Category Archives: Partnership Planning

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Who should be in charge if you can’t be?

Choosing the people to whom you want to assign responsibility in case the worst happens is a stumbling block that keeps many of us from creating estate planning documents, such as wills, trusts and powers of attorney.  Who should my executor be? Who could manage money for kids who will be my heirs? Who would…MORE

Author: Lawrence S. Jacobs 04/16/2018

Why Pre-nups Are Not Only for Rich and Famous People

You don’t have to be a Kardashian to need a premarital (prenuptial) agreement. Here’s why. Many of us enter into marriages after years of successful earning and asset accumulation. Maybe you built a business. You may expect to inherit money. Maybe you’re really attached to the beach house you owned before you met. Even if…MORE

Author: McMillan Metro, Lawrence S. Jacobs 09/30/2016

Seven Myths of Estate Planning

I’ve represented hundreds of same-sex couples and single LGBT people, and I’ve learned that many of them have mistaken ideas about just what estate planning is and how it works—especially now that marriage is an option.  Sometimes those notions keep them from taking rational and not-so-difficult steps to protect their families and assets. In a…MORE

Author: Lawrence S. Jacobs 03/15/2016

What Happens to Your E-mail and Facebook® Accounts When You Die?

A growing issue involves what happens to our digital assets upon death. On a daily basis, we create vast quantities of “digital assets” in the form of text messages, as well as images such as photos and media. Common examples include Facebook, LinkedIn, Twitter, websites, contact lists, Netflix, Amazon, iTunes, electronic books (such as Kindle),…MORE

Author: Ronald E. Lyons 03/17/2015

Don’t Play Password Jeopardy

Without looking, can you name the five most important online financial accounts in your life – and the passwords that go with them? I suppose you might be able to do that, especially if you ignore everybody’s advice and use the same password over and over. But now take that test to the next level….MORE

Author: Lawrence S. Jacobs 09/10/2014

Think Twice Before Rolling Over Your TSP

If you or anyone in your household is a Federal employee, you know that TSP is shorthand for your Thrift Savings Plan – a retirement savings plan that many people outside the government truly envy. As I help clients with their estate plans, a TSP is often one of their biggest assets. Among other things,…MORE

Author: Lawrence S. Jacobs 08/18/2014

Big Issue, Short Take – March 2014

COMING SOON — MARYLAND ESTATE TAX RELIEF:   Last week, the Maryland General Assembly passed a law raising the estate tax exemption.  The Maryland estate tax exemption has been pegged at $1.0 million dollars for years.  With many other states having higher (or unlimited) exemptions, Maryland residents were incentivized to move out of State as…MORE

Author: Ronald E. Lyons 03/25/2014

“A new perspective, a new insight”…

Those were the words used by Justice Kennedy to describe our country’s evolving understanding of same-sex marriage. In his opinion finding the Defense of Marriage Act to be unconstitutional, he declared that “same-sex couples should have the right to marry and so live with pride in themselves and their union in status of equality with…MORE

Author: Lawrence S. Jacobs 06/26/2013

Same-Sex Marriage in Maryland

The vote is in: 2013 will bring same-sex marriage to Maryland. This is a time for celebration, and we look forward to sharing your joy. We know that many of our clients have been waiting to get married until they could do it legally in Maryland. The new law will have many positive implications, especially…MORE

Author: Lawrence S. Jacobs 11/07/2012

Adding a Domestic Partner to Title

In the January issue of the McMillan Metro Alert, we advised our clients that the State of Maryland had carved out a limited exemption from the 10% inheritance tax for the devise of an interest in a principal residence jointly owned by domestic partners to the surviving partner along with the requirements for qualifying for…MORE

Author: Donna M. McMillan 08/25/2010

Maryland Attorney General Issues Opinion on Same Sex Marriage

Earlier this year, the Maryland Attorney General (“AG”) issued a long awaited opinion regarding the treatment in Maryland of same sex marriages validly created in other jurisdictions. While the AG’s opinion did not constitute a change in the laws of Maryland relating to the rights of same sex couples in Maryland to marry in the…MORE

Author: Donna M. McMillan 05/28/2010

What Happens When You Die Without A Will?

There are two things you can count on – death and taxes! Both of these issues can be addressed in a Will. If you die without a Will, the assets of your estate will be distributed according to the laws of intestacy in the state of your domicile. In Maryland, distribution of assets owned by…MORE

Author: Ronald E. Lyons 09/01/2009

In a Divorce, A Beneficiary Designation Trumps the Divorce Agreement

The need for a divorced individual to look at all of his or her beneficiary designations on his or her retirement plans was made clear this week in a unanimous Supreme Court decision which upheld the beneficiary designation set forth in a retirement plan over the waiver of rights to the retirement plan under a…MORE

Author: Lona L. Feldman 02/01/2009