"Spousal Elective Share Update" by Attorney Jon Gasior (Audio) A few weeks ago, we talked about the Maryland Estates and Trust code and the proposed changes to the spousal elective share. For years, Maryland legislators have been proposing to change how the spousal elective share works. The general idea of the elective share is that a surviving spouse can make a claim against a deceased … [Read more...] about Spousal Elective Share Update
"Clarity is Key to Planning" by Attorney Jon J. Gasior (Audio) When problems arise in an estate plan, often the source is a lack of clarity. Tom Petty died in 2017 and left a fortune estimated by Newsweek to be around $38 million. Petty did some things right, but he could have done better. What did Tom Petty do right? First, he planned. Most people just let nature take its course and fail … [Read more...] about Clarity is Key to Planning
"What is the Augmented Estate?" by Attorney Jon J. Gasior Over the last several years, the Maryland General Assembly has considered bills that are often called “augmented estate” bills. The question becomes, how will these impact Marylanders, if at all? In order to understand the augmented estate, one must first understand the spousal election. In Maryland a surviving spouse can make an … [Read more...] about What is the Augmented Estate?
"Can I Contest My Father’s Will?" by Attorney Jon J. Gasior (Audio) No matter how old you are, the loss of a parent is never easy to accept. If you recently lost your father, you are undoubtedly going through a period of grief and heightened emotions. At the same time, there are practical and legal issues relating to your father’s death that must also be addressed. At the top of that list is … [Read more...] about Can I Contest My Father’s Will?
One of the most frequent questions received during seminars and consultations is, "How should I title my Maryland motor vehicle?" There are different options for you to consider. If the vehicle is titled in your name alone, then upon your death, the vehicle must go through the probate process for your executor to either sell or retitle your vehicle. We often suggest avoiding the probate … [Read more...] about Estate Planning for Maryland Motor Vehicles
Medicaid’s Spousal Impoverishment Rules by Attorney Jon J. Gasior (Audio) Almost half of all seniors currently in long-term care rely on Medicaid to help cover the cost of that care. If you, or your spouse, are facing the need for long-term care (LTC) in the near future, you may also find yourself turning to Medicaid to help. The Medicaid eligibility guidelines and application procedures, … [Read more...] about Medicaid’s Spousal Impoverishment Rules
Top Ways to Avoid Probate by Attorney Jon J. Gasior (Audio) A comprehensive estate plan should accomplish much more than just creating a road map for the distribution of your estate assets after you have passed away. In fact, a well thought out estate plan often includes numerous inter-related goals and objectives. Among the most common of those additional goals is probate avoidance. If … [Read more...] about Top Ways to Avoid Probate
"Top 5 Estate Planning Goals" by Attorney Jon J. Gasior (Audio) When you think about creating an initial estate plan, you likely focus entirely on the need to create a roadmap for the distribution of your estate assets in the event of your death. While that certainly will always remain an important estate planning goal. You will undoubtedly include additional goals into your estate plan over … [Read more...] about Top 5 Estate Planning Goals
"When should my children accompany me to my estate planning meetings?" By Attorney Jon J. Gasior When setting up an estate plan, one thing that many families struggle with is, should I bring my children to my estate planning meetings? Estate planning consultations can be difficult for many families. The discussion often revolves around death, disability, money, and control of assets. Because … [Read more...] about When should my children accompany me to my estate planning meetings?
"What Does Estate Planning Mean" by Attorney Jon J. Gasior Estate planning is a broad term that encompasses planning during lifetime and at death. It is first important to understand, what is an estate? Broadly speaking, your estate is everything you own during lifetime and at death. This means: Real estate Retirement accounts (IRAS, 401ks, TSP, 403b, etc) Annuities Cash … [Read more...] about What Does Estate Planning Mean?