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Tag Archives: estate planning

3 Celebrity Probate Disasters

Three Celebrity Probate Disasters and Tragic Lessons

By Andre O. McDonald |

One would assume that celebrities with extreme wealth would take steps to protect their estates. But think again: some of the world’s richest and most famous people enter the pearly gates with no estate plan, while others have made estate planning mistakes that tied up their fortunes and heirs in court for years. Let… Read More »

3 things to do if your trustee is unresponsive

What to Do if Your Trustee Is Unresponsive

By Andre O. McDonald |

A trustee has a duty under the law to communicate with beneficiaries and keep them reasonably informed as to the progress of the trust administration. In Maryland and the District of Columbia, such duty to inform may require the trustee to give beneficiaries a copy of the trust document, provide information regarding the anticipated… Read More »

3 things to know about cryptocurrency and your estate plan

Three Things You Need to Know about Cryptocurrency and Your Estate Plan

By Andre O. McDonald |

The popularity of cryptocurrency has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan. Beware of the Tax Consequences Transferring your cryptocurrency to other people, either during life or at your death, could have income,… Read More »

The Importance of LGBTQ+ Estate Planning

LGBTQ+ Estate Planning to Protect Yourself and Your Loved Ones

By Andre O. McDonald |

Estate planning is for everyone. Regardless of your wealth, age, marital status, gender identity, or sexual orientation, it is crucial to have a plan in place to protect your money, property, and loved ones in the event of an accident, illness, or death. For LGBTQ+ Americans, estate planning can be even more important. Despite… Read More »

When are estate plan updates necessary?

An Estate Plan Should Not Be a Set-It-and-Forget-It Endeavor

By Andre O. McDonald |

As we all know, life happens. There is really nothing we can do about it. However, some of the most common life events can have a dramatic effect on your estate plan. If you think your estate plan is like a slow cooker and you can set it and forget it, you and your… Read More »

4 elements of an estate plan that all seniors need

A Senior’s Guide to Estate Planning

By Andre O. McDonald |

Most older adults acknowledge that estate planning is essential. Yet, nearly half of Americans age 55 or more do not have a will, and even fewer have all the elements of an estate plan, including designated powers of attorney, a living will, or health care directives. These documents help guide your representatives to provide… Read More »

Domestic Partnership vs. Marriage: Rights in Estate Planning

Does a Domestic Partner Have the Same Rights as a Spouse When It Comes to Estate Planning?

By Andre O. McDonald |

The short answer to whether couples in a domestic partnership have the same rights as married couples when it comes to estate planning is … probably not. To a large extent, the state in which you live, and maybe even the city or county, determines domestic partners’ rights. What Is a Domestic Partnership? Everyone… Read More »

Electronic wills: what, where and why would I use one?

Electronic Wills: What are they, and should I use one?

By Andre O. McDonald |

What Are Electronic Wills? It was not very long ago that all legal documents were printed on paper and signed with a pen. But in today’s world, where we sign commercial contracts, form and run businesses, and buy everything from groceries to cars online, it seems almost prehistoric for state laws to require that… Read More »

Transfer on Death Deed: Pros and Cons

Using Beneficiary/Transfer-on-Death Deeds  

By Andre O. McDonald |

What Is a Transfer on Death Deed? If you own real property, such as a home, in your sole name but you have not created a trust and transferred your property’s title to the trust, it is virtually guaranteed that your beneficiaries (or heirs) will have to deal with probate after your death. If… Read More »

New FAFSA Rules: What Do They Mean for Grandparents

Changes to the FAFSA Form (and What It Means for Grandparent-Funded 529s)

By Andre O. McDonald |

For grandparents who want to leave a legacy to their grandchildren, the gift of a 529 college savings plan is an option. Not only can opening a 529 plan account help a grandchild with educational expenses, it can also help grandparents with their estate planning goals. In the past, grandparent 529 plans had the… 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

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10500 Little Patuxent Pkwy, #420
Columbia, MD 21044-3563

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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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