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Estate Planning

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BUSINESS
By Liz Pulliam Weston and Liz Pulliam Weston,SPECIAL TO THE SUN | July 28, 2002
I'm having difficulty finding a good accountant or financial planner. I've handled most of my mother's affairs for the last 10 years, but I'm concerned I may be making mistakes without knowing it. Considering my mother's age and infirmity, I am reluctant to make drastic changes in her finances on the recommendations of a planner or accountant whom I don't really trust. I'm not comfortable using the Yellow Pages or relying on word of mouth. How do I know the people giving recommendations know any more than I do?
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NEWS
By Frederick N. Rasmussen, The Baltimore Sun | May 21, 2014
Thomas D. Washburne Sr., a partner in the Baltimore law firm of Ober/Kaler whose specialty was estate planning, died Tuesday of an unknown neurological disorder at Johns Hopkins Hospital. He was 86. The son of Hempstead Washburne, a lawyer, and Mary Dennehy Washburne, a homemaker, Thomas Dennehy Washburne was born and raised in Lake Forest, Ill. After graduating in 1945 from the Taft School in Watertown, Conn., he earned a bachelor's degree in 1949 from Princeton University. In 1952, he earned his law degree from the University of Virginia and came to Baltimore to clerk for Judge William C. Coleman, chief judge of the U.S. District Court.
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BUSINESS
By Knight-Ridder News Service | November 7, 1993
What comes to mind when you hear the phrase "estate planning?"For some, those words conjure up images of super-rich families with complex financial agreements. In reality, estate planning is much more basic.If you have assets -- cash, cars, homes, investments, jewelry, etc. -- you also have an estate. So estate planning is simply a process for building and preserving those assets during your lifetime, and it provides for an orderly transfer after your death.Without such a plan, it's nearly impossible to establish a long-term financial strategy -- one that would protect family and loved ones after you die.Estate planning involves three basic steps, says the Washington-based American Association of Retired Persons:* List all assets and liabilities.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | February 25, 2014
Charles M. Cahn Jr., a retired Baltimore attorney who was the managing partner of Blades & Rosenfeld, died Feb. 10 of heart failure at Roland Park Place. He was 92. The son of Charles M. Cahn, an insurance executive, and Fannie Rosenbacher Cahn, a homemaker, Charles Maurice Cahn Jr. was born in Baltimore and raised in the Arlington Park Apartments in Northwest Baltimore. He was the grandson of Maurice U. Cahn, founder of the old Bernheim-Leader department store in Baltimore, and the great-nephew of Bernard Cahn, one of the founders of Mercantile Bank and Trust Co. After graduating in 1939 from Friends School, Mr. Cahn earned a bachelor's degree in 1943 from Dartmouth College, where he was a member of Phi Beta Kappa.
BUSINESS
By EILEEN AMBROSE | October 27, 2002
A COLLEGE savings plan has become a popular way to save for education. Now it's also being promoted for estate planning. While some of the plan's features make it an attractive estate planning tool, financial experts advise people to proceed with caution. "Would you do it in every situation? No," said Philip Hayne, an estate planning expert with Principal Financial Group in Des Moines, Iowa. "You have to look at what other options are out there and just try to figure out what makes the most sense."
NEWS
By Andrew A. Green and Andrew A. Green,SUN STAFF | November 2, 2002
Thomas J. McLaughlin, the Harford County attorney accused of collecting more than $200,000 in fees for work he never performed, was disbarred yesterday in an order by the Maryland Court of Appeals. McLaughlin specialized in estate planning for elderly clients who were living in or about to enter nursing homes. He charged tens of thousands of dollars to prepare plans so that his clients could become eligible for Medicaid and keep their assets intact to spend on care or pass on to their heirs.
BUSINESS
By Adele Evans and Adele Evans,SPECIAL TO THE SUN | February 18, 1996
Attorney H. Mark Bobotek can tell more horror stories than H. P. Lovecraft -- when it comes to estate planning, that is.Take one Frederick County couple he's advising. The wife's mother put her house in the wife's name, thinking she'd bebetter assured of Medicaid benefits. Later, the couple bought a restaurant in Ocean City. It failed and they wound up owing $50,000."Guess where the money comes from? The mother's house," Mr. Bobotek said. "But Mom still lives in it. Mom will be evicted to pay the creditors.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | December 7, 2010
The brother of Under Armour founder Kevin Plank will sell 400,000 Class A shares in a pre-arranged trading plan. J. Scott Plank, who is also executive vice president at Under Armour, entered into the agreement Nov. 30, but the company disclosed it in a regulatory filing this week. Plank will sell up to 375,000 shares of his personal stock and 25,000 shares of the stock for his charitable foundation. He owns 2.5 million total shares and will own about 4.3 percent of the all the company shares once the sale is complete.
BUSINESS
By EILEEN AMBROSE | July 12, 2009
Despite the high drama over Michael Jackson's estate, the late pop singer did many things right when it came to end-of-life planning. The big thing is that the 50-year-old had a will - critical to anyone with young children. Jackson's will named business associates as executors to carry out his wishes and designated guardians for his three young children. He also set up a family trust that can keep the division of his estate out of the public eye. More people could learn from him. Too often people don't get around to making a will.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 5, 2012
Same-sex marriage, signed into law Thursday in Maryland, will bring significant changes to gay and lesbian couples here. But to their personal finances, maybe not so much. "They are not going to see a huge immediate change in finances," says Mark Scurti, a Towson lawyer who specializes in counseling same-sex couples. The big difference, he says, will be in estate planning and the elimination of a hefty inheritance tax. But those are state issues. The federal government doesn't recognize same-sex marriage, so these couples won't enjoy many of the benefits of straight couples.
NEWS
January 19, 2014
As a financial adviser for 35 years, I take issue with your editorial advising against reducing Maryland's estate tax ("Settling the estate tax," Jan. 17). Through the years, I have seen more and more of my clients take residence in Florida or other states with no such tax, and these are precisely the people one would want to keep in Maryland. They pay more than their share of income, sales and other taxes when residing here, versus nothing when elsewhere. The Sun suggests doing some estate planning, which is expensive and unnecessary.
NEWS
January 16, 2014
Last week, the two top leaders of the Maryland General Assembly expressed interest in reducing the estate tax for the heirs of wealthier residents. It's an idea that's been trotted out before, usually by Republicans, and it seldom gets very far in Annapolis. But this year appears to be different. House Speaker Michael E. Busch and Senate President Thomas V. Mike Miller have endorsed a plan to gradually increase how much of a deceased person's estate can be shielded from Maryland's estate tax from $1 million to $5.25 million.
NEWS
By Rebecca LeFever | March 15, 2012
March 15--YORK, Pa. -- Each candidate running for the District 31 state senate seat in the April 24 primary has big plans if they make it to November's election. This district covers all of Cumberland County; and in York County -- Carroll, Fairview, Franklin, Monaghan, Warrington and Washington townships; and Dillsburg, Franklintown and Wellsville boroughs. Experience Attorney Andrew Shaw, 36, of North Middleton believes his experience as a small business owner has helped him prepare for his campaign.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 5, 2012
Same-sex marriage, signed into law Thursday in Maryland, will bring significant changes to gay and lesbian couples here. But to their personal finances, maybe not so much. "They are not going to see a huge immediate change in finances," says Mark Scurti, a Towson lawyer who specializes in counseling same-sex couples. The big difference, he says, will be in estate planning and the elimination of a hefty inheritance tax. But those are state issues. The federal government doesn't recognize same-sex marriage, so these couples won't enjoy many of the benefits of straight couples.
EXPLORE
February 27, 2012
The first of the Harford County Department of Community Services new Speaker Series will be held Wednesday, Feb. 29 from 7 to 8 p.m. at the Veronica "Roni" Chenowith Activity Center, 1707 Fallston Road in Fallston. The seminar will feature Lindsay Harrell, a lawyer with Hargrove Madden LLP, whose practice is focused on estate planning, including wills and trusts, estate and gift taxation, asset protection, and planning for pets. Estate planning is the process of anticipating and arranging for the distribution/disposal of an estate, or the net worth of a person at any point in time.
EXPLORE
October 26, 2011
Judith Claibourne Ensor, associate judge for the Circuit Court for Baltimore County, has been elected president of the Board of Trustees of St. Paul's School for Girls. Ensor will oversee the governance of SPSG and lead the school's strategic planning efforts. An alumna of the school, she has been a supporter since graduating in 1979. "I am tremendously thankful for the incredible education I received at St. Paul's School for Girls," she said. "To this day I credit SPSG not only with completely preparing me for college and law school, but with helping me to develop important practical life skills as well as a life-long love of learning.
NEWS
By Julie Bell and Julie Bell,SUN STAFF | October 8, 2000
Estate planning isn't just for the super rich, and your assets may add up to more than you think. So say financial planners and estate lawyers, who warn that a common mistake people make is to presume that they aren't worth enough to worry about estate taxes. This year and next, individuals can leave up to $675,000 in assets, free of federal estate taxes, to heirs. That exempt amount will continue to grow and is scheduled to be $700,000 in 2002 and $1 million in 2006. But Michael C. Hodes, an estate lawyer at Hodes, Ulman, Pessin & Katz P.A. in Towson, points out that limit might be easier to reach than you think.
BUSINESS
By Gregory Karp and Gregory Karp,The Morning Call | July 27, 2008
Among the most fundamental of money tasks is creating a will, yet nearly six in 10 adults don't have one, according to a recent survey by FindLaw.com, a legal information Web site. It's a shame to spend money wisely during your lifetime and then lose control afterward, as state law and probate court decide how to divvy up all you own and siphon money from your estate in the form of fees and taxes you might not otherwise have incurred. And for parents with minor children, not having a will means the state will decide who raises your children if you and your spouse die. Wills aren't only for rich people.
BUSINESS
Eileen Ambrose | October 14, 2011
How many times have you wished there was a knowledgeable person who could answer your specific financial question? You might end up asking a relative, friend or neighbor, but you risk that they don't know the answer, either, and steer you wrong. Well, on Oct. 29th, you can meet with a financial professional - for free. It's part of Financial Planning Days, an event scheduled in dozens of cities and trying to reach consumers who traditionally don't have access to financial advice but need it. The event will be held from 10 a.m. to 4 p.m. at Frederick Douglass Senior High School, 2301 Gwynns Falls Parkway in Baltimore.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | June 7, 2011
A newly formed real estate group plans to build a retail center on 31 acres in Canton that it bought from Exxon Mobil Corp. BCP Investors LLC, a partnership that includes principals from Chesapeake Real Estate Group and Birchwood Capital Partners, plans to break ground on the two-phase project next year. The parcel fronts Boston Street and borders Baylis and South Haven streets. It is adjacent to the First Mariner Tower and the Merritt Athletic Club. The site has been used as an oil terminal since the 1890s.
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