BLACK LIVES MATTER

Nancy Fax named Lawyer of the Year in Trusts & Estates for DC Area for 2017

Best Lawyers named partner Nancy Fax the Trust and Estates Lawyer of the Year in DC, Maryland and Virginia. Because the publication uses peer nominations to develop its selective list, we are especially proud of this recognition. Congratulations, Nancy! Additional Pasternak & Fidis attorneys were recognized as best lawyers in Maryland in their respective fields: Jan White in Collaborative Law: […]

Estate Planning in Light of Marriage Equality

The recent Supreme Court decision in Obergefell v. Hodges makes marriage equality the rule in all U.S. jurisdictions. Couples whose marriages will now be recognized in all states should give some thought to these estate planning issues implicated by the ruling: Joint filing is available for income tax returns—not only federal returns, but also state […]

Spendthrift Trusts: Not Just for Spendthrifts

Structuring your estate plan requires you to take account of the assets that will be included in your estate, the various federal and state tax implications of transferring your assets, who will be responsible for administering your estate and the manner in which your estate will be divided among your intended beneficiaries. This article focuses […]

The New ABLE Account for Disabled Persons

The tax laws have long encouraged Americans to save for college for their kids or to save for their retirement, but for families of those with disabilities, there was no tax-advantaged way for them to save for those individuals. The recently enacted Tax Increase Prevention Act of 2014 contains an important new provision which changes […]

Love, Marriage, and Remarriage: Common Estate Planning Questions from Blended Families

Estate planning for blended families presents particular concerns. Questions about estate taxes, picking the right fiduciary, and how to best provide for loved ones are issues that all people face when preparing their estate plans. But the answers become more complicated as spouses, ex-spouses, children, and step-children become part of the picture. Here are some […]

Death and Divorce: A Lethal Legal Combination

Death and divorce—both events are extremely difficult and stressful in and of themselves. However, when death and divorce happen at roughly the same time, the consequences can be unexpected and may seem wildly unfair. Separation and divorce can have a significant impact on estate planning issues, which require diligent attention when marital issues arise.  Otherwise, […]

Tax Planning, the Federal Estate Tax and Portability

The federal estate tax is a tax imposed on the value of assets includable in a decedent’s estate. However, each person has an exemption amount. The federal estate tax exemption is the total amount a person can transfer to any benefi ciary without paying estate tax. In 2014, the federal estate tax exemption is $5.34 […]