T 301.656.8850 Ext. 417
7735 Old Georgetown Road
Bethesda, MD 20814-6130
B.A., Case Western Reserve University
J.D., Georgetown University Law Center
LL.M in Taxation, Georgetown University Law Center
District of Columbia
Nancy Fax is the firm’s managing partner. She is a tax attorney who concentrates on estate planning and estate and trust administration. In addition, she works in close collaboration with the Firm’s domestic relations attorneys on premarital, post-marital and domestic partnership agreements for traditional and same-sex couples.
A recognized expert in the field of estates and trusts law, Nancy is the former author of Maryland Estate Planning and Probate Laws Annotated (2008-2014) and was the founder and editor for many years of the District of Columbia Estates, Trusts and Probate Law Digest. She is also a frequent speaker at professional and community programs on various estates and trusts topics.
Nancy is an active member of the American College of Trust and Estate Counsel (ACTEC), a highly selective national organization that brings together the top trusts and estates lawyers in the nation. In addition to being a former member of the Executive Committee of the Board of Regents of ACTEC, she is the former Chair of ACTEC’s State Laws Committee and the former State Chair for Maryland. Currently, Nancy serves on ACTEC’s Financial Management Committee, Sponsorship Advisory Committee, Long Range Planning Committee, Nominating Committee and State Laws Committee.
Nancy works closely with her clients to plan their estates in a tax-efficient manner so as to provide maximum benefits to their beneficiaries. According to the Washingtonian, which named Nancy as one of the top 30 attorneys in the metropolitan area, she “has an uncanny ability to untangle confusing technical matters. Her understanding of the law and personalized approach have made her a trusted advisor for couples and families planning their estates.”
Nancy is consistently recognized as a top estates and trusts lawyer and financial planner in lists published by the Washingtonian and Bethesda Magazine. She also regularly receives accolades from publications that rate the most well regarded estates and trusts lawyers in the D.C. area and the nation, including Super Lawyers and Best Lawyers.
Nancy also guides clients through the process of administering estates and trusts after death. With the able assistance of the firm’s estates and trusts paralegals, Nancy handles all aspects of probate, trust administration, the preparation of estate tax returns and estate tax audits.
Nancy says that the field of estates and trusts law is ideal for her because it is both extremely people-oriented and requires a high degree of technical expertise.
“I work with individuals, couples and families (including non-traditional families) and I enjoy helping them achieve their estate planning goals.” In any good estate planning practice, Nancy says, “all the parts need to be coordinated. We worry about the details here. We make sure, for example, that all assets are titled properly and that beneficiary designations on life insurance and retirement accounts are up to date and coordinated with the rest of the estate plan. And, of course, we use our deep tax expertise to effect planning that reduces the client’s exposure to estate, gift, generation-skipping transfer and income taxes. We work closely with the client’s other advisors. In this field, you need to be very aware of the client’s goals at all times and very attuned to the need to collaborate with others in the client’s best interests.”
A 1978 graduate of the Georgetown University Law Center, Nancy also earned an LL.M. in taxation from Georgetown.
The American Taxpayer Relief Act of 2012 (the “Act”), which includes a variety of changes to the Internal Revenue Code, will affect most American taxpayers. In this article, we will address the key estate tax, gift tax and generation-skipping transfer (GST) tax elements of the legislation.
Prior to passage of the Act, the federal estate tax, gift tax and GST tax laws were scheduled to change dramatically as of January 1, 2013. For example, although the gift tax exemption was $5,120,000 in 2012, it was scheduled to be reduced to $1,000,000 in 2013. The gift tax rate (for amounts above the exemption) was a flat 35% in 2012, but was scheduled to revert to a graduated tax with a top rate of 55% in 2013…. MORE >