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Tag Archives: estate plan

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 QTIP… 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 »

Protecting Your Finances (and Your Family) as You Age

Financial Smarts Peak at 50, Here’s How to Protect Your Older Self

By Andre O. McDonald |

A study conducted by Texas Tech University concluded that the ability to make smart financial decisions peaks at age 50. This decline was observed in both men and women, making both sexes equally vulnerable to financial fraud as they age.   4 Tips for Protecting Your Finances From Scams, Shams and Schemes as You… 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 »

Do you need to update your Estate Plan?

Wondering Whether You Need to Update Your Estate Plan?

By Andre O. McDonald |

Yes, You Do. And Here’s Why. Please allow us to be frank. It’s unrealistic to think that a piece of paper – an estate plan – that you draft, reflecting your life at a certain time, will work when your life has completely changed some years later. We’ll use the Chandler family as an… Read More »

Newlyweds Estate Planning Basics

Estate Planning Basics for Newlyweds – How to Get Prepared for the Unexpected

By Andre O. McDonald |

It’s that time of year – the time for beautiful weddings, fun receptions, delicious cakes, special gifts, and romantic honeymoons. While this is a joyous time for everyone, especially newlyweds, it’s also time for you and your new spouse to plan for your future – for richer or for poorer, in sickness and in… 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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