McMillan Metro Faerber is pleased to announce the addition of Keith O. Gilmore to our firm. Keith is an Associate Attorney licensed in Maryland and Washington, DC., as a member of the Real Estate Law Department. He has experience in acquisition and development contracts, commercial leasing, and title analysis and settlements.
At the end of 2025, unless action is taken by Congress before that date, the federal estate tax exclusion amount is going to “sunset”. That means that it may nosedive to half of the current amount of $13,160,000. Most estate planning professionals predict that the exclusion will drop to around $7 million. That means that everyone who has been relying on the $13 million exclusion amount may suddenly find themselves with estate tax liability. The people that would be affected are those of single individuals with assets over $7 million or married couples with assets more than $14 million but less than $25 million.
Cheer on Captain Geoffrey Witherspoon, II, and the rest of the McMillan Metro Faerber team as we compete in the 2024 Lawyers Have Heart 10K, 5K & Fun Walk to raise funds for the American Heart Association!
We recently celebrated the backbone of our organization: our administrative professionals. Their dedication, organization, and unwavering support keeps our office running smoothly. We appreciate all they do!
“NDA” is an abbreviation for a “non-disclosure agreement.” They exist in different forms and have different uses. Employers typically require NDAs as a condition of employment in order to protect confidential company information and trade secrets. NDAs are also used when one party wants to disclose information to someone else but needs protection regarding its use. When both parties want to exchange information, a mutual NDA is used.
How’s this for a deal: “Estate plans starting at $199!” Plug a few names and other details into web-based templates, and suddenly, you have a will! Powers of attorney! Even a trust! Of course, easy is appealing, and the bargain-basement price is tempting.
McMillan Metro Faerber is in an exciting growth period. Our recent name change, recognizing managing shareholder Michael Faerber, provides new opportunities for additional updates and additions, including our newly revamped exterior signage! Come see our new sign at 7811 Montrose Road, Potomac, Maryland. We are thrilled with how it looks!
McMillan Metro Faerber is proud to announce that our own, Heather L. Sunderman, has been recognized by The Daily Record’s 2024 Estate and Trust Law Power List. Click here to read the original article.
Charitable Remainder Annuity Trusts (also known as CRATs) have been blessed by IRS since 1970. So why is the IRS now proposing to make CRATs reportable with your individual tax return with hefty penalties for not reporting? The short answer is due to the abuse of this income tax and estate tax planning tool. The long answer is a bit more complicated.
With the commercial real estate market in flux because of the post-COVID-19 economy and changes in work patterns, owners of leased commercial buildings, such as office buildings and industrial warehouses, are considering how to make their properties and their investments in them more attractive. We have seen a good number of commercial properties being repurposed for residential use, either by reusing the existing structure of the commercial building and creating residential spaces in them, or by tearing down these structures and redeveloping them into residential uses.