Estates, Trusts and Elder Law

Tax Planning

* Helping to preserve wealth by minimizing tax and related costs
* Establishing trusts to utilize life insurance as a tax savings mechanism
* Establishing family limited partnerships for business succession planning
* Establishing qualified personal residence trust to preserve assets and reduce estate taxes
* Establishing charitable trusts to assist families with their charitable giving
* Preparing buy-sell agreements among members and non-family shareholders
* Establishing, funding and administration of sophisticated trusts

Guardianship

* Provide assistance to disadvantage individuals by serving as guardian
* Serve as counsel to disadvantage individuals in guardianship proceedings

Other Services

* Services are tailored to meet individual needs
* Business succession planning
* Establishment of special needs trusts for disabled individuals and serve as trustee when necessary
* General Counsel to non-profit organizations for advice on tax-exempt organizations and planned giving
* Many of the Group’s attorneys publish articles and speak on estate planning topics at local and national levels

Estate/Trust Administration

* Assist families with administering decedent’s Estates
* Dispute resolution in wills and trusts

Tax Alerts

Maryland

* In 2006 the legislature continued to provide for reductions in the estate tax by implementing a maximum16% estate tax.
* In addition, the legislature also provided for a new Maryland only Q-TIP which will further reduce estate taxes for surviving spouses. The Maryland Q-TIP can be elected even if the taxpayer makes a different tax election on the federal estate tax returns.

Virginia

* The legislature has repealed its state estate tax for decedents dying after July 1, 2007