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Tag Archives: Attorney David Galinis

How Does the New Fiscal Cliff Legislation Affect my Estate Tax Planning?

By Berman, Sobin, Gross, Feldman & Darby LLP |

On January 2, 2013 the American Taxpayer Relief Act of 2012 was enacted, avoiding the so-called “fiscal cliff.” In addition to income tax changes, the law contained provisions on estate taxes which certainly did avoid something very cliff-like. Had the law not been enacted, the federal estate tax exemption would have reverted to $1… Read More »

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Maryland Same Sex Estate Planning in 2013 and Beyond

By Berman, Sobin, Gross, Feldman & Darby LLP |

Estate planning in Maryland for same sex couples is dramatically different as a result of two groundbreaking legal developments in 2013. On January 1 same sex marriage became legal in Maryland and on June 26 the Supreme Court struck down portions of the Defense of Marriage Act (DOMA). As a result, same sex married… Read More »

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Preparing For the Death of a Loved One: 7 Practical Recommendations

By Berman, Sobin, Gross, Feldman & Darby LLP |

This is not an easy time and, emotionally, there is not much that your lawyer can do to help. What we can to is to assist you in understanding some of the practical issues involved. Below we describe seven recommendations of things to do before your loved one passes. At a minimum, this list… Read More »

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5 Things to Understand About Maryland’s Inheritance Tax

By Berman, Sobin, Gross, Feldman & Darby LLP |

1. It’s All About Who Inherits Maryland has both an estate tax and inheritance tax. The estate tax is assessable if more than one million dollars passes at death. The total dollar value of the property determines whether there is an estate tax. The inheritance tax is not dependent upon the value of the… Read More »

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The End of the 12 Year Maryland Estate Tax Experiment

By Berman, Sobin, Gross, Feldman & Darby LLP |

The Maryland legislative session of 2014 began with a bang. Specifically, the House introduced HB 739 that presumably could cause major changes to the way you and I plan for the inevitable. Yesterday, the Maryland Senate approved Maryland State HouseHB 739 that will recouple the Maryland estate tax exclusion with that of the federal… Read More »

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What is so “Special” about a Special Needs Trust?

By Berman, Sobin, Gross, Feldman & Darby LLP |

The Problem. You have a disabled child who is currently receiving need-based public assistance such as Supplemental Security Income (SSI) and Medicaid. Your child is receiving those benefits because he or she is disabled and because he or she does not have sufficient income and resources. As a parent, you want to make sure… Read More »

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Death of a Loved One: Practical and Legal Guidance

By Berman, Sobin, Gross, Feldman & Darby LLP |

Dealing with the death of a loved one both before and after death are the two most difficult situations in our lives. In addition to the emotional toll, there are also innumerable details, practical and legal, surrounding a loved one’s death. Most people are not aware of the steps that need to be taken… Read More »

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Estate as Beneficiary of Life Insurance, IRA or 401k: Bad Idea

By Berman, Sobin, Gross, Feldman & Darby LLP |

The last place you want your life insurance, retirement account, or pay-on-death (POD) account to go upon your death is to your Estate. Thus, do not name your “Estate” as the beneficiary on the designation form provided by your insurer, broker, or financial institution. However, even if you don’t make this mistake on the… Read More »

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Get Your Advance Directive: Don’t Be A Headline

By Berman, Sobin, Gross, Feldman & Darby LLP |

In giving estate planning seminars, I am always trying to impress upon my audience the importance of planning while young and healthy. One of many reasons to plan sooner rather than later is to avoid being the subject of a news story like the one ran by the Associated Press on October 31, 2011:… Read More »

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Power of Attorney: Why Should I Give My Agent the Power to Make Gifts?

By Berman, Sobin, Gross, Feldman & Darby LLP |

The idea behind a Durable General Power of Attorney (POA) is to appoint someone (your agent) who can manage your financial affairs if you (the principal) are unable to do so. The overwhelming majority of the language in the document describes the various things that your agent can do. Most POAs (including mine) contain… Read More »

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