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Monthly Archives: June 2021

Irrevocable Life Insurance Trusts (ILIT) and Wealth Management

Irrevocable Life Insurance Trusts and Wealth Management

By Andre O. McDonald |

It may be time to reconsider how you plan to pass generational wealth to your heirs since the federal estate tax exemption allowance appears to be in jeopardy of being lowered. Congress is proposing to lower the current estate tax exemption from $11.7 million to $3.5 million for individuals and $23.4 million to $7… Read More »

Different Types of Life Insurance, and Which One is Right For You

Types of Life Insurance and How They Can Be Used in Estate Planning

By Andre O. McDonald |

Many of us do not start thinking about life insurance until we get our first full-time job and the company’s human resources representative asks us if we want to enroll in the employer’s group life insurance policy. Most people think “Why not?” and sign up, naming a family member as the beneficiary of their… Read More »

Understanding the estate planning implications of common law marriage

To Have, but Not to Hold? Common Law Marriage and Estate Planning

By Andre O. McDonald |

Marriage as a legal institution has taken a variety of forms throughout history. As society evolves, how we identify marriage in our society also changes. In some states, a couple may be deemed married without having participated in judicial or religious ceremonies, called common law marriage. This creates some potential issues when planning for… Read More »

Estate Planning strategies for parents with a special needs child

Estate Planning Tips for Parents of a Special Needs Child

By Andre O. McDonald |

Children with a wide variety of special needs (disabilities) can live more productive lives than ever before with today’s medicine and health care advancements. Many scientists regard the term “special needs” as a euphemism for disability. Yet, the difference between the two terms is primarily one of acceptance and preference as both terms describe the… Read More »

The problems created by simultaneous deaths of spouses

Simultaneous Deaths: What If My Spouse and I Die at the Same Time?

By Andre O. McDonald |

The chances of a married couple dying in a common accident or within a very short time of one another are probably quite slim. However, it does happen. And it happens frequently enough that most states have laws to address the issue and the problems that can arise from simultaneous deaths. What are these… 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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McDonald Law Firm, LLC

Columbia Office

10500 Little Patuxent Pkwy, #420
Columbia, MD 21044-3563

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(By Appointment Only)

7315 Wisconsin Avenue, Suite 800 West
Bethesda, MD 20814

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2101 L Street, N.W., Suite 300
Washington, DC 20037

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