Frank, Frank & Scherr, LLCElder Law, Estate Planning & Special Needs Planning2026-08-29T16:24:29Zhttps://www.frankelderlaw.com/feed/atom/WordPress/wp-content/uploads/sites/1601048/2020/07/cropped-Favicon-32x32.pngOn Behalf of Frank, Frank & Scherr, LLC<![CDATA[2 areas to consider when estate planning for digital assets]]>https://www.frankelderlaw.com/?p=476132026-08-29T16:24:29Z2026-08-29T16:24:29ZEstate planning for digital assets can become complicated. As these assets become more common for Americans, it is important to know how they work and if there are any special considerations.
For example, cryptocurrency can be a very valuable digital asset. This is an online currency, but people will often invest in it using USD, and it can gain significant value.You can often include a cryptocurrency account in your estate plan. This can leave a significant amount of wealth to your beneficiaries.However, be sure that you also leave them the correct login information so that they can access the digital wallet and obtain the funds. If you do not do so, even if the wallet is technically left in their possession, they may not be able to spend the cryptocurrency or remove the same value in USD. This is much different than simply leaving someone access to a bank account, which you could do through a payable-on-death account or by giving access to the estate executor.
Some assets cannot be included
Another thing to consider is that certain digital products cannot be included in your estate plan to begin with.For instance, many people who purchase digital products like movies are actually just purchasing a license. They do not own the movie itself, at least not in the same way that you would own a DVD or a VHS cassette. When a person passes away, the license to that content expires. A collection of digital movies, video games or music may have cost a significant amount of money upfront, but those assets cannot necessarily be left to the next generation.Exactly what steps you will need to take as you make your estate plan depend on the digital assets that you own and your goals for them in that plan, but just be sure you understand the complexities of the situation and the legal options you have.
]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[Can you delay when someone gets an inheritance?]]>https://www.frankelderlaw.com/?p=476102026-08-14T13:10:22Z2026-08-14T13:10:22ZYes, it is possible to delay when someone receives an inheritance. But you likely need to take steps to do this well in advance.
After all, most people can directly inherit assets as soon as they turn 18 and become legal adults. If you leave $100,000 to a grandchild who turns 18 before you pass away, they are going to get the full amount as soon as your will goes through probate. Your estate plan simply specifies who should receive the funds, and the estate executor will ensure that they do.However, you may think that they do not need to have that much money at 18 and that it would be best for them to get access to the funds at a later date. To do this, you generally need to set up a trust.
Specifying certain ages for distribution
A trust does not necessarily have to be complicated. The benefit is just that the trust owns the assets, so you can set up certain rules for how long they should be held before the beneficiary is allowed to access them.You may even want to pick specific ages. For instance, you could put the money into a trust and state that the beneficiary gets the first $25,000 when they turn 21. At 25, they get another $25,000. Only when they turn 30 do they get access to the final $50,000.By doing this, you help to spread the money out so that they can use it later in their life. This may also give you confidence that they will make better decisions with the money at 30 years old than they would have at 18 years old.
Creating a trust
This is just one of the ways that a trust can give you some control over your estate plan. Make sure you know what legal steps to take to set up a trust that focuses on your family’s needs.
]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[Estate tax vs inheritance tax: What’s the difference?]]>https://www.frankelderlaw.com/?p=476082026-08-06T14:33:22Z2026-08-12T14:15:50ZHow does the estate tax work?
The estate tax generally applies only if the estate exceeds Maryland's estate tax exemption amount. Maryland establishes this threshold for estates valued at $5 million or more. If your total assets fall below this specified amount, your estate will not owe this particular tax.
Your estate pays the Maryland estate tax before your heirs receive their assets, but the first $5 million is exempt. The state uses progressive tax rates up to a maximum of 16%. Maryland calculates the estate tax using a credit-based system tied to historical state death tax credits.
Who pays the inheritance tax?
While the estate tax looks at the estate’s total value, the inheritance tax is based on who receives your assets. Maryland applies the inheritance tax to certain people who receive property from you.
The following is a list of people who are exempt from the tax:
A surviving spouse or domestic partner
Your children and stepchildren
Your grandchildren
Any surviving parents
Your siblings
Under Maryland law, they are commonly called “exempt beneficiaries.” Maryland charges a flat 10% inheritance tax on assets passing to non-exempt beneficiaries.
Does “double taxation” happen?
Your estate can meet the criteria for both taxes. For example, your estate may be large enough to owe the estate tax, and some beneficiaries are not exempt from the inheritance tax.
Fortunately, Maryland law (specifically Md. Code Ann., Tax-Gen. § 7-304) prevents true double taxation. Any inheritance tax paid typically acts as a credit against the Maryland estate tax owed, reducing the overall estate tax burden.
Keep this in mind, as both taxes can significantly reduce the inheritance you intended for your loved ones.
Practical strategies
Planning can help minimize the impact of these taxes on your heirs. Consider financial and legal tools such as revocable living trusts, lifetime gifting strategies or spousal portability. You may want to consult a legal adviser to learn strategies for reducing your tax liability.]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[Aging on your own? Planning is especially important]]>https://www.frankelderlaw.com/?p=476072026-08-04T23:11:27Z2026-08-04T23:11:27ZKey decision-making documents
It is essential to have clear guidance in place long before a crisis occurs. Here are three critical documents to consider:
A financial power of attorney (POA) authorizes someone to manage your accounts if incapacity occurs.
A medical POA gives someone the ability to make treatment decisions when needed.
An advance directive records personal preferences for medical care and end-of-life choices.
Together, these tools help safeguard your assets and health care preferences. Updates as needed can help ensure they always reflect your current circumstances.
Planning for long-term care needs
Many solo agers prefer to remain at home as long as possible, making long-term care planning essential. Maryland offers a number of home and community-based services (HCBS) programs that support daily living and help prevent nursing home placement. Since each program has specific eligibility rules, a thorough review of your situation can help you determine which options fit your needs and goals.
Building a reliable support network
A dependable support network can make a positive difference for those aging without immediate family. Many people choose trusted friends, relatives or community members to assist with important tasks. An experienced legal representative can fill a crucial role in your support team by helping ensure that your affairs remain in order throughout the aging process.]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[What is an executor of the estate?]]>https://www.frankelderlaw.com/?p=476062026-07-22T07:03:41Z2026-07-22T07:03:41ZYou may be asked who you want as your executor when drafting an estate plan. Simply put, an executor is responsible for managing your assets after you pass away.
The role of executor is not a simple job that should be taken lightly. It can help to understand what an executor does before choosing one for your estate plan. Here is what you should know:
What are the responsibilities of the executor?
As mentioned above, an executor’s role is to manage your assets according to your last wishes. However, this does not mean your loved ones will inherit your assets immediately after you pass away. The executor must collect death certificates and file your will to probate court to initiate the probate process.During the probate process, the executor is responsible for resolving any unpaid debts and taxes. Then they can reach out to beneficiaries who may be entitled to a part of your estate. The probate process can take months once it begins and resolves when the last of your estate is distributed.
Who should be the executor of your estate?
An executor can be a spouse, child, loved one or friend. This does not mean your executor should be the first person that comes to mind. An executor often needs to have the skills and understanding to manage a large estate. Executing an estate also involves a large time commitment. You can consider someone you trust and who knows how you want your estate to be managed. Before picking an executor of the estate, you may need to reach out to professional legal guidance to learn more.]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[How is a living will different from a power of attorney?]]>https://www.frankelderlaw.com/?p=476032026-07-15T14:29:40Z2026-07-15T14:29:40ZBoth living wills and powers of attorney can be used when creating an estate plan. Often, these are both set up to address future medical decisions.
Though similar in focus, these documents both approach the issue much differently. With a living will, the goal is typically to make decisions in advance. For instance, if you suffer a stroke and are being kept on life support, do you want that medical assistance to continue, or would you prefer not to be kept on life support at all?If you have a preference one way or the other, you can list that instruction in your living will. This is a legally binding document as part of your estate plan, so it provides guidance not only to the medical team that is treating you, but also to your family members. It lets them know what type of care you would have preferred.
A power of attorney
With a power of attorney, the focus is on choosing an agent. If you are incapacitated, such as if you have a stroke and cannot communicate your wishes to your doctors, then the agent gains the ability to make medical decisions on your behalf.This does not necessarily mean that you have given that agent specific instructions. Instead, you simply trust them to consider the realities of the situation, talk to your medical team, speak with your family and make appropriate decisions that are in your best interests.Both of these documents can certainly be helpful, and it is important to consider your medical future when creating an estate plan. Take the time to carefully consider all of the legal options at your disposal.]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[What duty of care does a guardian owe an adult ward?]]>https://www.frankelderlaw.com/?p=476022026-06-30T13:15:26Z2026-06-30T13:15:26ZPeople experiencing cognitive decline, dealing with dementia, diagnosed with serious brain injuries or struggling to manage significant mental health challenges may not be able to handle their own affairs.
While it is often a last option after exhausting other alternatives, the courts in Maryland can appoint a guardian to oversee the finances, medical care and daily life of an incapacitated adult. What responsibility does a guardian have to the alleged disabled people or wards in their care?
Guardians have a fiduciary duty
Guardians hold many of the same forms of authority as parents maintain over children. They have the right to make decisions about day-to-day life and healthcare. They manage resources and financial obligations on behalf of the allegedly disabled person in their care.That degree of authority is easy for people to misuse. Therefore, the stateimposes the highest standard of duty on the guardian. Guardians have a fiduciary duty to the person in need of support.They must consistently put the best interests of the alleged disabled person ahead of their own wishes when making decisions about their life and finances. The failure to uphold that duty can result in the courts transferring authority to someone else or holding a guardian responsible for the practical consequences of their failure.Understanding the obligations imposed on guardians is important for not only those seeking guardianship authority but also those concerned about the well-being of a loved one who is subject to a guardianship. Conversations with legal professionals can help peopleunderstand adult guardianship, protect their authority or take action when a guardian does not fulfill their obligations.]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[Leaving an inheritance to a beneficiary with special needs]]>https://www.frankelderlaw.com/?p=476002026-06-18T15:46:40Z2026-06-18T15:46:40ZIf you have a family member with special needs, you may certainly want to include them when you make your estate plan. You may know that they have a limited income, for example, or none at all. Leaving them an inheritance can be life-changing. The money may mean more to them than to another beneficiary, who has their own source of income and a lower level of need.
In this situation, it is important to plan ahead carefully. Though the money can really help your chosen beneficiary, there can be some complications, depending on how you leave them the inheritance.
Maintaining access to benefits
One key detail to consider is whether the person with special needs receives government benefits. They may have applied for certain benefits to help them with necessities like medical care or housing. They rely on having access to these benefits on a consistent basis.But if those benefits were only granted after they passed a means test, their own net worth plays a significant role. If you leave them an inheritance, you could accidentally disqualify them. They will lose their benefits until they spend the inheritance, and then they will have to reapply.You can often get around this issue by simply putting the money into a special needs trust. You still name them as the beneficiary, but the trust owns the assets instead of the individual, so they will not be disqualified from the benefits package that they already receive.Of course, every situation is unique, but this helps to demonstrate why you need to carefully look into all of your legal options when setting up an estate plan.
]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[Too rich for Medicaid, too poor to afford nursing home care]]>https://www.frankelderlaw.com/?p=475982026-06-15T15:36:39Z2026-06-15T15:36:39ZWhy so many families feel stuck
When a parent needs long-term care, the financial questions can feel overwhelming. You may discover that paying for care could strain your parent's savings, but Medicaid may not be available right away. Several realities can leave you feeling caught in the middle:
Facing nursing home bills that can reach thousands of dollars each month
Realizing that your parent's savings may not last for several years of care
Learning that certain assets can affect Medicaid eligibility
Worrying about how care expenses could affect your family's finances
Feeling pressure to help protect money your parent spent years saving
These concerns can create tremendous stress. Even families that planned carefully can find themselves in a position where the cost of care seems impossible to manage.
Being over Medicaid's limits is not the end of the story
Medicaid eligibility depends on several factors, including income, assets and personal circumstances. Your parent does not automatically qualify because they need nursing home care, and having assets above Medicaid's limits does not automatically answer the question of how care will be paid for.
The type of assets your parent owns can affect how Medicaid rules apply to their situation. Because eligibility rules can vary based on individual circumstances, families with similar savings may still face different outcomes.
Looking at the bigger picture
Your parent may have prepared carefully for retirement and still face challenges paying for long-term care. Many middle-class families discover that the cost of extended care can exceed what they realistically planned to spend.
This difficult middle ground exists because the cost of care can outpace what many families can afford, while Medicaid eligibility depends on financial rules that do not always match a family's practical circumstances. As a result, questions about long-term care frequently involve more considerations than simply whether a person has too much money for Medicaid.]]>On Behalf of Frank, Frank & Scherr, LLC<![CDATA[Who is a surrogate decision maker for medical care in Maryland?]]>https://www.frankelderlaw.com/?p=475972026-06-10T18:50:31Z2026-06-10T18:50:31ZIf your loved one cannot make medical decisions on their own and has not named a health care agent, Maryland law may allow another person to step in. A surrogate decision maker in Maryland can make certain treatment choices when no advance directive controls the situation.
Under Maryland elder law, a surrogate should follow the patient's known wishes whenever possible. If those wishes are unknown, decisions should reflect the patient's best interests, values and personal beliefs.
An adult child familiar with the patient's wishes and values
A parent who can help protect the patient's best interests
An adult sibling involved in the patient's care or well-being
A close friend or relative with regular contact and personal knowledge
Not everyone may qualify for this role. A person subject to a protective order involving the patient may be prevented from acting as a surrogate decision maker. A spouse may also lose eligibility if the couple has entered a separation agreement or divorce proceedings have started.A surrogate decision maker in Maryland should follow the patient's known wishes whenever possible. Medical decisions may take into account the person's beliefs, values, past choices and likely preferences. If those wishes cannot be determined, decisions should focus on the patient's best interests and overall well-being.Maryland elder law also places limits on a surrogate's authority. Certain medical decisions cannot be authorized through this process, and treatment choices should not be based solely on a person's long-term disability or financial circumstances. The patient should also be informed of proposed treatment and the surrogate's role whenever possible.Medical emergencies and serious illnesses can create uncertainty for families. Understanding how a surrogate decision maker in Maryland is selected and what responsibilities come with that role may help you prepare for unexpected situations. Maryland elder law offers important protections for patients and their families when advance planning documents are not available. Seeking legal guidance may help you understand your options and responsibilities.]]>