03 November

Sticky

Estate Tax Savings – Inflation’s Golden Lining?

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...

08 September

0 Comments

Sticky

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...

14 April

0 Comments

Sticky

Which Trust is Best for Leaving a Portion of Your Estate to a Charity?

Posted by Bobby Feisee

in Bobby's Blog

When planning your estate, you may want to leave some money to a charity you support. If you are charitably inclined, there are two types of trusts you should consider utilizing to protect yourself from excessive taxation and maintaining the value of your future charitable donation. The two trust options include (i) the charitable lead trust and (ii) the charitable remainder trust. What is a Charitable Lead Trust? Compared to a charitable remainder trust, the roles are basically reversed when you set up a charitable lead trust. The charitable beneficiary will receive annual payments from the trust at the beginning of the...

02 November

0 Comments

Sticky

You Were Named the Executor or Administrator of an Estate – What To Expect

Posted by Bobby Feisee

in Bobby's Blog, News

When someone is designated as a personal representative for an estate, their mind is often inundated with questions and concerns about what they are legally obligated to do. In many instances, personal representatives are named an Executor/Executrix or an Administrator/Administratrix. Similarities and Differences between an Administrator and an Executor You may be wondering, "What is different from being named an Administrator versus an Executor?" Well, an Administrator is the individual appointed by a court to oversee an estate when someone passes away without a Last Will and Testament. In contrast, an Executor is the individual named by a decedent in their estate...

28 August

0 Comments

Sticky

Advice on How to Plan Your Estate in the Midst of the Coronavirus Pandemic

Posted by Bobby Feisee

in Bobby's Blog, News

The Coronavirus Pandemic has placed the fragility of life front and center for many people. It is a harsh reminder that each day is a gift and an unexpected event can limit the days we have on this Earth. A byproduct of this realization is that many Americans are taking steps to plan their estates. However, jumping headfirst into estate planning can be rather intimidating. You have to make important decisions about whether to create a will, a trust (or trusts), power of attorney for handling financial matters, power of attorney for medical decisions, and so forth. If you are interested...

29 May

0 Comments

Sticky

Coronavirus Pandemic Highlights the Importance of Clear Health Care Directives

Posted by Bobby Feisee

in Bobby's Blog, News

CNN published a heart wrenching article by Louis Foglia that detailed his father's last days and tragic passing as a result of COVID-19. Foglia's article provided an immersive experience into the intense stress, anxiety and uncertainty that accompanies having a loved one in the hospital struggling to stay alive due to the Coronavirus. Foglia's father battled the Coronavirus for 31 days but ultimately succumbed to the deadly virus. I strongly encourage you to take the time to read Foglia's article from start to finish. It both encapsulates the life and memory of his father while also highlighting the immense importance of certain...

09 April

0 Comments

Sticky

Do You Need to Amend Your Advance Medical Directive Due to the Coronavirus?

Posted by Bobby Feisee

in Bobby's Blog, News

One of my clients recently asked an important question about advance medical directives and whether amending this important legal and medical document is warranted in response to the Coronavirus pandemic. For context, my client has an advance medical directive stating that they do not want to be put on a ventilator. However, my client expressed a desire to be placed on a ventilator if they are infected with COVID-19. This prompted my client to ask – is it necessary to amend my advance medical directive in light of different treatment wishes for the Coronavirus? Answer: it is not necessary to amend an...

31 January

0 Comments

Sticky

Your Estate Plan Could Help Grow – or Ruin – Your Family Fortune

Posted by Bobby Feisee

in Bobby's Blog

Most Americans have heard the names “Rockefeller” and “Vanderbilt.” The two families are firmly embedded in American culture through academia (e.g., Vanderbilt University), real estate (e.g., Rockefeller Plaza), charitable organizations, politics, etc. The progenitors of these now-iconic names were John D. Rockefeller and Cornelius Vanderbilt. Both men enjoyed incredible success in different areas of the business world which resulted in substantial fortunes. Both men left vast sums of money to their loved ones. However, the ways in which their fortunes were distributed between descendants varied greatly, which led to two completely different outcomes that highlight just how important proper estate...

23 July

0 Comments

Sticky

Is Your Estate Plan Up To Date?

Posted by Bobby Feisee

in News at the Firm

One of the unique services provided by InSight Law to all clients is a periodic review and update to your estate planning documents. We believe routinely reviewing and updating, as needed, these documents is extremely important to ensure they are correct, current, and legally valid. This is why InSight Law created the "Client Update" program. It is a formal review process to ensure your estate plan is current with the latest laws and estate planning techniques. InSight clients can have their documents reviewed and renewed every two years. If you are due to an estate plan update, make sure to...

17 May

0 Comments

Sticky

Time to Re-Brand “Do Not Resuscitate”

Posted by Bobby Feisee

in Bobby's Blog, News

Stories of hospitals being subjected to civil litigation for failing to intervene or, alternately, for wrongfully intervening to resuscitate a patient using advanced life support are quite common. These unfortunate incidents typically have at their core three central figures: A dying patient; The dying patient’s family; and A healthcare professional who misunderstands the meaning of the term: “do not resuscitate.” What Does “Do Not Resuscitate” Actually Mean? The term “Do Not Resuscitate” (also referred to by its acronym DNR) means that a patient should not receive cardiopulmonary resuscitation (CPR) in the event of cardiopulmonary arrest. This is a situation where the patient...