Stouffer Legal Blog - Estate and Elder Law in Towson, Maryland

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People in Distress May Sign Away Inheritance

A recent MarketWatch article described the anguish of being distressed and giving up your inheritance for some quick money in "My drug-addicted friend signed away his $800,000 inheritance to his brother — now he’s clean, can he get it back?"

November 12, 2020

Balancing Long-Term Care Needs for Couples

Creating a long-term care plan that involves moving into a new type of residence can be especially tricky for couples who have different needs. Prioritizing the needs and wants of each individual is necessary.

November 11, 2020

Tips to Improve the Application Process for Veterans’ Benefits

Helping aging veterans and their surviving spouses apply for VA benefits can be more complicated than many realize. Below are some tips to help you successfully navigate the rules and regulations of the Department of Veterans’ Affairs to ensure that you get the benefits to which you are entitled.

November 9, 2020

What is an Insolvent Estate?

When there are not enough probate assets to pay all of the creditors of the estate including funeral expenses and all other administration expenses, the estate will be labeled as insolvent. Basically, you have an insolvent estate when liabilities exceed assets.

November 6, 2020

Everyone Needs a Will and Age Doesn’t Matter

The majority of Americans do not have a will, according to a survey reported by The New York Times recently in "Why You Should Get Around to Drawing Up a Will."

November 5, 2020

Medicaid Planning: Irrevocable Trusts

Medicaid planning involves reviewing income and assets to determine strategies to protect certain assets while still meeting the criteria for Medicaid qualification. When done correctly, this allows an individual to retain certain assets and even leave a legacy behind while still benefiting from Medicaid payments going towards long-term care needs.

November 4, 2020

Counteracting Cognitive Decline with Vision Improvement Strategies

Older adults with vision impairment issues, whether due to cataracts, glaucoma or other diseases, often find that they have difficulty communicating with others and engaging in their surroundings due to the vision loss. This can have a significant impact on their mental acuity.

November 2, 2020

What Happens When a Will Contains Ambiguous Language?

There are times when the family reads the will for the first time after a loved one passes away and discovers some discrepancies in the language used. This can create confusion about certain terms of the will and leave the executor or personal representative wondering how to proceed with estate administration.

October 28, 2020

How to Determine if You Can Claim an Elderly Loved One as a Dependent on Your Income Tax Return

Many family caregivers approach their tax planning and wonder if they are able to claim a care recipient as a dependent to lower their income tax bill. There are certain basic criteria that the taxpayer must meet in order to claim this deduction:

October 26, 2020

Paying for Long-Term Care by Converting Life Insurance

Many people who own a life insurance policy are not familiar with the process that allows you to convert that policy into a long-term care benefit plan. This conversion process transfers ownership of the life insurance policy from the owner to an entity that acts as a benefits administrator.

October 23, 2020

We are a local Estate Planning firm helping Maryland families plan ahead before a crisis happens. Creating Wills and Trusts by learning your unique story. A sound Estate Plan helps to protect and preserve assets during disability, incapacity, and at death. It may also minimize tax exposure and encourages families to plan inheritance during life and outside of the courts.

Office Address:

658 Kenilworth Drive, Suite 203
Towson, MD 21204

Phone: (443) 470-3599

E-mail : office@stoufferlegal.com

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