, the trust must make annual…
In April 2009, Maryland Governor Martin O’Malley signed into law a bill which authorizes statutory pet trusts, joining D.C. and Virginia, which had both had such a law for several years. A statutory pet trust creates an easy and inexpensive…
Estates in Maryland and D.C., and many other states, face estate taxes levied by the state when the net amount of the estate, excluding spousal transfers and charitable gifts, exceeds $1,000,000. The value of the estate includes the proceeds of…
The estate tax is levied on all estates that exceed a certain value. In 2009, estates that were valued at $3.5 million were subject to the Federal estate tax. For people who die in 2011 or 2012, estates that are…
A dynasty trust is a trust designed to hold assets for many generations. Most other trusts are designed so that the trust assets will be distributed to the beneficiaries at staggered ages (e.g., one-third at age 25, one-half of the…
What to do when an employee tell you s/he is disabled and asks for an accommodation? That depends on a number of factors. First, how many people do you employ? If your company employs more than 15 people, it is…
When visiting our offices, you may see an old engraving of David after he slayed Goliath. The David and Goliath story is a well-known inspirational story, reminding us that hard work, determination, and skill can let one who brings less…
Before 2008, a woman who breastfeed her baby in public could be asked to go away. While most women have found that they could breastfeed their baby wherever they may be without harassment, sometimes women are not so well treated.…
July 2015. Lippman, Semsker & Salb achieves success in an appeal before the United States Court of Appeals for the District of Columbia Circuit in the case of Radtke v. Caschetta. The case arose when Caschetta failed to pay overtime…