In December 2017, Congress rushed to pass the Tax Cuts and Jobs Act: a 503-page document that drastically alters several of the popular tax credits and deductions around which many divorcing families structure their financial planning. This first major tax reform in decades affects taxes beginning in 2018 and will have a significant impact on […]
The Tax Cuts and Jobs Act (the “Act”), signed into law at the end of December, includes major changes to the Internal Revenue Code. The Act is the most sweeping tax legislation to be enacted in decades and affects nearly all American taxpayers. Under the Act, the federal estate, generation-skipping transfer (GST) and gift tax […]
The doubling of the federal estate tax exemption under the Tax Cuts and Jobs Act—from $5.49 million in 2017 to $11.18 million in 2018 ($11.4 million as of January 1, 2019)—has moved many wealthy Americans away from the impact of the federal estate tax. However, state estate taxes and state inheritance taxes remain a factor in estate planning for residents of […]
The District of Columbia Death with Dignity Act allows an adult D.C. resident who is terminally ill (i.e., medically confirmed to have less than six months to live) to request medication to voluntarily end his or her life. In order for a patient to participate in the Death with Dignity program, the following requirements must […]
The Maryland General Assembly recently took several actions impacting domestic relations that will increase ease, efficiency, and consistency for those navigating the family court system. Domestic Violence Orders Admissible in Maryland Divorce Suits Protective orders (a form of domestic violence order) are designed to end and prevent abuse between family or household members. Current or […]
Years ago, I described to a close friend (let’s call her Cathy) the difference between a division among descendants per stirpes and a division among the same descendants per capita at each generation. In the midst of my explanation, Cathy suddenly exclaimed, “Oh! You mean like the Packers’ tickets?” This was a Eureka! moment; yes, […]
Spousal support is an important element of many divorces. When couples have been married for a long time, have supported each other’s careers, and have made sacrifices in their own lives in order to provide that support, alimony is often essential to afford former spouses financial security as they rebuild their lives as individuals outside […]
A premarital agreement is a contract between persons intending to marry. It determines spousal rights when the marriage ends by death or dissolution. All states enforce properly made premarital agreements. However, laws governing validity vary among the states. What if a couple signs a premarital agreement in Virginia and later moves to Maryland? Will a […]
