Profit Law Firm
Profit Law Firm • Estate Planning Firm Licensed in Maryland and D.C. Comprehensive estate planning covers nearly every aspect of life. It begins with protecting yourself and your personal dignity, and extends to protecting your loved ones and your hard-earned assets. Follow the links below to learn more about our Estate Planning services provided at the Profit Law Firm: Planning for Young Families As with your own personal, health care and financial decisions, would you rather select the guardians (i.e., back-up parents) yourself, or let a probate judge make the selection without your input. Only through proper legal planning can you select the guardians. Learn more about the Planning for Young Families. Asset Protection Asset protection planning involves making prudent decisions today to protect yourself, your business, and your hard-earned assets from loss due to lawsuits, creditors or bankruptcies. Find out how we can help you protect your assets today. Estate Planning Fundamentals There are many legal strategies involved in estate planning, including wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care documents. Learn more about the Estate Planning process. Medicaid Crisis Planning Finding and affording quality care on short notice can be stressful and draining. We can help you determine the best options for care and how to qualify for Medicaid to help finance them. Learn more about Medicaid Crisis Planning. Long-Term Care / Medicaid Elder law is another aspect of estate planning, focusing primarily on the needs of families and individuals as they age. Issues of aging include senior housing and home care, long-term (or nursing home) care, guardianships and health care documents, Medicare and Medicaid. Learn more about planning for Long-Term Care. Charitable Planning We encourage and assist the tradition of giving to charitable causes, including the employment of tax-advantaged strategies that maximize the value of your gift. We help clients make charitable gifts and practice good stewardship in the most tax-efficient manner. Learn more about Charitable Giving Strategies. Special Needs Planning Special Needs Estate Planning focuses on providing for the special needs of our loved ones with disabilities when we are no longer there to organize and advocate on their behalf. Parents of children with special needs must make careful estate planning choices to coordinate all of the legal, financial, and special care needs of their children – both now and in the future. Learn more about Maryland Special Needs. Estate Tax Planning Historically speaking, the federal estate tax is an excise tax levied on the transfer of a person's assets after death. In actuality, it is neither a death tax nor an inheritance tax, but more accurately a transfer tax. There are three distinct aspects to federal estate taxes that comprise what is called the Unified Transfer Tax: Estate Taxes, Gift Taxes, and Generation- Skipping Transfer Taxes. Legal planning to avoid or minimize federal estate taxes is both a prudent and an important aspect of comprehensive estate planning. Learn more about Estate Tax Planning. Business Succession Family businesses are the backbone of the American economy. From agriculture to services, technology and manufacturing, family businesses generate an estimated one-half of the U.S. Gross National Product and pay half of all wages earned in this country. Find out how we can help you preserve your family business. Premarital Planning and Prenuptial Agreements Divorce is not uncommon in today's society. If you're getting married soon, it's important to understand how to protect your family’s assets in the event of a divorce. Learn more about Premarital Planning and Prenuptial Agreements. Pet Trust A pet trust is an arrangement providing for the care and maintenance of pets in the event of your disability or death. Typically, a trustee will hold property or cash “in trust” for the benefit of your pet(s). Learn more about Pet Trusts. Blended Families Second marriages present their own issues when it comes to estate planning. You and your new partner each may have property and other assets you've brought to the relationship. At the Profit Law Firm, we can help you create a plan to fit your unique situation. Learn more about Planning for Blended Families.