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Life insurance is often one of the first investments people consider when they begin estate planning. The right policy can help cover certain expenses for your beneficiaries after you pass. However, choosing the right life insurance policy for you and your family can be a difficult and confusing process. Policies vary widely in their terms. […]
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As published in citybiz and i95 Business. Sessa & Dorsey, an estates and trusts law firm headquartered in Hunt Valley, Maryland, announced the addition of Tina Lignos as an Estates & Trusts Attorney. Tina Lignos’ practice handles all areas of estate planning, estate administration, and trust administration. She advises her clients on the foundations of estate […]
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Parents and guardians of children with special needs are keenly aware that they must take extra precautions to ensure that their child will continue to live happy, healthy, and fulfilling lives after the parent or guardian passes away. To imagine a child with special needs carrying on without their current support system can be difficult […]
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Grantor Retained Annuity Trusts, or GRATs as they are commonly known, are a powerful tax-saving tool used by estate planners to shift assets with significant potential appreciation to beneficiaries without utilizing their lifetime gift tax exemption. When creating a GRAT, your assets are placed within an irrevocable trust which expires after a set period while […]
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Sometimes, the name given to certain federal tax laws disguises the full scope of the laws and the impact the laws may have on you individually. For example, the gift tax laws not only apply to formal gifts from one person to another, but they also apply to transfers whenever the donor shifts assets without […]
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For most of us, planning for life after death is not the standard topic for Sunday night dinner. Aside from the emotional weight of these conversations, finding the appropriate time and place to gather and discuss matters of funeral planning and inheritance can be a logistical concern for many families. However, delaying these discussions can […]
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When a relative passes away, we often imagine rummaging through countless boxes to determine what to keep, what to donate, and what to toss. Without proper planning, the process of sorting through a deceased family member’s belongings can be a difficult element of the grieving process, as well as a significant time commitment. In certain […]
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Sometimes, we are approached by prospective clients who wish to make changes to their irrevocable trusts—unaware that under current law, these trusts cannot be easily amended. In fact, modifying the agreements of an irrevocable trust, unless under very specific conditions, is a violation of state and/or federal law. As the current administration seeks to increase […]
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We are often approached by clients who are in the process of selling their business. While we love to offer legal advice and recommendations regarding the sale, it is imperative that we are contacted before or during the negotiation stages. Once the letter of intent (“LOI”) is drafted, any guidance an estate planning attorney could […]
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In 2021, the average tuition for four-year public colleges increased by 1%, and 2% for private colleges. These price increases reflect a trend that has been growing for years. Many parents and grandparents dream of the opportunities which higher education can provide for their children and grandchildren. However, the nightmare of massive student debt is […]
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