New law avoids Inheritance Tax for Domestic Partners.

New law avoids Inheritance Tax for Domestic Partners.

On October 1, 2023, a new Maryland law went into effect regulating how couples may register as Domestic Partners and the information required in a Domestic Partnership Agreement. Senate Bill 792 (SB 792) extends significant protections and benefits to qualifying...
BUYER BEWARE! Pitfalls of Creating Legal Documents Online

BUYER BEWARE! Pitfalls of Creating Legal Documents Online

We understand, and share, your desire to be cost-effective. So, when you see websites that prepare Wills at a fraction of the cost of an attorney, we get the temptation. However, this is not an area where you want to be tightfisted.ย  ย Using online services for your...
Should I include Pets in my Estate Plans?

Should I include Pets in my Estate Plans?

Nearly 70% of U.S. households own pets. While you may consider your pet to be a living, breathing member of your family, the reality is that the law considers your furry friends as your property. Because your pets are considered property, you cannot legally leave...
Revocable Trusts: Not Just for the Wealthy

Revocable Trusts: Not Just for the Wealthy

“I am not rich โ€“ why would I need a Trust?โ€ A common misconception we often hear regarding Trusts is that Trusts are only needed by people who have substantial wealth. This could not be further from the truth. If you own a home, when you are gone, your home will...
๐Œ๐ฒ ๐Ÿ๐š๐ญ๐ก๐ž๐ซ ๐ซ๐ž๐œ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฉ๐š๐ฌ๐ฌ๐ž๐ ๐š๐ฐ๐š๐ฒ. ๐–๐ก๐š๐ญ ๐๐ž๐š๐ญ๐ก ๐ญ๐š๐ฑ๐ž๐ฌ ๐ฐ๐ข๐ฅ๐ฅ ๐ˆ ๐›๐ž ๐ซ๐ž๐ฌ๐ฉ๐จ๐ง๐ฌ๐ข๐›๐ฅ๐ž ๐Ÿ๐จ๐ซ?

๐Œ๐ฒ ๐Ÿ๐š๐ญ๐ก๐ž๐ซ ๐ซ๐ž๐œ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฉ๐š๐ฌ๐ฌ๐ž๐ ๐š๐ฐ๐š๐ฒ. ๐–๐ก๐š๐ญ ๐๐ž๐š๐ญ๐ก ๐ญ๐š๐ฑ๐ž๐ฌ ๐ฐ๐ข๐ฅ๐ฅ ๐ˆ ๐›๐ž ๐ซ๐ž๐ฌ๐ฉ๐จ๐ง๐ฌ๐ข๐›๐ฅ๐ž ๐Ÿ๐จ๐ซ?

There are five sets of death taxes that are relevant for Maryland residents: First, there is Final Personal Income Tax (Federal and Maryland), which refer to the income taxes that the deceased person would have had to pay in the year they died. This is something that...
๐‚๐š๐ฌ๐ž ๐’๐ญ๐ฎ๐๐ฒ: ๐‹๐ž๐š๐ฏ๐ข๐ง๐  ๐˜๐จ๐ฎ๐ซ ๐‡๐จ๐ฆ๐ž ๐ญ๐จ ๐˜๐จ๐ฎ๐ซ ๐’๐จ๐ง

๐‚๐š๐ฌ๐ž ๐’๐ญ๐ฎ๐๐ฒ: ๐‹๐ž๐š๐ฏ๐ข๐ง๐  ๐˜๐จ๐ฎ๐ซ ๐‡๐จ๐ฆ๐ž ๐ญ๐จ ๐˜๐จ๐ฎ๐ซ ๐’๐จ๐ง

Picture the following: you and your spouse decided that you would like to leave your home to your son. Your neighbor suggested the best way to do so was to add your son to the deed, so the child will be on the title when you pass away. You have the home retitled. ย ...