Higher Income Taxes for High Earners Reduce Wealth for Estate Planning
- For professionals and business owners, this means less cash flow for gifting, trusts, or legacy planning.
2% Capital Gains Surtax Impacts Asset Sales for Estates and Businesses
- If you’re planning to sell property or business interests, this surtax reduces estate liquidity.
3% IT Services Sales Tax Raises Business Costs, Affecting Operations
- Businesses face higher expenses, impacting profitability and estate planning budgets.
Maryland residents have just over three months before most of the recent tax changes take effect.
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What an incredible day for Frame & Frame! We are thrilled to announce the successful Grand Opening and Ribbon Cutting ceremony for our brand-new Mount Airy office, a momentous occasion that marks an exciting new chapter for our team and the community we serve.
Document Your Wishes Clearly: Use a will or trust to specify asset distribution, and consider a Letter of Wishes for personal guidance.
Plan for Dependents: Designate guardians for children or pets to ensure their care aligns with your vision.
Incorporate Community Values: Support local causes by including charitable bequests in your plan, strengthening your community’s future.
Work with Professionals: Our team at Frame & Frame ensures your plan complies with Maryland law and meets your unique needs.
Ready to start planning?
Estate planning does not have to be an expensive or complicated process. For about the cost of a weekend getaway, most families can have the peace of mind and assurance that their needs will be handled, in the event of a crisis. Get started by downloading one of our free legal guides or scheduling a consultation.
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Guide to Estate Planning Essentials
In This Guide You’ll Learn:
– Working with an estate planner is inexpensive.
– A will is not adequate to meet all of your needs.
– Family members often do not behave amicably while sorting out your estate.
Guide to Wills, Trusts, & Probate
We Answer Common Questions Like:
– What is the difference between a will and a trust?
– What legal documents should a simple will contain?
Guide to Probate in Maryland
In This Guide You’ll Learn:
– What is the probate process in Maryland?
– Do you need probate if you have a will?
– What are considered non-probate assets?
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