Archive: Client Alert

We expect contrasting changes to federal and state estate and gift tax laws in 2025. With a new year and a Republican sweep of Congress and the White House, we expect the federal estate tax exemptions will stay the same or increase. But given the economic and political landscapes closer to home, we are preparing...

Last month, my wife and I signed our own trust. Just like nearly all of my clients who create trusts, my wife and retitled our home into our trust. In retitling our home into our trust, we signed a deed conveying title to the property from our names to the trust’s name. This deed was...

We recently updated you on the evolution of Maryland law to expedite the finalization of divorces, including the gradual removal of the requirement for a one-year separation. And now the District of Columbia has decided to follow suit. Specifically, the D.C. Council has passed a law eliminating the separation requirement. Congress is expected to approve...

With a new year comes updated exemptions for estate tax exclusion and gift tax for 2024. What is the “estate tax exemption” and where is it going in 2024? The estate tax exemption refers to the value (or sum) of non-charitable bequests that can pass tax-free to someone other than your spouse upon your death,...

There is a significant piece of new law on the books effective January 1, 2024 that will impact all business owners, including many Bulman Dunie estate planning clients. Anecdotally, from talking to our clients who will be impacted by this change, most are not aware of this new law. The Corporate Transparency Act (the “CTA”) will...

It is often difficult for divorcing couples to decide how to divide their shared pets. In both Maryland and the District of Columbia, pets are viewed under the law as “property” – just another asset to be divided along with the wedding silver. Unlike other property, the value of a pet can be difficult, if not...

October 1 is when the majority of laws enacted by the Maryland legislature in the preceding session take effect. This year, a new law takes effect October 1 in an attempt to reduce serious personal injuries from automobile accidents. Previously, Maryland drivers only had to move over for stopped emergency vehicles and tow trucks who...