The wife of a Supreme Court Justice is rarely a public figure. Yet, Virginia Thomas, wife of Justice Clarence Thomas, recently become well known for her extreme political views. Marriage to Clarence Thomas has given Virginia Thomas access to powerful people and she has availed herself of that privilege. While Virginia Thomas is entitled to […]
Have you checked the beneficiary designation for your IRA or 401K plan lately? Major changes occurred in 2019, when the SECURE Act rewrote the terms for distributing funds from retirement accounts to beneficiaries upon the owner’s death. Here are some concerns to consider. Under prior law, the named beneficiary could stretch the payment of retirement […]
After her mental breakdown in 2008, the California Courts approved a conservatorship restricting Britney Spears’ control over her own assets and health decisions. The resulting 13-year court-authorized supervision has been oppressive for Britney. You may be wondering, could that happen to me? There are two kinds of fiduciaries who can be named by a court […]
Will Your Children Think You Were Fair? Parents are often committed to being fair to their children. The desire to be fair comes up when planning an estate and determining how to split the “wealth” among descendants. Not every child is guaranteed an equal sized piece of the pie. Below are a few of the […]
Two Agents is One Too Many “The bank and the broker won’t accept our power of attorney,” came the report from my client. This is the exact opposite of what one would want and expect. Unfortunately, it is happening more frequently. Moreover, it happens most often when two or more people are named to […]
Old estate planning challenges have been exacerbated by the pandemic. New estate planning challenges have emerged. My approach to estate planning will forever be changed. Here is some of what I have learned. 1. Your heirs will need to have patience. Probate is a document intensive process to pass assets from your name to the […]
Covid-19 has been devastating for our elders. Our parents and grandparents, aunts and uncles, are suffering terribly from loneliness and fear. I hear about my older clients and family friends saying, I would rather die than live like this. Is the generation that survived the Great Depression, World War Two, the Cold War, and the […]
Retirement Accounts and Special Needs Trusts By Evan J. Krame At the end of 2019, the law governing retirement account distributions changed significantly. Until the passage of the SECURE Act, beneficiaries might qualify to stretch out an inherited IRA account over their lifetimes. Now, most designated beneficiaries have no more than ten (10) years to […]
Severe illness is on our minds as virus cases soar. While we may be coping with health care issues, there are also financial concerns and emotional needs. To reduce some of the stress, each of us should organize our estate information for easy access and do some simple planning. Here’s a checklist of items to […]
The time has come for that dreaded conversation with your children. I wish it was the one about sex. Love in the age of Corona virus means planning for illness and even death. This requires a dedicated discussion. Much has changed in the way we communicate. In other times, I would suggest that clients use […]
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Located in Rockville, Maryland, our firm is a dynamic and diverse practice which includes estate planning, guardianships, 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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