Another celebrity death and another lesson in estate planning mistakes. Lisa Marie Presley, the recently deceased daughter of Elvis Presley is the focus of a recent case before the Los Angeles Superior Court. The plaintiff is Lisa Marie’s mother, Priscilla Presley. The lawsuit focuses on estate planning basics. Did Lisa Marie properly sign and execute […]
Children sometimes steal from their parents. I’m not talking about the petty theft of a minor sneaking into dad’s wallet. The greater concern is with adult children caring for elderly parents. The Maryland Appellate Court has made it clear that the unauthorized taking of funds from a parent’s account is theft. The Appellate Court of […]
What do Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania all have in common? These six states are the only states to collect an inheritance tax. In addition to an estate tax, these states tax the transfer of wealth to the beneficiary. And the results can be severe. Many Maryland estates will be affected by the […]
The late actress Anne Heche committed the cardinal sin of estate planning. She had not executed a will. Heche died after her car crashed into a private home leaving her estate in disarray. Shortly after Heche’s death, a legal dispute arose between her 20-year-old son Homer Laffoon and her ex-partner James Tupper (and father of […]
Good Tax News! Positive news from the Internal Revenue Service is like the 1972 song by Climax, “precious and few.” Yet, we had such news recently. The Federal government taxes transfers of wealth but for intra-spousal transfers. These taxes are separate from and in addition to income taxes, unemployment taxes or Medicare taxes. The transfer […]
Estate Planning frequently requires choices as to how and when wealth is distributed to family. Just as death and taxes are certain, so too issues will arise and plans will be challenged. The skill of an attorney who can both craft and draft a document may be the difference between discord and harmony, especially when […]
Mom’s attorney asks her to select a trustee for the testamentary trust being created under Mom’s will. The trust is for the lifetime benefit of one child. The remainder will pass to the then surviving children or their families in equal shares. So who does mom trust to administer this trust fairly and devoted to […]
When children have unequal skills or different needs, estate planning can be flexible. The best planning may include a testamentary trust, designed to manage estate assets after the grantor’s death. While the solution is simple to suggest, the person engaged in estate planning will have to cope with several difficult choices As a result, Mrs. […]
As George Orwell wrote, all are equal, but some are more equal than others. In the context of wealth planning, not all children are created equal. Not equal in abilities. Not equal in interests. Not equal in the eyes of their parents. In four segments, I’ll attempt to address the range of considerations given by […]
The most helpful child of an elderly parent should not be trusted. That child might be a devoted caretaker or uplifting companion. When planning the parent’s estate, the helpful child often wants to control the process. That is when the attorney should anticipate that siblings will sue. Here’s why. In a recent New York case, […]
Evan J. Krame, Specializing In Trust Administration
Evan J. Krame, Specializing In Trust Administration
Monday – Thursday, 9 a.m. to 5 p.m.
We are open on Fridays by appointment only
Closed on all federal and state holidays and will also be closed September 3, 2021 , September 16, 2021, November 26, 2021 and December 23, 2021 to January 2, 2022.
November 25 – November 30; December 18, 2020 – January 3, 2021
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.
TEL: 301-468-3360
FAX: 301-468-3532
EMAIL: evan@kramelaw.com
