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Tag Archives: estate planning attorney

Can someone else collect money owed to deceased person?

Collecting Debts on Behalf of Your Deceased Loved One

By Andre O. McDonald |

People often engage in transactions that result in money being owed to them, such as loaning money to a friend or business partner or renting a house to a tenant. But what happens if someone passes away before they receive the money owed to them? Can someone else collect the money owed to deceased… Read More »

4 Pieces of Information Every Surviving Spouse Needs to Know

Four Things Your Spouse Should Know Before You Die

By Andre O. McDonald |

It is normal for married couples to share almost every aspect of their lives with each other. But when it comes to death, even the closest couples might become tight-lipped about certain topics. According to one study, half of all couples fail to discuss their dying wishes.[1]  Death is final for the departed. For… Read More »

what is the difference between payable on death vs transfer on death accounts?

Difference Between Transfer on Death and Payable on Death Designation

By Andre O. McDonald |

Adding a payable on death (POD) or transfer on death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies. But what is the difference between payable on death vs transfer on death accounts? Like trusts, POD… Read More »

Should I name a different trustee in the event of my incapacity vs. my death?

Should the Trustee of My Trust Be Different During My Incapacity Than at My Death?

By Andre O. McDonald |

When you create a trust, choosing a trustee is one of the most important decisions you will make. If you create a revocable living trust—that is, a trust that you establish during your lifetime and can revoke or amend—you may opt to act as trustee for your trust, retaining the full control over and… Read More »

This information should never be included in your estate planning documents!

What Not to Include in Your Estate Planning Documents

By Andre O. McDonald |

One important purpose of estate planning is to facilitate the transfer of ownership of your money and property to your family and loved ones when you pass away. For this transfer to be as stress-free and efficient as possible, it is crucial that estate planning documents be thorough and provide the necessary information. Nevertheless,… Read More »

The purpose of a devise in a will

What Is a Devise in My Estate Plan?

By Andre O. McDonald |

If you are thinking about creating an estate plan, you may hear some new and confusing terms that make your brain hurt. To add to your bewilderment, not only are some of the words unfamiliar, they may also be homophones—words that are pronounced the same as other words, but have different meanings and spellings…. Read More »

Estate planning considerations for self employed individuals

Three Important Concerns Self-Employed Individuals Should Address

By Andre O. McDonald |

Being self-employed is no easy task. You are the owner, and in some cases, the only employee. While you may have more freedom than the average worker, a lot of responsibilities lie on your shoulders. Working together, we can craft a comprehensive estate plan that will help you address three important concerns you may… Read More »

What is a living will ? Read on to find out

Creating a Living Will

By Andre O. McDonald |

What is a living will? Creating a living will ensures your future healthcare decisions and plans are respected. A living will, also known as an advance directive, is a legal document outlining medical treatment preferences and end-of-life care if you can’t communicate or make decisions for yourself. Everyone should have an advance directive, as… Read More »

Estate tax vs inheritance tax: do you know the difference?

Estate Tax vs Inheritance Tax

By Andre O. McDonald |

Estate tax vs inheritance tax… what’s the difference? These two forms of taxation relate to transferring wealth from generation to generation but are entirely different. The federal government levies a tax on all estates when the value meets a certain financial threshold. Twelve states (including Maryland) and the District of Columbia levy additional estate… Read More »

What do do with a loved one's digital footprint after they pass

Handling a Loved One’s Digital Footprint After They Die

By Andre O. McDonald |

Most adults have not made a will, let alone created an estate plan addressing their online profiles and accounts (aka their digital footprint). As your online presence grows professionally and personally, taking charge of your digital assets and plans for them after you die becomes important. Some social media companies like Facebook, Instagram, and… 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.

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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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