09 May

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Five Life Questions You Should Ask Your Parents Sooner Rather than Later

One of the undeniable realities of life is that it is fleeting and we are not guaranteed tomorrow. With this realization in mind, ask your parents the following five questions sooner rather than later: [mkd_unordered_list style="circle" animate="yes" font_weight="bold"] Can you write my child's name in your handwriting? Can you write a letter to my child/children discussing what you love most about them and your future hopes for them? Can you share your favorite childhood memory? Can you share your favorite memory from when I was a child? What do you want to leave to your grandchild/grandchildren and why? [/mkd_unordered_list] Five Life Questions Go Viral These five questions received national attention when Courtney Lopez Gervais, a mother in Tennessee, posted a TikTok video revealing what she wished she asked her own mother before her unexpected passing. Gervais explained that she posted the video with the hopes of inspiring others to ask their parents those five questions while they...

03 November

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Estate Tax Savings – Inflation’s Golden Lining?

Posted by Bobby Feisee

in Bobby's Blog

The inflation rate in the United States hit 8.2 percent year over year in the month of September meaning it is at a multi-decade high, according to NBC News. The spike in inflation has caused pain for many Americans due to the increase in food prices, housing prices, and medical care. However, there may be a golden lining to the ever-increasing inflation rate - reduced estate taxes. Reports indicate inflation could actually help save high-net-worth individuals close to $700,000 by reducing the estate tax bill that’s imposed on their assets when they pass on. How Inflation Impacts Estate Taxes Many people do not know that the estate tax is indexed to consumer costs. Since prices for food, clothing, housing, etc. have increased due to inflation, an adjustment will be made to the amount exempted from estate tax liability. Analysts predict the total amount couples will be able to shield from the estate tax...

01 November

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Does Virginia Recognize Wills from Another State? Ashburn Estate Planning Lawyer Provides the Answer

Posted by Bobby Feisee

in Bobby's Blog

[vc_row triangle_shape="no"][vc_column][vc_column_text] According to migration data tracked by the U.S. Census Bureau, more than 264,000 people relocated to the Commonwealth of Virginia from another state in recent years. This likely means thousands of people who drafted a Will in another state will need to get the answer to an important question: Does Virginia recognize a Will drafted and notarized in a different state? Here is the answer: A Last Will and Testament created and effectuated in a different state will generally be considered valid in Virginia if it meets the legal requirements. Requirements to Create Legally Enforceable Will in Virginia If you do not have a Will and recently relocated to Virginia, now is the time to take action and create a Will (or other estate planning instrument, such as a trust). In order to properly create a Will in Virginia, there are specific statutory requirements that must be met, including: You must be...

08 September

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Battle for Baltimore’s Professional Baseball Future Will Be Determined by Estate Planning

Posted by Bobby Feisee

in Bobby's Blog

Whether the Orioles professional baseball franchise is going to remain in Baltimore, Maryland is now an open question in the wake of lawsuit filed by Louis “Lou” Angelos (son of beloved team owner Peter Angelos) against his mother and brother. Lou Angelos filed his complaint with a Baltimore County court on June 9, 2022 demanding recent amendments to a family trust be voided. In addition, the complaint demand that his aforementioned brother, John Angelos (current CEO of the Orioles) be held liable for fraud and intentionally interfering with Lou Angelos’ inheritance. Proverbial Dirty Laundry Aired in Public When an estate-related dispute arises and is allowed to escalate to litigation, the damage inflicted on the relationships of the surviving family members can be severe and even irrevocable. Unfortunately, the Angelos’ estate feud appears to be a prime example, particularly in light of the allegations levied by Lou Angelos against his mother and brother. For example, Lou Angelos...

22 February

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Bobby Featured in Law Technology Today

Posted by Bobby Feisee

in News, News at the Firm

Bobby was quoted in Law Technology Today magazine discussing a book he co-authored with David Ginsberg titled, "How Successful Law Firms Really Work." Bobby was asked about what motivated him and his co-author to write this book. Bobby stated that the goal was to help attorneys develop and implement processes to run a successful law firm. The book addresses everything from technology to office décor. Our goal was to demystify owning and operating a law firm – the business side of the firm – and to provide a practical and easy to follow roadmap to create a business plan. Read the full interview here. ...

15 January

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Bobby Feisee Publishes Law Practice Management Book

Posted by Bobby Feisee

in News, News at the Firm

Bobby Feisee, in collaboration with fellow attorney David Ginsberg, published How Successful Law Firms Really Work through the American Bar Association. This in-depth book is designed to assist attorneys at all levels of law firm management create and implement business strategies. Each chapter provides an easy-to-follow overview of a key aspect of law practice management, with actionable guidance for a variety of situations and contexts. Get a Copy of Bobby's Book Here ...

18 January

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Understanding the Shocking Link Between Sleep Problems and Dementia

Posted by Bobby Feisee

in Bobby's Blog

The Institute for Dementia Research & Prevention reports that approximately 1-in-10 men and 1-in-6 women will likely be diagnosed with symptoms of dementia after they reach the age of 55. The most common form of dementia is Alzheimer’s disease. In fact, more than 60 percent of dementia patients are subsequently diagnosed with Alzheimer’s disease. What Exactly is Dementia? Dementia is a fairly broad term that includes a number of pathophysiological conditions. For example, the most common form of dementia is Alzheimer’s disease. Nevertheless, forms of dementia include Parkinson’s disease, Shy-Drager syndrome, Huntington’s disease, and Creutzfeldt-Jakob disease. The Connection Between Sleep Disorders and Dementia The link between sleep issues and dementia share the same conundrum as the chicken and the egg – do people with dementia simply have sleep problems, or do sleep problems contribute to the development of dementia? The definitive answer remains unknown, but is the subject of multiple studies. Check out this NBC...

16 August

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Multiple States Reducing Estate Tax Threat for Families and Businesses

Posted by Bobby Feisee

in Bobby's Blog

Since 2014, approximately nine states have eliminated or lowered their estate taxes. This was accomplished primarily by modifying and increasing specific exemptions thereby reducing the number of households that could be hit with a large estate tax bill. For example, Maryland is planning to raise its current $3 million estate tax exemption to $4 million in 2018. The District of Columbia is ahead of the game. In 2014, D.C. passed a major tax reform deal that included increasing its estate tax exemption amount from $1 million to $2 million at the start of 2017 and to ultimately match the generous federal exemption level ($5.49 million for 2017, indexed for inflation), starting in 2018, according to Forbes. Other states are going even further. For example, New Jersey plans to eliminate its estate tax entirely, according to the Wall Street Journal. Currently, six states have repealed their estate taxes over the past 10 years, including Virginia. Why...

11 August

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Benefits of a Series LLC

Posted by Bobby Feisee

in Bobby's Blog

The Uniform Law Commission (ULC) recently approved the Uniform Limited Liability Company Protected Series Act (ULLCPSA) to help provide consistency in the language used to structure Series LLCs. This was necessary since the series LLC is a fairly new concept for structuring ownership in a business, but it appears to be gaining popularity across the country. Eight states have already enacted their own Series LLC laws. What Exactly is a Series LLC? The Series LLC is a limited liability company comprised of a master LLC and other subservient LLCs that are separate from each other to reduce liability exposure. Some people have compared the Series LLC to a corporation that owns and manages multiple subsidiaries. Each LLC has its own set of assets that are distinct from the other LLCs, while the master LLC controls all LLCs in the series. Each LLC has its own owners and is only liable for its...

15 May

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Baby on Board – Birth of New Child Spurs Estate Planning Attorney to Get His Estate in Order

Posted by Bobby Feisee

in Bobby's Blog

My wife and I celebrated the birth of our first child in March 2016 and I thought it would be a good idea to discuss how I, an estate planning attorney, would start getting my estate in order. I can tell you that having your first child is definitely a strong motivating factor to get your affairs in order. Many people in this situation are spurred by a fundamental question - who will take care of my child and my financial assets if something happens to me and/or my wife? However, that is not where I am starting. Rather, I want to start with love and I want this to be the driving force behind my estate plan. I want to make sure I capture certain memories so that I can pass them on and share them with my daughter, Nava (picture right). Why not start from the beginning? As I anticipated...