Profit Law Firm

Profit Law Firm Practice Areas: Tax Planning, Estates and Trusts, Wills and Probates, and Elder Law. Practice Areas: Tax Planning, Estates and Trusts, Wills and Probates, Elder Law, and Family Law

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THE 2017 TAX REFORM ACT IS HERE: Learn what you must do to maximize wealth for you, your heirs & your business. Click he...
09/13/2018

THE 2017 TAX REFORM ACT IS HERE: Learn what you must do to maximize wealth for you, your heirs & your business.
Click here to register - http://events.profitlawfirm.com/
#law #tax #taxes #government #people #income #support #wealth

THE 2017 TAX REFORM ACT IS HERE: Learn what you must do to maximize wealth for you, your heirs & your business. Click he...
09/11/2018

THE 2017 TAX REFORM ACT IS HERE: Learn what you must do to maximize wealth for you, your heirs & your business.
Click here to register - http://events.profitlawfirm.com/
#law #tax #taxes #government #people #income #support #wealth

Does Your Estate Plan Have All the Right Stuff?
09/05/2018
Does Your Estate Plan Have All the Right Stuff?

Does Your Estate Plan Have All the Right Stuff?

“Many people think estate planning means deciding what happens to your things when you die. For that reason, many young families do not consider estate planning to be a priority. However, it may be one of the most important things young parents can do!” A last will and testament is...

You Never Know When You’ll Need an Advanced Directive
09/03/2018
You Never Know When You’ll Need an Advanced Directive

You Never Know When You’ll Need an Advanced Directive

“Advance care planning is making preparations and decisions about the medical care you want to receive, if you become unable to speak for yourself.” Talking with your family and your physician ahead of time about what you would want if you should become incapacitated, is a difficult but necessar...

So, You Think You Can Retire?
08/31/2018
So, You Think You Can Retire?

So, You Think You Can Retire?

“The most common need of those preparing to step into retirement isn't what you think: it's confirmation that all the hard work, discipline and saving was enough.” People getting ready to retire really want to be reassured that they did a good job and were good stewards of their money,...

Why Is a Power of Attorney So Important?
08/30/2018
Why Is a Power of Attorney So Important?

Why Is a Power of Attorney So Important?

“……we often receive community questions surrounding powers of attorney (POA), so we decided to take a look at some of the most common misconceptions surrounding a POA.” Most people understand the basic concept of a last will and testament: a document that directs how assets are to be distrib...

Estate Planning Fundamentals You Need to Know
08/29/2018
Estate Planning Fundamentals You Need to Know

Estate Planning Fundamentals You Need to Know

“It's easy to put off because it can be morbid and often doesn't kick in until late in our lives, but it's an important piece to be thinking about for those of us who want to make sure our families are provided for.” A well-prepared estate plan can help you...

Will SAFE Act Really Make Seniors Safe?
08/17/2018
Will SAFE Act Really Make Seniors Safe?

Will SAFE Act Really Make Seniors Safe?

“In an attempt to take a step toward countering some of the negative impact of elder financial abuse, the government recently passed the Senior Safe Act in May 2018, as part of a bipartisan banking reform set of laws. “ Elder abuse costs millions of Americans an estimated $2.9 billion...

Estate Planning with Blended Families Requires a Balance
08/16/2018
Estate Planning with Blended Families Requires a Balance

Estate Planning with Blended Families Requires a Balance

“If you say “I do” a second time and have children, your partnership acquires new stakeholders—not necessarily willing ones. Adult children have expectations about how much they’ll inherit and how soon. A new spouse scrambles that calculus. When you marry, you’re entering a partnership t...

Cohousing May Be the Answer for Many “Golden Girls” and Guys
08/15/2018
Cohousing May Be the Answer for Many “Golden Girls” and Guys

Cohousing May Be the Answer for Many “Golden Girls” and Guys

“Here’s one answer to the “Where to go next?” question being asked by those inching toward retirement, or those looking to escape the increasing cost of Seattle living and combine resources with a like-minded community.” For those living in high-cost areas, like Seattle, San Francisco, New...

Think 61 is Your Golden Retirement Number? Think Again
08/14/2018
Think 61 is Your Golden Retirement Number? Think Again

Think 61 is Your Golden Retirement Number? Think Again

“There's nothing wrong with looking forward to retirement and even planning an early exit from the workforce. However, Americans may be a bit misguided, when it comes to this particular milestone.” If you work for a living, chances are good you like to daydream about what your life will be...

Women Living Longer but Saving Less
08/10/2018
Women Living Longer but Saving Less

Women Living Longer but Saving Less

“All working Americans need retirement savings, regardless of gender. However, the need is particularly strong for women, since they have a tendency to live longer than their male counterparts. Therefore, they're also more likely to require paid care at some point—since a spouse may not be aroun...

Help with Healthcare Costs in Retirement
08/09/2018
Help with Healthcare Costs in Retirement

Help with Healthcare Costs in Retirement

“A financial planner’s client was traumatized in the dentist’s chair, but it was not the drill that scared her. It was the dentist’s bad news.” The frightening news was that she needed thousands of dollars of dental work, a cost she had not anticipated when she retired a few months...

Now Is a Good Time to Revisit Your Estate Plan
08/03/2018
Now Is a Good Time to Revisit Your Estate Plan

Now Is a Good Time to Revisit Your Estate Plan

“There still are many sound nontax reasons to revisit estate planning and possibly update your prior documents.” Even with the doubling of the individual estate gift and GST tax exemptions to about $11.2 million per person (and double the amount for married couples), you still need a will, says ...

Want to Give Away All of Your Money?
08/02/2018
Want to Give Away All of Your Money?

Want to Give Away All of Your Money?

“Even if you’re not a millionaire, you may have reached a stage where you think, It’s enough. It could even be a bit too much. A second car may sit mostly in your garage. A beloved vacation home may have transformed from a place to relax to a place to...

Roth IRAs Aren’t for Everyone, So Check Your Retirement Income Tax Rate First
08/01/2018
Roth IRAs Aren’t for Everyone, So Check Your Retirement Income Tax Rate First

Roth IRAs Aren’t for Everyone, So Check Your Retirement Income Tax Rate First

“Anyone saving for retirement has probably had to decide between saving in a Roth account versus a traditional retirement account.” If you think your income in retirement will be higher than it is right now, that’s a reason to put retirement savings into a Roth IRA. However,, if you’re alrea...

What Is the Fascination with Anthony Bourdain’s Estate Plan?
07/31/2018
What Is the Fascination with Anthony Bourdain’s Estate Plan?

What Is the Fascination with Anthony Bourdain’s Estate Plan?

“Ever since his untimely death, the press and the public hasn't been able to get enough of Anthony Bourdain. His name caused another commotion this week, when his will was probated in New York.” There’s something about a rebel who lives life on his own terms that is like a...

Have These Documents Prepared for a Child Headed to College
07/31/2018
Have These Documents Prepared for a Child Headed to College

Have These Documents Prepared for a Child Headed to College

“There are documents pertaining to health, money, and college records, that your child can sign to give you some peace of mind. Not all of these are required, but you may want to consider if you need them or not.” There’s no end to what parents and grandparents can worry...

Why You Need an Estate Attorney
07/13/2018
Why You Need an Estate Attorney

Why You Need an Estate Attorney

When a loved one passes away, it is a good idea to get the assistance of an estate attorney, if for no other reason than to deal with all of the paperwork. The government has many things it is very particular about. However, you are not likely to notice one...

Dodging an Unpopular Tax Provision
07/12/2018
Dodging an Unpopular Tax Provision

Dodging an Unpopular Tax Provision

The recently passed federal tax overhaul limits deductions for state and local taxes to $10,000. It has not been popular with those affected. Estate planning attorneys might have found a way around it. The new tax laws that were passed in December of 2017 have been controversial. Some people are...

Have Fun
07/11/2018
Have Fun

Have Fun

Staying both mentally and physically active has positive health benefits for elderly people. However, many have forgotten how to do that in enjoyable ways. If you go to any park or recreational center, you are likely to see a lot of young people enjoying themselves. Kids know how to play....

Social Security Can Be Fixed
07/10/2018
Social Security Can Be Fixed

Social Security Can Be Fixed

People who are opposed to the Social Security system claim that it is about to go broke and disappear soon. That is not true. Social Security opponents and opponents of government spending in general, like to make the claim that Social Security is going to go broke or bankrupt. They...

Estate Planning for the Separated
07/09/2018
Estate Planning for the Separated

Estate Planning for the Separated

Two recent celebrity deaths highlight a potential issue in estate planning. What happens when a couple does not get divorced but separates amicably? The recent deaths of fashion designer Kate Spade and celebrity chef Anthony Bourdain have elicited an outpouring of grief. They both committed suicide,...

Funding a Trust
06/29/2018
Funding a Trust

Funding a Trust

After creating a trust, you need to fund it. That does not have to be a difficult process. One of the many problems of “discount” trusts, either from a trust service or an online document service, is that they never get around to funding the trust. When the settlor passes...

Michael Jackson Estate Sues Disney
06/25/2018
Michael Jackson Estate Sues Disney

Michael Jackson Estate Sues Disney

The Michael Jackson estate has seen so much litigation that it should probably get bulk discounts for court and lawyer's fees. The latest litigation has the estate suing the Walt Disney Company. There might never have been a more contentious estate than that of Michael Jackson. Every few months, jus...

What Your Kids Need to Know about Your Death
06/18/2018
What Your Kids Need to Know about Your Death

What Your Kids Need to Know about Your Death

It is important that you talk to your children about what you want to happen, if you ever become terminally ill and what you want to happen, after you pass away Most parents dread the thought their children might become ill and pass away before the parents. No matter how...

Why You Need an Estate Planning Attorney
06/16/2018
Why You Need an Estate Planning Attorney

Why You Need an Estate Planning Attorney

Why You Need an Estate Planning Attorney You might think that you do not need professional assistance for your estate plan because you know who you want to get what. There is more to estate planning than that. It is actually easy to create an estate plan for yourself. You...

Planned Giving
06/15/2018
Planned Giving

Planned Giving

One of the ways that you can leave a good legacy behind, is to provide money to charity in your estate plan. Your worth is likely more than the sum total of your assets. You have worth that does not have any direct monetary value. Your capacity to like and...

What are Digital Assets?
06/14/2018
What are Digital Assets?

What are Digital Assets?

It is important to include your digital assets in your estate plan. However, you need to know what they are. In the last few years, digital assets have received considerable attention in estate planning. There have been lawsuits filed over access to them, after someone passes away. There have also.....

Your Executor Is Important
06/13/2018
Your Executor Is Important

Your Executor Is Important

One of the simplest things that you can do to help prevent your estate from facing difficulties, is to make the right choice about who your executor should be. People who get wills, normally put a lot of thought into how they would like their property to be distributed after...

Why You Need an Estate Plan
06/12/2018
Why You Need an Estate Plan

Why You Need an Estate Plan

If you think that you do not need an estate plan because you do not have very many assets, then you do not understand that estate planning is not just about your property. There are millions of Americans who do not have very many assets that need to be distributed...

05/08/2018

PROFIT LAW FIRM SEMINAR SERIES: MD & DC SEMINAR: TOPIC: Tax Planning & Estate Planning Update

LOCATION: 2 Wisconsin Circle, Chevy Chase, MD 20815

TIME: 6:30 PM EST - 8:00 PM EST

Use a Trust to Avoid Disputes
05/04/2018
Use a Trust to Avoid Disputes

Use a Trust to Avoid Disputes

If you know that your family is likely to fight over your estate, you can limit the fight greatly, by using a trust instead of a will. Many family fights over estates are predictable. People know when their family members do not get along and are likely to fight over...

Joint Tenancy Is a Bad Idea
05/03/2018
Joint Tenancy Is a Bad Idea

Joint Tenancy Is a Bad Idea

Adding a child as the joint tenant of your home to avoid probate is always a very bad idea. Some bad ideas in estate planning never seem to go away. No matter how many times estate planning attorneys try to tell people that the ideas are bad, people continue to...

Tell Someone about Your Advanced Medical Directives
05/02/2018
Tell Someone about Your Advanced Medical Directives

Tell Someone about Your Advanced Medical Directives

If you have a health care power of attorney and living will, you should make sure that someone you trust knows where to find them. It is very easy to get advanced medical directives today. You can often get living wills and health care powers of attorney as part of...

Address

2 Wisconsin Circle, Suite 700
Chevy Chase, MD
20815

Opening Hours

Monday 08:30 - 17:00
Tuesday 08:30 - 17:00
Wednesday 08:30 - 17:00
Thursday 08:30 - 17:00
Friday 08:30 - 17:00

Telephone

(301) 882-3670

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