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Tag Archives: beneficiary

What Happens if my Beneficiary Dies Before Me?

What Happens If My Beneficiary Dies Before Me?

By Andre O. McDonald |

When planning for death, most people assume they will die before their beneficiaries (e.g., their spouse, children, and grandchildren). While these assumptions are often well-founded, they do not always come to pass. This may have you wondering, “so what happens if my beneficiary dies before me”? Or, if this has already happened to you,… Read More »

7 pitfalls to watch out for when choosing beneficiaries in your estate plan

Designating Beneficiaries: 8 Pitfalls You May Not Know About

By Andre O. McDonald |

You might think that leaving your property to your heirs would be simple enough. You make a will or a trust, you do a transfer-on-death deed for your real estate, you put your kids on your bank account, you designate beneficiaries for your life insurance and retirement accounts, and you’re done. If only things… Read More »

New homeowner checklist: what now?

New Homeowner Checklist: 3 Things To Do ASAP!

By Andre O. McDonald |

Congratulations on the purchase of your new home!  Whether this is your first home or an upgrade/downsize, the purchasing of a home is a big event in your life.  When these major life changes occur, it is important that you are properly prepared. To get you started, we have put together a brief new… Read More »

How to Avoid Probate Costs in Maryland

3 Simple Ways to Avoid Probate Costs in Maryland

By Andre O. McDonald |

The bad news: not only does probate take forever, probated estates are subject to a variety of costs from attorneys, executors, appraisers, accountants, and courts. Depending on the complexity, probate costs in Maryland can run into tens of thousands of dollars. In Maryland, attorneys’ fees and executors’ fees are regulated by state statute; the final… Read More »

Wills for New Parents: 5 Things You Must Know

Wills for New Parents: What You Need to Know

By Andre O. McDonald |

As a new parent, you naturally want to guarantee your new baby’s future in every way. For many new parents, infancy is a time for celebrating new life, and making a will is the last thing on their minds. For others, the process of bringing new life into the world sparks intense feelings of… Read More »

Are payable on death accounts a smart choice for your family?

Is a Payable on Death Account Right for You and Your Family?

By Andre O. McDonald |

Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. What is a Payable on Death Account? A POD account is a type of bank account authorized by state law which allows the account owner to designate one or more beneficiaries to receive… 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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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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