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Whether a couple is married, in distinction from merely living together, provides certain benefits under the law of estates and trusts. For state and federal estate taxes, for example, assets passing to one’s spouse are exempt from tax. Subject to important exceptions, the various states define what constitutes a “valid” marriage. Thus, the Supreme Court […]

Storm Clouds For Certain Business Succession Planning A 2021 Maryland Court of Special Appeals decision questioned whether a common provision in an LLC operating agreement is enforceable or whether such a provision must conform to the Statute of Wills.  The decision has important implications for the owners of small, closely held businesses and their advisors. […]

Death taxes, and political arguments over such taxes, rival death itself as one of life’s certainties. In 21st Century America, of course, the federal estate tax is a perennial political hot potato in most national elections, and post-election, remains so. We are amidst intense political turmoil, in general, with the debate on federal estate tax […]

Unlike other forms of providing for the financial management of the assets of someone with diminished capacity, a guardian’s freedom to act is strictly monitored by the Maryland court. Other disability planning techniques, such as trusts or powers of attorney, are created by the person while competent to act and can be designed as largely […]

A recent reported Court of Special Appeals case clarified how the statutory 6-month claim period works for Medicaid reimbursements from the deceased recipient’s estate. Maryland Department of Health v. Myers, Court of Special Appeals, No. 3168, September Term 2018, 2020 WL 7395536 (December 17, 2020). The statutory interpretation should inform decisions by any personal representative […]

While going through the COVID-19 pandemic, many states that did not previously allow remote notarizations have taken emergency executive action to enable notaries to perform notarial acts remotely using audio visual technology. While these orders have provided a solution to attorneys looking for safe ways to continue their practices, they have not been without drawbacks. […]

Appointing a guardian for a disable person requires a court proceeding. Often, when a guardian is needed for a family member, there is general agreement who should become the guardian. To have that person appointed guardian, however, a court proceeding is still required. Often if a family is acting in the best interest of the […]

This article is being written against the backdrop of the COVID-19 pandemic. As with society in general, the legal community has scrambled to keep firm clients, lawyers, paralegals, staff and their families safe while shifting to alternative work arrangements. Social distancing practices make things that were relatively easy to accomplish before the epidemic much more […]

Maryland Estate Planning During Coronavirus Epidemic: Emergency Order by Governor Hogan Permitting Remote Notarization Estate planning during the coronavirus epidemic is made a bit easier because of an emergency Order that permits remote notarization of documents in Maryland. Before this executive Order, documents could not be notarized without clients physically appearing before a notary with […]

E-Wills –Coming Anytime Soon in Maryland? By Fred Franke, Jr. Franke Beckett LLC Maryland, like most states, does not permit remotely witnessed Wills. Instead, the witnesses must be in the physical presence of the testator. Nor does Maryland permit “E Wills” – Wills executed in electronic form. Operating in the environment of the coronavirus pandemic […]

As of January 1, 2020, the latest federal income tax law change, the “SECURE Act,” changed how inherited IRAs are handled. Before the SECURE Act, a designated beneficiary of an IRA after the owner’s death generally could stretch the distributions out over that designated beneficiary’s life expectancy.  Now, an inherited IRA must be emptied 10 […]

The SECURE Act was signed into law on December 20, 2019. It significantly modified many requirements for employer-provided retirement plans, individual retirement accounts (IRAs) and other tax favored savings accounts. Key Provisions Affecting Individuals Repeal of Maximum Age for Traditional IRA Contributions Before 2020, traditional IRA contributions were not permitted once an individual reached age […]