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Don’t Yet Want Your Heirs to Know About Your Assets? Use a Quiet Trust in Your Estate Plan

Trusts are great tools for leaving assets to your heirs while maintaining control over their access to those assets. In many cases, you would tell your beneficiaries that you have made a trust for them. However, this is not always desirable — and this is where a “quiet” trust may be helpful. A quiet trust is …

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August Is ABLE to Save Month!

August is ABLE to Save Month and ABLE programs across the country are celebrating more than 119,000 ABLE account holders nationwide. Check out this video to hear from a Maryland ABLE account holder who is proud to be saving for her dreams during ABLE to Save Month. ABLE programs nationwide have changed the way people …

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The New Maryland Supported Decision Making Law Explained The 2022 Miracle in Annapolis – “It’s a Start”

By:  Stephen R. Elville – Managing Principal and Lead Attorney – Elville and Associates, P.C. This spring the Maryland General Assembly delivered a long-overdue victory to persons with disabilities across Maryland, one that will forever change countless thousands of lives.  Not unlike Rich Strike’s astounding 80-1 odds come from behind heart-stopping victory in the Kentucky …

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Dynasty Trusts – A Tax-Efficient Way to Pass Down Wealth Through the Generations

If you want to pass money to future generations without having it subject to gift and estate taxes, then a dynasty trust may be right for you. A dynasty trust allows trust assets to be used for the benefit of multiple generations while keeping the assets out of the grantor’s and the beneficiaries’ taxable estates. …

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Inheritance Tax

By: Shannon K. Mumaw – Associate Attorney Just as there are taxes owed during life, there are taxes owed upon death. One such tax imposed after death is inheritance tax. Inheritance tax is imposed on any property passing from a decedent to a beneficiary, except for property passing to those beneficiaries who are statutorily exempt …

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