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Tag Archives: estate plan

What's the difference between dying intestate vs. with a will or trust?

Wills, Trusts & Dying Intestate: What’s the Difference?

By Andre O. McDonald |

“Estate planning is for the rich! I don’t have enough assets to do an estate plan!” Sounds familiar? These are some of the excuses folks make in order to justify not creating an estate plan. While most people understand that having some sort of an estate plan is a good thing, many of us… Read More »

How inheritance impacts your estate plan

How an Inheritance May Change Your Estate Plan

By Andre O. McDonald |

Receiving an inheritance is a huge blessing but, if not handled properly, can also become a curse. Often times, the inheritor does not know what to do with the new asset and runs into financial trouble, squandering most, if not all of it. This could happen due to the inheritor having outstanding creditor issues… 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 »

Understanding the differences between an estate, financial, tax and legacy plan

Financial Plan. Tax Plan. Legacy Plan. Estate Plan. How many plans do I need?!

By Andre O. McDonald |

Most folks have at least heard of an estate plan. But fewer realize that a simple will is not enough to prepare for your future. In fact, a combination of plans – financial plan, tax plan, legacy plan, and estate plan – are vital to your financial well-being and protection of your assets and… Read More »

The importance of a special needs trust

10 Tips for Using a Special Needs Trust to Protect Your Child

By Andre O. McDonald |

When caring for a child or loved one with special needs, it’s important to understand what resources are available to you, and what steps can be taken to provide quality care and financial security is vital to your dependent’s lifetime needs. Careful planning and a properly executed special needs trust can protect your loved… Read More »

How a personal property memorandum helps Maryland families preserve their history

How a Personal Property Memorandum Can Help Preserve Your Family’s History

By Andre O. McDonald |

With the holidays approaching, the best time to share your family history with loved ones is right now, before the memories are forgotten. The coming holiday season is a great opportunity to reminisce because you’ll probably have your loved ones nearby. While you can always pull aside children and grandchildren for a chat about… Read More »

How to Control Your Nest Egg in a Second Marriage using a Lifetime QTIP Trust

How a Lifetime QTIP Trust Protects Your Nest Egg in Second Marriages (and Beyond)

By Andre O. McDonald |

Estate planning for couples in a second or later marriage who have disproportionate estates can be tricky. To avoid second marriage inheritance issues, one solution for allowing the well-to-do spouse to maintain control of their assets but keep their other half happy is the Lifetime QTIP Trust.   The Basics of Creating a Lifetime… Read More »

How IRA retirement savings fit into your estate plan

How Does an IRA Fit Into Your Estate Plan?

By Andre O. McDonald |

When you think of IRAs, you probably think of retirement. But what happens to your IRA money after you’re gone? The answer depends on how you go about creating your estate plan and selecting beneficiaries, and you might be surprised to find out that your money could end up with the wrong people or… Read More »

Would your advance directive be readily available in an emergency?

Legal Planning to Address Alzheimer’s Disease

By Andre O. McDonald |

After procrastinating for several years, you decided to engage an estate planning attorney to prepare your estate plan. Now that the plan is completed, where do you store your Advance Directive /Health Care Power of Attorney, Living Will and HIPPA Authorization so that they are available in an emergency? At McDonald Law Firm, we… Read More »

Estate Planning for New Parents: How to Protect Your Sweet New Baby

New Baby? The Importance of Estate Planning for New Parents

By Andre O. McDonald |

Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together up until now,… 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

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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