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Monthly Archives: April 2024

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What to Do When a Disability Throws Your Estate Plan into Chaos

By Andre O. McDonald |

As poet Robert Burns mused centuries ago, the best-laid plans of mice and men often go awry. Despite thoughtful effort and a concerted strategy, you cannot prepare for every emergency in life. A car accident, sudden illness, workplace injury, or chronic medical condition can force you to reevaluate the core assumptions you used to… Read More »

The ins and outs of Intrafamily Loans

Intrafamily Loans and How They Work

By Andre O. McDonald |

Intrafamily loans are financial arrangements between family members—one who is lending and another who is borrowing. An intrafamily loan may be used to help a family member who needs money for a number of reasons: buying a home funding or purchasing shares in a business adding accounts or property to investment portfolios paying down… Read More »

Understanding different types of retirement accounts and estate planning

Are Pensions Treated the Same in Your Estate Plan as Other Retirement Accounts?

By Andre O. McDonald |

The first private pension plan in the United States was established in the late 1800s. Through 1980, nearly 40 percent of Americans were covered by a traditional employer-funded pension. But employer-provided retirement plans have now largely shifted to retirement savings vehicles like 401(k) plans and Individual Retirement Accounts (IRAs) that place most of the… Read More »

5 Reasons You May Need to Update Your Estate Plan

5 Life Events That Require You to Update Your Estate Plan

By Andre O. McDonald |

An estate plan is a magical thing: it allows you to maintain control of your assets, yet protects you should you become incapacitated. It takes care of your family and pets. And, if carefully crafted, it reduces fees, taxes, stress, and time delays. Your estate plan can even keep your family and financial affairs… Read More »

The danger of taking legal advice from nonlawyers

Beware of Nonlawyers Acting Like Lawyers

By Andre O. McDonald |

When people think about creating an estate plan, they may think it just involves getting a set of forms that convey their wishes regarding their finances, health, and what will happen to their stuff when they die. Although the documents that comprise an estate plan may seem like simple forms, these important estate planning… 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.

McDonald Law Firm, LLC

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

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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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