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Category Archives: Estate Planning

The importance of estate planning for millennials

To the Millennials: The Time to Plan Is Now

By Andre O. McDonald |

As a millennial, you are contributing to the workforce in a major way and are making positive changes in the world around you. We understand that your concerns may differ from someone of a different generation, and we are here to help you craft an estate plan that protects your future and addresses the… Read More »

Understanding the implications of the Corporate Transparency Act (CTA)

Corporate Transparency Act Update

By Andre O. McDonald |

Under the Corporate Transparency Act (CTA), which took effect January 1, 2024, many business entities including small limited liability companies (LLCs) and partnerships are required to file reports with the Treasury Department’s Financial Crime Enforcement Network (FinCEN). In these filings, applicable businesses must disclose important information about their entity. However, recent developments have called… Read More »

Understanding how a wrongful death claim impacts probate

How Does a Wrongful Death Claim Impact Probate Proceedings?

By Andre O. McDonald |

A wrongful death claim and probate proceedings are both civil legal matters that occur after somebody has died. When the death of a loved one is caused by another individual or entity, it can lead to the filing of a wrongful death lawsuit and, ultimately, the awarding of compensation to surviving family members. Probate… Read More »

The importance of a Qualified Domestic Trust in protecting your noncitizen spouse

Qualified Domestic Trusts: Your Jumpstart to Protecting Your Noncitizen Spouse

By Andre O. McDonald |

Married couples love each other and want the best for each other. Establishing a comprehensive estate plan is one way to provide the best for each other. Not only does an estate plan protect you when you are unable to care for yourself during your lifetime, but it also protects your hard-earned money and… Read More »

Understanding the limits on the trustmaker & trustee of a revocable trust

What Can I Not Do as Trustmaker and Trustee of a Revocable Living Trust?

By Andre O. McDonald |

Wills and living trusts are two of the most fundamental estate planning documents. While both accomplish the same primary objective in an estate plan of directing the distributions of your money and property to your desired beneficiaries after you pass away, a revocable living trust, often referred to simply as a living trust or… Read More »

Can an adult child keep living in parents house after they die?

What Happens to An Adult Child Living at Home When Their Parents Pass Away?

By Andre O. McDonald |

Today more young adults are living at home with their parents than at any time since the 1940s. While there are many different opinions about this trend and the cause of its recent prevalence, the primary motivation for young adults staying at home with their parents is usually related to finances. Most adult children… Read More »

The importance of naming a guardian for your child in your estate plan

Who Will Care for Your Child When You Cannot?

By Andre O. McDonald |

As a parent, you are responsible for the care of your minor child. In most circumstances, this means getting them up for school, making sure they are fed, and providing for other basic needs. However, what would happen if you and your child’s other parent were unable to care for them? It is important… Read More »

Diversity and inclusion concept. Colorful figurines on the dark surface.

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 »

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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

Columbia Office

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

Bethesda Office:

(By Appointment Only)

7315 Wisconsin Avenue, Suite 800 West
Bethesda, MD 20814

Washington, DC Office:

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

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