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What is a Revocable Trust?

By: Nicole T. Livingston – Principal and Senior Estate Planning Attorney, Elville and Associates, P.C. January 8th — At the first meeting with a prospective client, I begin by asking them to tell me about their family and their assets, because that is what estate planning is all about.  We need to discuss what their …

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Do I Have an Estate?

By: Nicole T. Livingston – Principal and Senior Estate Planning Attorney – Elville and Associates, P.C. January 8th — Often when I talk to potential clients, they tell me that they do not have an estate because it sounds as if only people who are wealthy have an estate.   However, that is not true. …

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Elville and Associates’ Stephen R. Elville and Meghan E. McCulloch Named to 2021 Maryland Super Lawyers List and Rising Stars Lists, Respectively

Elville and Associates’ Stephen R. Elville and Meghan E. McCulloch Named to 2021 Maryland Super Lawyers List and Rising Stars Lists, Respectively Authored by:  Jeffrey D. Stauffer – Community Relations Director Stephen R. Elville, Managing Principal and lead attorney of Elville and Associates, P.C., has been selected to the 2021 Maryland Super Lawyers list. Each …

Elville and Associates’ Stephen R. Elville and Meghan E. McCulloch Named to 2021 Maryland Super Lawyers List and Rising Stars Lists, Respectively Read More »

What Is Critical Illness Insurance and Is It Worth Buying?

You should consider your options before paying for a critical illness insurance plan.  While a regular health insurance plan usually offers comprehensive coverage for all types of illnesses, many plans have high deductibles and copays that require policyholders to pay a lot of money out of pocket. Critical illness insurance allows you to buy insurance …

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A Trust Protector Can Look Out for a Beneficiary’s Interests

One of the most important decisions a special needs trust’s donor (the person who supplies the funds for the trust) makes is the choice of a trustee for the trust. A trustee typically manages the day-to-day operations of the trust, often making distributions to the trust’s beneficiary, investing the trust’s assets, and paying the trust’s …

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Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing

As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year. Since the increase in the standard income tax deduction in 2018, only 11 percent of taxpayers itemize deductions, so …

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Social Security Disability Benefits to Rise by Only 1.3 Percent in 2021

Social Security disability recipients will see an increase in benefit levels for 2021, although the rise will be the smallest in years due to the economic downturn caused by the COVID-19 pandemic.   On October 13, the Social Security Administration (SSA) announced that Social Security benefit levels will increase by just 1.3 percent in 2021, compared with 1.6 percent in 2020 and 2.8 …

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Do-it-Yourself Estate Plans: Hazards to Avoid

Do-it-yourself estate plans, wills, and other legal documents are available across the Internet.  Such products are tempting and seemingly convenient, but using them could create serious and expensive legal problems for your heirs. Online do-it-yourself estate plans may appear to offer a cost-effective and easy alternative to visiting a qualified estate planning attorney or elder law …

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