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Guardianship is the court process of appointing someone as the guardian to manage the personal or financial affairs of a minor or an incapacitated adult. Once appointed and approved by the Court, the guardian is responsible for those matters which are assigned in the guardianship. The guardian may be responsible for making decisions related to […]
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When we meet with our estates and trusts clients, the conversation about life insurance policies often arises. Life insurance policies go hand-in-hand with estate planning. As you plan for what will happen with your assets after you pass, you should consider what life insurance policy best meets your family’s needs. Although we at Sessa & […]
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If you die without a Last Will and Testament, you are giving up the power to control who will receive the assets, held in your sole name, that you have accumulated during your life. The Maryland laws of intestacy will determine both who will receive these assets and who will settle your affairs after your […]
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Let us get this out of the way—we know that prepaid funerals are not the most lively of topics! However, prepaid funerals are becoming a more popular topic of discussion during the estate planning process. We want to share with you the details regarding prepaid funerals and why you may want to consider one. […]
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The Federal Gift and Estate Tax Exemption A popular way to save federal estate taxes is for an individual to make gifts during lifetime to take advantage of the federal lifetime gift tax exemption. The federal lifetime gift tax exemption allows assets worth a certain value to be gifted without those gifts being subject to […]
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Cheri Dorsey was featured on Buckingham Wealth Partners’ podcast, “Ask Buckingham,” hosted by Tim Maurer. Cheri discussed with Tim what a medical power of attorney is and what it does. To view the original post and video, please visit Buckingham Wealth Partners’ website here. The Transcript of the Podcast Episode Tim Maurer: Tim Maurer, we’re back […]
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In December 2019, Congress quickly passed the Setting Every Community Up for Retirement Enhancement Act, more commonly known as the SECURE Act. The SECURE Act is a big deal for many reasons, the first being it was put into effect immediately in January 2020 with little notice. The second reason is that it changed a […]
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Cheri Dorsey was featured on Buckingham Wealth Partners’ podcast, “Ask Buckingham,” hosted by Tim Maurer. Cheri discussed with Tim what is a Financial Power of Attorney and what does it do? To view the original post and video, please visit Buckingham Wealth Partners’ website here. The Transcript of the Podcast Episode Tim Maurer: Hello, I’m Tim […]
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Often, individuals create trusts as an important part of their estate plan. Depending on the type of trust, they offer several benefits from avoiding certain taxes and probate, to protecting assets from creditors, and other financial and privacy concerns. What is a Trust? A trust is a legal agreement in which a person, the […]
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Tom Sessa and Cheri Dorsey have over 40 years combined of experience practicing estates and trusts law. Our team has heard it all from our clients. One of the most common misconceptions we receive is that estate planning is a one-and-done type of deal. Although it is important to have an estate plan in place, […]
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