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4 common estate planning misconceptions and the essential truths behind them

Estate Planning Truths: Debunking Common Misconceptions

By Andre O. McDonald |

Estate planning often feels complex, leading many people to rely on assumptions that can have devastating consequences for their loved ones and their legacy. From whom can make decisions for you to whether you need an estate plan, common myths can stand between you and a secure future. Let’s debunk these widespread estate planning… Read More »

Receiving a chunk of money? It's important to understand how to make your inheritance last

How to Make Your Inheritance Last

By Andre O. McDonald |

Receiving an inheritance, whether large or small, often comes with a wide range of emotions, from the grief of losing a loved one to the hope and excitement about the possibilities the inheritance may create. According to Northwestern Mutual’s 2025 Planning & Progress study, over half (57 percent) of Americans who expect to receive… Read More »

Understanding the true cost of inheriting a home

The True Cost of Inheriting a Home

By Andre O. McDonald |

The United States is in the midst of the largest generational wealth transfer in history. Over the next few decades, baby boomers are expected to pass down an estimated $84 trillion in money and property,[1] around $18–19 trillion of it related to residential real estate.[2] For millions of younger Americans, this means inheriting a… Read More »

What is trust funding?

Trust Funding: Setting Your Trustee Up for Success

By Andre O. McDonald |

A revocable living trust can serve as a valuable estate planning tool to help ensure that your finances remain well managed if you become incapacitated (unable to manage your affairs while you are alive) and to provide future financial security for your loved ones upon your passing. However, merely signing the trust agreement does… Read More »

Why a trust for your child needs to mature along with them as they age

Why a Trust for Your Child Should Mature with Your Child

By Andre O. McDonald |

From the moment a child is born, a parent feels an instinctive drive to protect and nurture. We childproof our homes, carefully choose schools, offer guidance through adolescence, support their careers, and watch with pride as they start their own lives. The desire to be there for them extends beyond emotional and physical care…. Read More »

What you need to know about funding a living trust

How to Help Your Loved Ones (and Your Life Savings) Avoid Probate

By Andre O. McDonald |

Today, many people use a revocable living trust instead of a will, joint ownership, or beneficiary designation as the foundation of their estate plan. When properly prepared, a trust avoids the costly public, and often time-consuming, court processes of conservatorship or guardianship (due to incapacity) or probate (after death). Still, many people make one… Read More »

What to Do When You Do Not Own What You Think You Own

By Andre O. McDonald |

Imagine the following scenario: You have been living in a house for years. As your mother’s sole heir, you inherited it from her when she passed away. You pay the taxes and insurance. You make the repairs and mow the lawn. You call it home, and everyone in the family calls it “yours.” However,… Read More »

Is it fair to leave your children unequal inheritances?

Does Treating Your Children Fairly Mean Unequal Inheritances?

By Andre O. McDonald |

When thinking through their estate plan and how they want their assets(money and property) managed after they pass away, most parents wish to treat their children equally, often out of a sense of fairness. However, sometimes being fair or doing what is right by your children may mean giving unequal inheritances. The Key Takeaways… Read More »

Understanding the basis of income tax basis planning (and why it matters)

Is an Income-Tax Time Bomb Lurking in Your Estate Plan?

By Andre O. McDonald |

As the federal estate tax exemption has ballooned from $5 million in 2011 to $13.99 million today (increasing to $15 million in 2026 adjusted for inflation), the need for estate tax planning has drastically decreased. However, with a top marginal income tax rate of 37 percent, the focus of estate planning has shifted to… Read More »

Minimalist estate plan? Bad idea!

Minimalist Estate Plan? Save “Less is More” for Your Decor!

By Andre O. McDonald |

In a modern world marked by information overload, overflowing inboxes, nonstop notifications, and the constant pressure to accumulate more stuff, minimalism offers a compelling counternarrative. But, is a minimalist estate plan a smart idea? NO! Let’s discuss why… Born from the mid-twentieth century artistic rebellion and revived in the 2010s on the back of… Read More »

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For help with estate planning, special needs planning or elder law throughout Howard, Montgomery, Prince George’s, Anne Arundel, and Baltimore County; and Baltimore City, contact McDonald Law Firm, LLC.

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Bethesda, MD 20814

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Washington, DC 20007

P: 202-640-2133
F: 443-977-6977
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