Category: Estates and Trusts
Imagine receiving a call that your parent has been raced to the hospital. In addition to the fear regarding their condition, you know that you are designated as your parent’s Agent under their power of attorney. For the foreseeable future, you may be in charge…
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…
Previous articles in our e-newsletter have discussed incapacity planning through powers of attorney as a critical component of estate planning. However, there are a few reasons why it is especially important for people in their 20s and 30s to plan for the possibility of incapacity through powers of…
The most common reason why young families reach out to Bulman Dunie for estate planning is because they want to ensure that their children are protected should anything happen to them. An estate plan offers several mechanisms to protect and care for your children should…
At Bulman Dunie, we regularly assist clients, review their planning documents, and implement changes to their documents. Clients understandably want to limit the costs of these changes. And we share that objective! But there are times when an entirely new instrument, as opposed to a…
In a Nevada court, a drama is playing out over – of all things – an irrevocable trust. But this isn’t any irrevocable trust. It is the family trust established by Rupert Murdoch to control his media empire, including Fox News. The Background The proceedings…
Every day, the estate and trust team at Bulman Dunie assist clients who serve as “Personal Representatives” (a/k/a “Executors”) of an estate in navigating the probate process. Probate can be complicated, but there are some easy steps that can be taken from Day 1 to…
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…
Maryland is one of the few states that charges “inheritance tax”. We’ll start with the good news before you read on—fortunately, most conveyances of property are exempt from inheritance tax. However, it is important to be aware of inheritance tax as you consider bequests from…
Many clients come to an estate planning consultation with a belief that a Last Will and Testament is the tool that disposes of their assets after they have passed away. Assets that transfer to your heirs via a Will must go through the court-supervised process…
