estate planning

The Biden Administration’s Effect on Estates, Trusts, and Tax Planning

Talking about politics can sometimes be risky business.  However, as is often said, elections have consequences and in the context of estate planning it is important to examine the Biden Administration’s effect on estates, trusts, and tax planning.  After the outcome of the recent Senate run-off election in Georgia, we now know that we have …

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Integrating Your Business and Estate Plans with Chuck Borek

When you’re a business owner, estate planning must be integrated with a succession plan. Succession planning is about laying the groundwork for a smooth transition of business ownership to family members, employees, or buyers. Every transaction has tax consequences, and the tax cost of a business transfer can vary widely depending on how it is …

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Guardianship

Estate Planning with Elderly Parents – 8 Tips for Having “The Talk”

Talking about estate planning with elderly parents can be a difficult, emotional topic, but it’s essential for every family. Unless you’re certain your parents have an up-to-date will and a wider plan for what should happen in the event of their passing, don’t assume everything will be taken care of. According to a 2017 survey, …

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Free Estate Planning Consultations with Elville and Associates – Plan for Your Legacy

By:  Stephen R. Elville, J.D., LL.M. – President and Principal Attorney of Elville and Associates, P.C. Estate planning consultations are free at Elville and Associates.  Reviews of existing wills, trusts, powers of attorney, and advance medical directives are also free.  Considering that most people either do not have an estate plan or do not update …

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Estate Planning – “What Good Is Education Without Organization?”

By: Stephen R. Elville, J.D, LL.M., Principal and Lead Attorney – Elville and Associates, P.C. OK, it’s time to “get real” as we used to say in the seventies. A wonderful financial advisor friend of mine, a Certified Financial Planner actually, once said to me over dinner, “Steve, you do a stellar job of educating …

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The Imperative Need to Update Your Estate Planning to Reflect Your Goals – with an Educational Component

By:  Stephen R. Elville – Principal and Lead Attorney of Elville and Associates, P.C.   In yesterday’s Time to Think blog, we talked about providing for the possibility of a trust protector, a special fiduciary that adds dimension and flexibility to an estate plan.  This brings to mind the issue of also providing for the …

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Digital Assets – An Essential Component to Estate Planning

By:  Nicole T. Livingston – Associate Attorney In 2016, the Maryland Fiduciary Access to Digital Assets Act became law.  This law allows your agent named in your power of attorney, a trustee named in your revocable living trust, or a personal representative named in your Last Will and Testament to obtain access to your digital …

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How to Provide for a Trust Protector in Your Estate Planning

By:  Stephen R. Elville – Principal and Lead Attorney of Elville and Associates, P.C. In yesterday‘s Time to Think blog, we discussed how the inclusion of a Trust Protector provision as part of your estate plan can provide scope, depth, flexibility, beneficiary protection, and more.  You can provide for a Trust Protector in your estate planning, elder …

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Trust Protectors – An Integral Piece to a Flexible Estate Plan

By:  Stephen R. Elville – Principal and Lead Attorney of Elville and Associates, P.C.   Trust protectors add dimension, scope, and depth to an estate plan, and the essential capability needed to deal with ongoing change in an uncertain world.  If your estate plan does not include a trust protector or the potential for the …

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