The current lifetime gift and estate tax exemption increases to $13.99 million per person ($27.98 million for married couples). However, this exemption will expire at the end of 2025. If no new law is passed, the exemption will drop to approximately $7 million per person ($14 million for married couples), leading to higher estate tax […]
Who you select to manage your affairs after you die is of paramount importance. Selecting the right “fiduciaries” is among the lessons we can learn from the estate of Little Richard. The estate of Richard Wayne Penniman, the legendary singer, songwriter and recording artist known as Little Richard, who passed away in 2020, owned intellectual […]
Most estate planners warn about the horrors of probate. It’s time-consuming, expensive, and invasive. While the process does have shortcomings, there are benefits to probate too. The probate system was designed to ensure that a person’s property and accounts are distributed according to state law. Probate is the legal process for distributing a person’s assets […]
The People vs. Orenthal Simpson captured the nation’s attention in 1995. The State of California brought charges against football and movie star, O.J. Simpson for the murder of former spouse Nicole Brown and her friend Ron Goldman. The case resulted in a not-guilty verdict. However, in a civil suit brought by the families, he was […]
Dennis Cunningham, famed civil rights lawyer, recently died of cancer. He was best known for advocacy on behalf of the Black Panthers and Attica prison inmates. Cunningham was also a devoted environmentalist. He wanted his body to be recycled. He instructed his children to have him composted after he died. Some refer to the composting […]
Can you clearly state the medical treatment you want at the end of your life? Many execute a living will to express their desires in case of a terminal illness or end-stage condition. We might not know when a disease is terminal or when that condition has reached the end stage. One challenge is to […]
Brian Wilson of The Beach Boys fame was the subject of the film Love & Mercy. Wilson was portrayed by both Paul Dano, as a young Brian, and John Cusack as a more mature Brian. The film addresses Wilson’s lifelong struggle with mental illness. Perhaps it is no surprise that the Court in California received […]
Have you been named the trustee of a trust? Perhaps a family member or close friend has honored you with the designation. Yet, the savvy trustee should be wary of taking on a fiduciary role. One recent Maryland case shines a spotlight on the dangers of being a trustee. As a fiduciary, you have responsibilities […]
Cindy Birdsong, of the Supremes, needed help controlling her dwindling assets. Mavis Leno, Jay’s wife, was diagnosed with Alzheimer’s disease before having completed her estate planning. After suffering a brain aneurism, Joni Mitchell was unable to make medical decisions. For each of these women, Courts were asked to appoint a Conservator. Cindy Birdsong. Courts appoint […]
Dianne Feinstein has many problems. She is a frail 90-year-old member of the United States Senate. In addition to her health problems, Feinstein is engaged in a lawsuit over trusts created with her late husband. We can’t avoid old age, but proper estate planning can help avoid family fights. Two separate lawsuits were filed in […]
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Located in Rockville, Maryland, our firm is a dynamic and diverse practice which includes estate planning, guardianship, probate and tax planning. Evan J. Krame, Esq. has become one of Maryland’s most respected attorneys practicing in the area of elder law and disability planning.
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