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Estate taxes

Friday, July 13, 2018

Estate Tax Planning in Howard County: How to Protect Your Assets

Are you in need of professional litigation advice on estate tax planning in Howard County? The law offices of Rick Todd provide you with the most recent and updated laws on estate tax planning in Howard County. According to the 2018 federal estate tax, exemptions now favor wealthy individuals with over $11 million in assets. For instance, their tax exemption for estate, gift, and generation-skipping taxes is now $10 million. Moreover, the laws protect the assets transferred as a gift at death from taxes.

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Wednesday, February 7, 2018

Estate Tax Planning for 2018


Estate tax planning has taken a turn for the better for the very wealthy – new changes signed into law regarding Estate Taxes temporarily double the exemption amount for estate, gift and generation-skipping taxes (from 5 million to 10 million). This benefits anyone with over $11 million in assets, as it protects this money from taxes when it is given as a gift or transferred at death. As it stands now, very few individuals will be subject to a federal estate tax.


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Thursday, July 14, 2016

The Difference Between Irrevocable and Revocable Trusts

You might have heard that the terms “irrevocable” and “revocable” with regard to trusts. Lawyers and people who have created an estate plan like to throw these terms around, but they are often misused by both parties. They also can be manipulated by lawyers to confuse clients into purchasing something that is expensive and unnecessary.

“Revocable” generally refers to a revocable living trust. A revocable living trust is a trust that is used to avoid probate, or at least to minimize how much of an estate is exposed to probate administration.


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Saturday, May 9, 2015

Will My Family Need to Worry About Estate Taxes When I Die?

Possibly. If you reside in Maryland when you die, your estate may have to pay both federal estate tax and Maryland estate tax. Maryland is one of the few states in the country that has an estate tax! The good news is that estate taxes are only paid by the very wealthy. The IRS estimates that less than one percent of estates annually are subject to the federal estate tax. For this year the Federal estate tax is levied against estates worth more than $5.


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The Law Offices of Rick Todd is located in Columbia, MD and Chevy Chase, MD (Friendship Heights) serve clients throughout Clarksville, Columbia, Ellicott City, Fulton, Rockville, Bethesda, Potomac, Laurel, Howard County, Montgomery County, and Washington D.C.



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