While many varieties of estate planning are available, at Elville & Associates we do not practice the traditional 2-3 meeting planning process. Our approach is more comprehensive and long term. We need to:

• really get to know our clients to address their concerns
• thoroughly review all choices and planning options with the client
• understand the family’s individual dynamics
• develop initial estate planning drafts
• review the drafts with the client
• use feedback to make adjustments
• review the revised documents at least two times with the clie
• prepare, present and have clients sign the final documents and power of attorney
• understand and meet with clients to sign funding documents
• meet with the client’s family for a post-signing family meeting

Well developed, funded estate planning comprises 3 phases:

• Plan development and execution
• Continuing education, maintenance and updating throughout the lifetime
• Administration at death

Without this depth of process, the planning is one-dimensional, costly and often unsuccessful.

For more information, please call 443-393-7696 or complete the form below.

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Begin with a clear understanding. First, a gift is property irrevocably given or transferred without restrictions. The gift tax is a tax imposed on the transfer of gifted property during your lifetime, the value of which property exceeds the gift tax exemption.

The federal gift tax exemption for 2012 is $5,120,000. Thus, you may gift up to $5,120,000 of property during your lifetime without any gift tax due. However, that exemption amount is unified with the Federal estate tax exemption. Thus, if you gift $2,000,000 during your lifetime and you die in 2012, then you will have no gift tax due, but you will in essence have reduced your estate tax exemption to $3,120,000 (plus $13,000 per donee – to account for the annual exclusion from gift tax discussed below). In Maryland and the District of Columbia, as well as most other states, there is no state gift tax.

For more information, please call 443-393-7696 or complete the form below.

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By: Bridgette E. Becker,Esq.- bridgette@elvilleassociates.com, 443-393-7696

Did you know you can provide for your pets after you have passed away? Approximately 60% of households in the United States currently own at least one pet. Although many people may make informal agreements with family members or friends to care for their pets if they become incapacitated or pass away, we can now set up pet-specific trusts to care for them when you are no longer able to care for them yourself.

Estate planning attorneys draft Pet Trusts to ensure that your pets can be cared for pursuant to your wishes. Pet Trusts can be very extensive and may include provisions setting forth appointment of caretakers as well as guidelines for caretakers and care of your pets. These guidelines could include provisions addressing adoption or re-homing of pets, veterinary care, diet, or address any other wishes or concerns you may have regarding your pets when you are no longer able to care for them. Pet Trusts may be funded during your lifetime or at your death, depending on your preference. Finally, do not worry if you are unsure of how many pets you may have in the future when you may need a Pet Trust, these trusts can easily be drafted to include any pets you may have at the time of administration of the Pet Trust.

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The primary benefit in forming a corporation is the liability protection offered to the owners of the corporation. This liability protection is provided through the laws in place in the State of Maryland. In order to ensure that liability protection is fully enforceable to the extent permitted under law, it is important for corporations to comply with the requirements of corporations established under those laws. Some of these formalities include keeping minutes, having written Bylaws, and holding annual meetings of shareholders and/or directors. Failure to comply with the formalities associated with corporate ownership and operation creates a risk of loss of liability protection.

For more information, please call 443-393-7696 or complete the form below.

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By: Matthew F. Penater, Esq.-

matt@elvilleassociates.com,

443-393-7696

Creating a corporation or other limited liability entity is the first step to protecting your personal assets from claims of business creditors. However, failure to adhere to the requirements of the corporate code could reduce that corporate protection. Holding annual meetings, maintaining corporate records, and properly documenting ownership are examples of ways in which you can shore up the liability protection.

For more information, please call 443-393-7696 or complete the form below.

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Stephen R. Elville, Principal of Elville & Associates, has been named to the Charitable Gift Planning Advisory Committee for Anne Arundel Medical Center (CGPAC). Among the initiatives of the AAMC Foundation are support of the new Patient Tower and the Capital Fund strategy for the center. Mr. Elville provides legal guidance for the Foundation, specifically regarding estate planning and elder law as they relate to planned giving.

For more information, please call 443-393-7696 or complete the form below.

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During the week of January 13–17, 2014, in Orlando, Florida, Stephen R. Elville, J.D., LL.M., attended the nation’s leading conference for estate attorneys at the Heckerling Institute on Estate Planning. Attendance at the conference is an invaluable experience, as it offers the very best networking and professional development opportunities for estate planning professionals.

This year’s program focused on both planning strategies and practice development in the new wealth transfer tax environment. Key topics that are core focuses of the firm such as elder law, asset protection, income tax planning and traditional core estate planning were also explored in-depth.

Mr. Elville’s attendance at premier conferences such as the Heckerling Institute blend with Elville & Associates’ mission of providing practical solutions for our clients’ needs through counseling, education and superior legal technical knowledge—offered with a warm, friendly approach in a caring environment.

For more information, please call 443-393-7696 or complete the form below.

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On January 29^th, 2014, at the Baltimore office of Saul Ewing, Stephen R. Elville, J.D., LL.M., teamed with The Bar Association of Baltimore City, the Pro Bono Resource Center, Senior Legal Services and other experts in the field to offer training to 60 lawyers on simple estate planning for low-income seniors.

Mr. Elville’s one-hour presentation focused on drafting financial statutory powers of attorney. Among the other topics of discussion during the day-long training were drafting simple wills and advanced medical directives, assessing client competency and ethical considerations.

For more information, please call 443-393-7696 or complete the form below.

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Contact: Jeffrey Stauffer, Community Relations Director

Columbia, MD – The attorneys and staff of Elville and Associates are proud to announce the launch of the firm’s new charitable organization – The Elville Center For The Creative Arts. The new Elville Center will be a 501(c)(iii) non-profit corporation that will partner with local and regional businesses such as Music and Arts, schools, and other non-profit organizations to provide music instruments, music instrument rental, music lessons, and participation in music-related activities to and for children of all ages throughout Maryland and the mid-Atlantic region. The purpose of the Elville Center will be to improve the quality of life of children of all ages by providing them the opportunity to learn music theory and application, and experience cultural events related to the musical and creative arts; and to use music and the promotion of music-related activities to transcend social and economic divisions.

For more information, please call 443-393-7696 or complete the form below.

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MATTHEW F. PENATER, ATTORNEY, has joined the firm as a partner,representing clients in all aspects of estate planning,probate/estate administration, and trust creation/administration. he regularly addresses the needs of clients who require tax planning, asset protection and require business succession planning. Matthew is particularly focused on physician and dental practice representation, addressing the personal and business needs specific to those professions. notably, he was selected to the 2014 rising stars list of Super Lawyers magazine.

atthew will be heading up a new office of the firm on or around October 1, 2014, to be located in the historical “Rotunda” building, bordering the neighborhoods of Hampden and Roland park in Baltimore City.

For more information, please call 443-393-7696 or complete the form below.

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