When navigating the intricacies of Medicaid, particularly when planning for long-term care, you’ll encounter terms that might be unfamiliar yet profoundly influential. One such term is “community spouse.” As your local Olney elder law attorney, I’m here to demystify this concept and its implications for Medicaid eligibility and benefits. What is a ‘Community Spouse’? A …
Inheriting an asset can be a mixed blessing. While it might signify a meaningful bequest from a loved one, it also comes with its own tax implications. One of the most significant tax features to understand when inheriting property is the “step-up in basis”. As Olney estate planning attorneys, we often encounter clients who are …
October 1, 2023 is the effective date of much of the legislation passed by the Maryland legislature during its legislative session in the Spring. There are a number of new laws that go into effect October 1, 2023 that may affect your estate plan. Our Olney estate planning attorneys explain in more detail below. Intestacy …
Olney Estate Planning Attorney Shares New Laws That May Impact Your Estate Planning Read More »
If you’ve ever questioned the difference between guardianships and powers of attorney for seniors, you’re not alone. As an Olney elder law attorney, I often field questions about these two distinct yet related legal mechanisms. Here’s an explanation to help you understand the nuances of each. Guardianships Explained Guardianships typically come into play when an …
For many retirees, dividing time between two beloved locations is the dream. Often known as “snowbirds,” these individuals enjoy northern US states in the summer before flocking to warmer climates come winter. While this lifestyle has many advantages, it can significantly impact the distribution of your assets when you pass away. For instance, Maryland state …
Inheriting assets is a mix of honor and responsibility. As an Olney probate lawyer, I’ve seen many people unprepared for the implications of managing their inheritance. The inclination to treat an inheritance as “bonus” money is common, but there are many pragmatic ways to use these funds for future benefits. Integrating Inheritance into Your Financial …
An Olney Probate Lawyer’s Guide to Managing Your Inheritance Read More »
Going through a divorce is an emotionally charged, challenging process. Amid the whirlwind of legal proceedings, contacting an estate planning attorney might not be at the top of your to-do list—but it should be. A divorce, often referred to as dissolution of marriage, can stretch over several months, sometimes even years. During this period, it’s …
Filing for Divorce in Montgomery County? Why Updating Your Estate Plan is Crucial Read More »
As an elder lawyer serving the Olney community, I often counsel families grappling with the challenges of caring for a loved one with dementia. A common and particularly distressing symptom of dementia is sundowning, characterized by increased confusion, agitation, and restlessness during the late afternoon and evening. Understanding what happens during sundowning and when to …
Understanding Sundowning and When to Seek Support: Guidance from an Olney Elder Lawyer Read More »
One common misconception when it comes to estate planning is the belief that one must have significant assets to establish a comprehensive plan. As an estate planning lawyer in Olney, I’m here to tell you that this simply isn’t the case. In fact, life insurance can play a crucial role in your estate planning, even …
As an Olney estate planning lawyer, I often receive questions about the roles and responsibilities of an executor and a power of attorney (POA), especially in situations where a loved one is no longer living at home. A question I recently received encapsulates a common misunderstanding: “My mom is in a nursing home and her …
