Among our primary practice areas is a broad spectrum of estate and trust services encompassing estate planning, asset protection planning, income tax planning, special needs planning, estate and trust administration, related litigation, case evaluation, and mediation.

Estate and Asset Protection Planning

In this changing world of increasing federal and Maryland estate tax exemptions, we draft our documents to preserve as much as possible the ability to adapt to changing circumstances and/or dispositive schemes, even to include post-death changes where appropriate. Asset protection is an important part of the planning reflected in our documents. Nonetheless, we remain mindful and watchful that estate tax planning may return to prominence as the political winds of tax policy change; and we draft our documents accordingly.

Income Tax Planning

Another consideration is planning for the post-death transfer of unused retirement benefits (such as IRA and 401(k) accounts) in a manner to minimize the income tax impact to the recipient. In some cases, the unintended but unfortunate consequences of bankruptcy can be anticipated. Our planning also considers the opportunities to optimize the tax basis in inherited assets in an effort to minimize the income tax cost upon the eventual sale of those assets.

Special Needs Planning

Some of our clients have children (or sometimes parents) who have special needs that will require attention after the care-givers die. We are often called upon to draft third party trusts to address these needs without the forfeiture of public benefits.