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Recent Blog Posts

How to Transfer Frequent Flyer Miles After Death

Can you transfer Frequent Flyer Miles after death?

By McDonald Law Firm, LLC |

With the 2017 holiday season on its way and many Marylanders flying to visit family, earning tens of thousands of frequent flyer miles along the way, the question becomes … what can you do with your frequent flyer miles? If you’re a frequent airline traveler, one of your estate planning concerns may be what… Read More »

How a personal property memorandum helps Maryland families preserve their history

How a Personal Property Memorandum Can Help Preserve Your Family’s History

By McDonald Law Firm, LLC |

With the holidays approaching, the best time to share your family history with loved ones is right now, before the memories are forgotten. The coming holiday season is a great opportunity to reminisce because you’ll probably have your loved ones nearby. While you can always pull aside children and grandchildren for a chat about… Read More »

How long should you keep important documents? A cheat sheet

How long should you keep important documents?

By McDonald Law Firm, LLC |

In a society dominated by paperwork, many people wonder – how long should you keep important documents – especially those of a financial or personally identifying nature? People who worry about losing something important sometimes hoard everything; others who worry about things like identity theft are too quick to shred documents. Most of us,… Read More »

Guardianship & Money: What happens if the person you choose isn't good with handling finances?

IRAs, Annuities and Guardianship: Providing for Your Minor Children After You Die

By McDonald Law Firm, LLC |

For most parents, making decisions regarding guardianship of their minor children is the most vexing part of estate planning. Not only must you trust the appointed guardian to raise your children as you’d want them raised, but you also need that person to be financially responsible with your children’s inheritance. For example, if you… Read More »

Uses for annuities in estate planning

Understanding the Role of Annuities in Estate Planning

By McDonald Law Firm, LLC |

Selecting the right type of annuity for yourself is no small feat. Of course, you’ve put in the research and planned with your financial advisors. But, you might still be wondering what happens to those annuity payments upon your death. Let’s start by discussing the role of annuities in estate planning. In addition to… Read More »

Estate tax repeal: planning for the future without a crystal ball

Estate Tax Repeal: Planning for the Future Without a Crystal Ball

By McDonald Law Firm, LLC |

Creating a will, trust, or any type of estate plan has always involved dealing with an uncertain future. Consider that just 20 years ago in 1997, the estate tax had an astonishing 55% rate with only a $600,000 exemption. Back then, tax-driven estate planning was a mathematical necessity for a large segment of the… Read More »

Planning on leaving money to grandchildren in a will? Avoid these common mistakes.

Planning on Leaving Money to Grandchildren in a Will? Don’t Make These Common Mistakes!

By McDonald Law Firm, LLC |

As we build wealth, we naturally desire to pass that financial stability to our offspring. With the grandkids, especially, we often share a special bond that makes us want to provide well for their future. However, that bond can actually turn into a weakness if proper precautions aren’t set in place. If you’re planning… Read More »

How to Control Your Nest Egg in a Second Marriage using a Lifetime QTIP Trust

How a Lifetime QTIP Trust Protects Your Nest Egg in Second Marriages (and Beyond)

By McDonald Law Firm, LLC |

Estate planning for couples in a second or later marriage who have disproportionate estates can be tricky. To avoid second marriage inheritance issues, one solution for allowing the well-to-do spouse to maintain control of their assets but keep their other half happy is the Lifetime QTIP Trust.   The Basics of Creating a Lifetime… Read More »

How IRA retirement savings fit into your estate plan

How Does an IRA Fit Into Your Estate Plan?

By McDonald Law Firm, LLC |

When you think of IRAs, you probably think of retirement. But what happens to your IRA money after you’re gone? The answer depends on how you go about creating your estate plan and selecting beneficiaries, and you might be surprised to find out that your money could end up with the wrong people or… Read More »

Would your advance directive be readily available in an emergency?

Doctors Unable to Obtain Advance Directives from Electronic Health Records Systems

By McDonald Law Firm, LLC |

After procrastinating for several years, you decided to engage an estate planning attorney to prepare your estate plan. Now that the plan is completed, where do you store your Advance Directive /Health Care Power of Attorney, Living Will and HIPPA Authorization so that they are available in an emergency? At McDonald Law Firm, we… Read More »

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

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