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MaKayla Hanington

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Does New Jersey’s Estate Arm Reach as Far North as Canada? – Annapolis Estate Planning

If someone dies in Canada, and her heirs live in New Jersey, are there any estate inheritance taxes owned? A recent article from nj.com’s asks for advice if “My sister died in Canada. Will I owe inheritances taxes to New Jersey?” Unless the sister owned property in New Jersey, any... Continue reading

Posted 2 days ago at Annapolis, Maryland Wills, Trusts & Estate Planning

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The Battle Against Elder Fraud Supported by Credit Union Organization – Annapolis Estate Planning

A national credit union association sent a letter for the record to the Senate Special Committee on Aging stating its support of efforts to protect seniors from financial exploitation. CUNA, the Credit Union National Association, wants to see more help for seniors, who are targeted victims of elder financial abuse... Continue reading

Posted 3 days ago at Annapolis, Maryland Wills, Trusts & Estate Planning

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Protecting the Kids By Leaving Them Nothing? – Annapolis Estate Planning

It’s not a concept that everyone agrees with: your kids will be ruined if you leave them a lot of money. However, for many celebrities, especially those who came from modest beginnings, this is the best way to ensure that their kids are not spoiled brats. Sometimes we learn about... Continue reading

Posted 4 days ago at Annapolis, Maryland Wills, Trusts & Estate Planning

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But I Don’t Live in an Estate–Why Do I Need an Estate Plan? – Annapolis Estate Planning

If estate planning had a different name, like planning for aging or planning for sickness and death, people might not think that an estate plan is only for wealthy people. However, the legal term “estate” means everything you own. A humble homeowner needs an estate plan as much as, or... Continue reading

Posted 5 days ago at Annapolis, Maryland Wills, Trusts & Estate Planning

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Paying for Special Needs Care Under the New Tax Laws – Annapolis Estate Planning

The cost of paying for special needs care depends on the type and intensity of each individual’s condition. Planning for care, including the use of Special Needs Trusts, can help families manage costs and plan for the future. The financial needs of a loved one with special needs can be... Continue reading

Posted 6 days ago at Annapolis, Maryland Wills, Trusts & Estate Planning

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Want to be in Charge of Your Own Funeral? - Annapolis Estate Planning

For people who like to plan and don’t trust anyone else to get the details right, estate planning and even funeral planning can provide peace of mind. If you watched the funeral of the former President George H. W. Bush, you may have noticed how smoothly everything went. Every detail... Continue reading

Posted Jan 18, 2019 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Millennials Need an Estate Plan Too - Annapolis Estate Planning

Live long enough, and you learn that life can change in a heartbeat. Young adults don’t always know this, but they need to have an estate plan as much as older people. Whether you are a Baby Boomer or a millennial, you need to have an estate plan. With the... Continue reading

Posted Jan 17, 2019 at Annapolis, Maryland Wills, Trusts & Estate Planning

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The Biggest Retirement Risks? The Ones You Don’t Know About - Annapolis Estate Planning

You know that health care, taxes and not saving enough for retirement can derail retirement. However, what about the risks you never saw coming? Consider these three risks to retirement says Wealth Advisor in the article, “The Three Risks To Prepare For In Retirement.” They are a little less obvious... Continue reading

Posted Jan 16, 2019 at Annapolis, Maryland Wills, Trusts & Estate Planning

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The Sooner You Complete Your Estate Plan, The Better - Annapolis Estate Planning

Among the top three reasons for an estate plan are to make sure that your assets are distributed according to your wishes, helping your loved ones from having to pay more taxes than necessary and if possible, avoiding having your estate go through probate. When there are minor children or... Continue reading

Posted Jan 15, 2019 at Annapolis, Maryland Wills, Trusts & Estate Planning

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What If I Don’t Want My Inheritance? - Annapolis Estate Planning

It sounds crazy, but there are many good reasons why someone would not want to receive an inheritance. Making sure that you are not forced to receive assets must be done very carefully, so you’ll need an estate planning attorney on your team. An estate waiver, also known as an... Continue reading

Posted Jan 14, 2019 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Can I Trade Options in My Roth IRA? – Annapolis Estate Planning

There are opportunities to trade options using Roth IRAs, but investors must follow many of the rules that apply to traditional IRAs. That includes restrictions on withdrawals and limitations on certain trading strategies and the types of securities that can be traded. From the time they were introduced, Roth IRAs... Continue reading

Posted Dec 7, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Funeral Instructions in Michigan Get an Assist from New Law – Annapolis Estate Planning

Now you can direct your funeral from the great beyond, if you live in the Wolverine State. Here’s a concept that is perfect for people who like to be in charge: about two years ago, Michigan enacted a law that lets you name a funeral representative, a person who is... Continue reading

Posted Dec 6, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Can Beneficiary Designations Help Simplify the Estate Planning Process? – Annapolis Estate Planning

Often overlooked, the beneficiary designation can help move assets directly to heirs without going through the probate process. Many accounts and financial products allow the owner or investor to designate a beneficiary, who will receive the asset directly when the owner passes away. This is something that most of us... Continue reading

Posted Dec 5, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Fitting a 529 Plan into Your Estate Plan – Annapolis Estate Planning

529 college savings plans are a great way to fund a college education and they can now also be used for other educational needs. However, they can also be part of your estate plan. Before exploring a new use for a 529 plan, let’s start with how it has been... Continue reading

Posted Dec 4, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Prenups for Tech Entrepreneurs – Annapolis Estate Planning

Maybe you made your first million in a crowdfunded start up, and now you’re working with venture capitalists on your next big idea. If marriage is on your event horizon, you may need a prenup. Not every tech-savvy entrepreneur makes millions, but many millennials are finding themselves in the right... Continue reading

Posted Dec 3, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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When a Sibling Executor Goes Rogue – Annapolis Estate Planning

It’s one thing to fight with a sibling over toys when you are young. However, as adults, and more to the point, as an executor, there’s no room for tantrums or not acting in the best interests of the beneficiaries. An executor who refuses to sell an inherited home, is... Continue reading

Posted Nov 9, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Countdown to Retirement with Three Simple Questions – Annapolis Estate Planning

To help plan for retirement, it helps to move from asking global questions, like “Can I afford to retire?” to more specific questions, like “What’s my monthly cost of living right now?” Sometimes retirement planning is so overwhelming that people just shrug their shoulders and hope that things work out.... Continue reading

Posted Nov 8, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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One Dozen Must-Have Documents – Annapolis Estate Planning

To make sure that your wishes are carried out, you’ll have to do your homework. Make sure that you cover these most important documents. The last thing you want to do, is leave a bureaucratic mess for your loved ones when you die. Not only will it cause the family... Continue reading

Posted Nov 7, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Sheryl Sandberg is “Leaning In” to the Giving Pledge – Annapolis Estate Planning

Sandberg is donating her entire stake in SurveyMonkey to charity, in the shape of shares or the proceeds of sales of those shares. The Facebook COO and SurveyMonkey board member has embraced the Giving Pledge. You don’t have to give away millions, or billions, to be philanthropic. In fact, if... Continue reading

Posted Nov 6, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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How Does Life Insurance Work in Estate Planning? – Annapolis Estate Planning

Life insurance can be useful in paying off debt, covering funeral costs and serving as a useful resource so that estate proceeds or any one person’s savings don’t have to be tapped. Life insurance may be the least sexy part of the transition from one farming generation to another, but... Continue reading

Posted Nov 5, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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If You Don’t Have a Will Yet, You Should Start Now – Annapolis Estate Planning

It’s understood that everyone needs a will. However, many people put it off. Don’t be one of those people. Your family will remember, and it won’t be a happy memory! Celebrities aren’t the only ones who fail to plan for their passing. The difference is, their failures can become instructive... Continue reading

Posted Oct 12, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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Nothing Saved for Retirement? At Least You’re Not Alone – Annapolis Estate Planning

The big picture presented by the National Institute on Retirement Security is not a good one. Working Americans are completely unprepared for retirement. The National Institute on Retirement Security is a non-profit research and educational organization that focuses on the development of public policies that help retirement security in America.... Continue reading

Posted Oct 11, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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How Much Life Insurance Do You Need? – Annapolis Estate Planning

Everyone’s needs are different. For most people, one large policy is enough. However, what if your life is not like everyone else’s? How do you know how much coverage you need? Most people never really think about adding more life insurance, once they buy a policy. They figure they have... Continue reading

Posted Oct 10, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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How Taking Social Security at 62 Makes Sense in Some Tax Brackets – Annapolis Estate Planning

If you’re living on your retirement savings, while waiting to start taking Social Security benefits to full retirement age or even age 70, you might be costing yourself thousands in taxes. It’s annoying. There’s no way around it. You’ve worked your whole life, and paid taxes on those earnings. Now... Continue reading

Posted Oct 9, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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What Happens in Your World After You Die? – Annapolis Estate Planning

We’re not talking about what happens to your soul, or if you are headed to a peaceful place, or even what happens to your physical remains. Have you thought about what happens to the world you leave, your family and friends and your possessions, after you die? Let’s say you... Continue reading

Posted Oct 8, 2018 at Annapolis, Maryland Wills, Trusts & Estate Planning

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