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 […]
The Maryland Legislature recently made it more difficult (but not impossible) to disinherit a spouse. When one spouse dies, the survivor has rights to the marital estate. However, the deceased spouse could have owned assets in a way that shielded them from the surviving spouse’s marital rights. The key change made by the new law […]
Hopefully, each of us has at least one person we trust to aid us in a time of distress or illness. When it comes to financial matters, we hope that those people are savvy in asset management, record keeping, and tax compliance. Most often when selecting fiduciaries, such as agents under a power of attorney, […]
The appointment of an agent under a Power of Attorney is a minefield of potential abuses. Even a trusted person can become untrustworthy. Agents often have a great deal of discretion and the potential for conflicts of interest abound. If a power of attorney is effective when executed, the agent can act on the principal’s […]
“Whom do you trust?” is the most challenging question for people planning their estates. This question arises because we each need to rely upon others for support in times of crisis or illness. We wonder who we trust to be honest, fair, reliable, and diligent. Designating an agent involves careful consideration of when, how, and […]
Congress just changed the law governing IRA distributions. The result is not good for your children. The law change affects when a person passes away how their IRA transfers to a named beneficiary of a younger generation. Under the old law, the beneficiary could stretch the payments from the IRA over their lifetime. The non-spousal […]
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
