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Category Archives: Estate Planning

do married couples need separate estate plans?

Do Married Couples Need Separate Estate Plans?

By Andre O. McDonald |

The average American family has changed a great deal over the last few decades. The assumption that a couple will share finances, tax obligations, and a last name is one that does not necessarily apply in the 21st century. There are more options than ever before to keep your finances, identity, and future plans… Read More »

The importance of financial power of attorney

What is a financial power of attorney?

By Andre O. McDonald |

The wealth, property, and investments we accrue over a lifetime are often significant. While you have carefully managed your finances through the years, there may eventually come a time when you cannot handle such decisions. Planning for the likelihood that you are unable to manage your financial affairs is paramount, thus it’s important to… Read More »

4 Things You Must Do to Protect Your Family When Preparing for Deployment

Preparing for Deployment? Here’s What You Need to Do

By Andre O. McDonald |

You just received your orders, and you will be deployed shortly. No matter the time frame, there is still time to make sure your affairs are in order. Here are 4 things you need to do to safeguard your family’s future while preparing for deployment. 4 Things You Need to Do When Preparing for… Read More »

Can I make a video will rather than a written document?

Can I make a video will?

By Andre O. McDonald |

In the golden age of the smartphone, you’re never far from a camera. This has made the sharing of videos and photos easier than ever before. Easy access to a quality camera has led many people to wonder: can I make a video will? More importantly, folks are curious about whether such a “will”… Read More »

Does a revocable living trust protect your assets in the event of a lawsuit? The answer may surprise you...

Does a Revocable Living Trust Protect Me Against Lawsuits? (Hint: NO!)

By Andre O. McDonald |

Many people believe that once they set up a Revocable Living Trust and transfer assets into the trust, those assets are protected from lawsuits. This is absolutely not true. While Trusts commonly provide asset protection for beneficiaries, few trusts protect assets owned by the person who created the trust.   No Immediate Asset Protection? … Read More »

Trusts and probate in Maryland: what you need to know

My Trust is Signed, No Probate for My Family Right?

By Andre O. McDonald |

Planning ahead has obvious benefits. Whether you’re planning a vacation or researching for a job interview, it’s always smart to outline your priorities and anticipate potential challenges that may arise. Planning your estate has similar benefits. With plans clearly established, your wealth and assets are protected should you pass away or become incapacitated. It’s… Read More »

Blood test for Alzheimer's disease: pros and cons

New Blood Test For Alzheimer’s May Detect the Disease Years Before Onset of Symptoms

By Andre O. McDonald |

Alzheimer’s disease is becoming more prevalent among aging Americans, and there are more aging Americans than ever before. Alzheimer’s disease has three typical biomarkers: plaques of beta-amyloid protein, tangles of tau protein, and loss of connections in the synapses that communicate information between brain cells. Now a simple blood test for Alzheimer’s may be able… Read More »

What rental property owners need to know about estate planning

Estate Planning Considerations for Rental Property Owners

By Andre O. McDonald |

In all parts of the country, services such as Airbnb have grown in popularity over the past few years. Indeed, these alternatives to hotel stays are popular among homeowners and vacationers alike. If you have a home or other rental property that is generating income, you should understand the following asset protection and estate… Read More »

5 documents you need to help get your affairs in order

5 Documents You Need to “Get Your Affairs in Order”

By Andre O. McDonald |

Five words no one ever wants to hear from their doctor: “Get your affairs in order.” Unfortunately, 58 percent of Americans do not have a will or trust, and it often requires a chronic disease or terminal illness diagnosis, or other life-changing event to prompt the estate planning process. Talk to your attorney about… Read More »

What's the difference between elder law and estate planning?

Elder Law vs. Estate Planning: What’s the Difference?

By Andre O. McDonald |

The short answer: Both estate planning and elder law share similar concerns. The longer answer? The differences make all the difference.   Elder Law vs. Estate Planning: The Concerns are Similar   No matter what age we’re, life can deliver some hard knocks. Hope for the best, but plan for the worst. We can… Read More »

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For help with estate planning, special needs planning, elder law or Veteran's Pension 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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