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Estate
Planning
In
estate planning matters, we strive to be good listeners and to look
at the whole picture in developing a customized strategy to meet
our client’s goals for asset preservation, charitable intentions
and addressing the special needs and circumstances of loved ones.
The
process begins by asking the client to complete a comprehensive
questionnaire. We review the answers and their existing wills, deeds,
insurance and trust documents and then propose a comprehensive plan
of action, with projected results/savings, along with a proposed
fixed fee to execute plan.
The
plans could include implementation of one or more of the following:
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-Retitling
and redistribution of assets between spouses
-Transfer of life insurance policies into Irrevocable Life
Insurance Trust (ILIT)
-Establishment of charitable remainder or charitable lead
trusts
-Drafting of new Wills, to include credit shelter trust or
special needs trust provisions
-Creation of Revocable trusts, and retitling of assets into
same, to avoid the headaches and costs of probate
-Establishment of a Qualified Personal Residence Trust (QPRT)
-Preparation of Family Limited Partnerships (FLP) to take
advantage of minority interest discounts for gift tax purposes |
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also regularly administer estates ranging from very small to
those in the multimillion dollar range with the Register of
Wills offices and Orphans’ Courts in all Maryland counties,
and prepare complex Federal Estate Tax, fiduciary and Gift Tax
returns. |
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Useful
Information and Worksheet:
Estate
Planning Questionaire
What
are Revocable Trusts?
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