“Thought for the Day” #1333 – by Stephen R. Elville, J.D., LL.M.

February 19, 2020

Knowing what you want means you’ll generally get it. The same is true in estate planning.  All good planning is goal driven.  Clear client goals are translated and manifested into reality through a partnership relationship with the estate planning attorney whose job it is, in coordination with the client, to make the planning actually work …

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“Thought for the Day” #1332 – by Stephen R. Elville, J.D., LL.M.

February 18, 2020

Incoming!! The SECURE Act became law on January 1, 2020 and will affect most estate plans. All estate plans should be reviewed as soon as possible to address the estate planning and tax planning ramifications of the Act. Are you taking the time to think about this issue? Stephen R. Elville is the principal and …

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“Thought for the Day” #1331 – by Stephen R. Elville, J.D., LL.M.

February 14, 2020

This Valentine’s Day the IRS continues to give a gift.  What is it you ask?  Well, consider the colossal $11.58 million federal estate tax exemption, otherwise known as the basic exclusion amount or “BEA” (over $23 million for married couples who make the Portability election).  Why is this such a big deal?  Because it eliminates …

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“Thought for the Day” #1329 – by Stephen R. Elville, J.D., LL.M.

January 27, 2020

Elville and Associates’ principal and lead attorney Stephen R. Elville’s “Thought for the Day” for Monday, January 27th – “Nothing is more frustrating for a trust beneficiary with disabilities than having money tied up in a special needs trust and not being able to access the funds on demand. Of course, there is an important reason …

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“Thought for the Day” #1328 – by Stephen R. Elville, J.D., LL.M.

January 21, 2020

Elville and Associates, P.C.‘s principal and lead attorney Stephen R. Elville‘s “Thought for the Day” for Tuesday, January 21st — “Although Maryland’s filial responsibility law has generally (historically) not been enforced, liability-type situations can occur when dealing with aging parents or other loved ones. Sometimes this may involve an automobile and an aging loved one who …

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“Thought for the Day” #1327 – by Stephen R. Elville, J.D., LL.M.

January 14, 2020

Estate and elder law planning can be time-sensitive. Experience shows that there are several life events that trigger the need or desire to do planning. One of those events is health. The problem with this event is that by the time it arises and the need for planning is recognized, precious time may have been …

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“Thought for the Day” #1326 – by Stephen R. Elville, J.D., LL.M.

January 10, 2020

Elville and Associates’ principal and lead attorney Stephen R. Elville’s “Thought for the Day” for Friday, January 10th — “Aside from the fact that a trustee or guardian has a duty to the beneficiary to account for his or her money, accounting also protects the trustee or guardian. Once an account becomes final due to …

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“Thought for the Day” #1325 – by Stephen R. Elville, J.D., LL.M.

January 3, 2020

Many older adults are focused on (and sometimes obsessed with) creating joint accounts or owning real property jointly with children or other family members in their later years. Caution is advised here! Although there are many reasons why the joint ownership of property with children or other non-spouses may not be advisable, failure to understand …

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“Thought for the Day” #1324 – by Stephen R. Elville, J.D., LL.M.

December 18, 2019

In estate planning, there is only one thing that ultimately matters – regardless of whether a person has a will, a will substitute (revocable living trust), or no estate planning documents at all – and that question is this:  how were the assets titled at the time of death?  #elvilleeducation