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What Is a Testamentary Trust and Its Benefits?

A Maryland testamentary trust is any trust formed based upon terms contained in the settlor’s last will and testament.  A testamentary trust is neither formed nor funded until death and does not exist for legal and tax purposes prior to that...

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Intentionally Defective Grantor Trusts

If you have assets you anticipate will increase in value, you can “freeze” the value of those assets for estate tax purposes with an Intentionally Defective Grantor Trust, an “IDGT”.  Most wonder why they...

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Registering a Trade Name in Maryland

Depending upon your business and your company’s marketing strategies, you may at some time consider operating under a new or second name.  In such cases, you should consider using a registered trade name for your business. Since businesses...

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How Long Should You Keep Tax Records?

A common question for Maryland tax attorneys is, “How long should I keep my tax returns?”  Some do not expect or what to hear my answer. While many tax professionals, even the IRS, suggest it's safe to discard tax documents 3 to 6 years after...

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