Legal Advice Blog: Legal Advice, Case Insights, & Local Law Information

Begin with a clear understanding. First, a gift is property irrevocably given or transferred without restrictions. The gift tax is a tax imposed on the transfer of gifted property during your lifetime, the value of which property exceeds the gift tax exemption. The federal gift tax exemption for 2012 is $5,120,000. Thus, you may gift up to $5,120,000 of property during your lifetime without any gift tax due. However, that exemption amount is unified with the Federal estate tax exemption. Thus, if you gift $2,000,000 during your lifetime and you die in 2012, then you will have no gift tax due, but you will in essence have reduced your estate tax exemption to $3,120,000 (plus $13,000 per donee – to account for the annual exclusion from gift tax discussed below). In Maryland and the District of Columbia, as well as most other states, there is no state gift tax. For more information, please call 443-393-7696 or complete the form below. Oops! We could not locate your form.

By: Bridgette E. Becker,Esq.- bridgette@elvilleassociates.com, 443-393-7696 Did you know you can provide for your pets after you have passed away? Approximately 60% of households in the United States currently own at least one pet. Although many people may make informal agreements with family members or friends to care for their pets if they become incapacitated or pass away, we can now set up pet-specific trusts to care for them when you are no longer able to care for them yourself. Estate planning attorneys draft Pet Trusts to ensure that your pets can be cared for pursuant to your wishes. Pet Trusts can be very extensive and may include provisions setting forth appointment of caretakers as well as guidelines for caretakers and care of your pets. These guidelines could include provisions addressing adoption or re-homing of pets, veterinary care, diet, or address any other wishes or concerns you may have regarding your pets when you are no longer able to care for them. Pet Trusts may be funded during your lifetime or at your death, depending on your preference. Finally, do not worry if you are unsure of how many pets you may have in the future when you may need a Pet Trust, these trusts can easily be drafted to include any pets you may have at the time of administration of the Pet Trust.

The primary benefit in forming a corporation is the liability protection offered to the owners of the corporation. This liability protection is provided through the laws in place in the State of Maryland. In order to ensure that liability protection is fully enforceable to the extent permitted under law, it is important for corporations to comply with the requirements of corporations established under those laws. Some of these formalities include keeping minutes, having written Bylaws, and holding annual meetings of shareholders and/or directors. Failure to comply with the formalities associated with corporate ownership and operation creates a risk of loss of liability protection. For more information, please call 443-393-7696 or complete the form below.

By: Matthew F. Penater, Esq.- matt@elvilleassociates.com, 443-393-7696 Creating a corporation or other limited liability entity is the first step to protecting your personal assets from claims of business creditors. However, failure to adhere to the requirements of the corporate code could reduce that corporate protection. Holding annual meetings, maintaining corporate records, and properly documenting ownership are examples of ways in which you can shore up the liability protection. For more information, please call 443-393-7696 or complete the form below.

Stephen R. Elville, Principal of Elville & Associates, has been named to the Charitable Gift Planning Advisory Committee for Anne Arundel Medical Center (CGPAC). Among the initiatives of the AAMC Foundation are support of the new Patient Tower and the Capital Fund strategy for the center. Mr. Elville provides legal guidance for the Foundation, specifically regarding estate planning and elder law as they relate to planned giving. For more information, please call 443-393-7696 or complete the form below.

During the week of January 13–17, 2014, in Orlando, Florida, Stephen R. Elville, J.D., LL.M., attended the nation’s leading conference for estate attorneys at the Heckerling Institute on Estate Planning. Attendance at the conference is an invaluable experience, as it offers the very best networking and professional development opportunities for estate planning professionals. This year’s program focused on both planning strategies and practice development in the new wealth transfer tax environment. Key topics that are core focuses of the firm such as elder law, asset protection, income tax planning and traditional core estate planning were also explored in-depth. Mr. Elville’s attendance at premier conferences such as the Heckerling Institute blend with Elville & Associates’ mission of providing practical solutions for our clients’ needs through counseling, education and superior legal technical knowledge—offered with a warm, friendly approach in a caring environment. For more information, please call 443-393-7696 or complete the form below.

On January 29 th, 2014, at the Baltimore office of Saul Ewing, Stephen R. Elville, J.D., LL.M., teamed with The Bar Association of Baltimore City, the Pro Bono Resource Center, Senior Legal Services and other experts in the field to offer training to 60 lawyers on simple estate planning for low-income seniors. Mr. Elville’s one-hour presentation focused on drafting financial statutory powers of attorney. Among the other topics of discussion during the day-long training were drafting simple wills and advanced medical directives, assessing client competency and ethical considerations. For more information, please call 443-393-7696 or complete the form below.

Contact: Jeffrey Stauffer, Community Relations Director Columbia, MD – The attorneys and staff of Elville and Associates are proud to announce the launch of the firm’s new charitable organization – The Elville Center For The Creative Arts. The new Elville Center will be a 501(c)(iii) non-profit corporation that will partner with local and regional businesses such as Music and Arts, schools, and other non-profit organizations to provide music instruments, music instrument rental, music lessons, and participation in music-related activities to and for children of all ages throughout Maryland and the mid-Atlantic region. The purpose of the Elville Center will be to improve the quality of life of children of all ages by providing them the opportunity to learn music theory and application, and experience cultural events related to the musical and creative arts; and to use music and the promotion of music-related activities to transcend social and economic divisions. For more information, please call 443-393-7696 or complete the form below.

MATTHEW F. PENATER, ATTORNEY, has joined the firm as a partner,representing clients in all aspects of estate planning,probate/estate administration, and trust creation/administration. he regularly addresses the needs of clients who require tax planning, asset protection and require business succession planning. Matthew is particularly focused on physician and dental practice representation, addressing the personal and business needs specific to those professions. notably, he was selected to the 2014 rising stars list of Super Lawyers magazine. atthew will be heading up a new office of the firm on or around October 1, 2014, to be located in the historical “Rotunda” building, bordering the neighborhoods of Hampden and Roland park in Baltimore City. For more information, please call 443-393-7696 or complete the form below.

Matthew F. Penater, Partner at Elville & Associates, has been selected to the 2015 Maryland Rising Stars list, his third consecutive year attaining the award. Each year, no more than 2.5 percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys. The Super Lawyers lists are published nationwide in Super Lawyers Magazines and in leading city and regional magazines and newspapers across the country. For more information about Super Lawyers, visit SuperLawyers.com. When told he had been selected to the list for a third consecutive year, Mr. Penater commented, “I am humbled to have been selected as a 2015 Rising Star. This recognition only makes me want to work harder for my clients and to continue providing sound legal services.” Mr. Penater is a cum laude graduate of the University of Baltimore School of Law. Admitted to practice law in Maryland, Baltimore, before the United States Tax Court and the United States District Court, Mr. Penater focuses his practice on Probate/Estate Administration, Estate Planning, Trust Creation/Administration, Business Law and Tax Law. He received his Bachelor’s Degree from the University of Scranton, his J.D. from the University of Baltimore School of Law, and LL.M. from the University of Baltimore School of Law. Mr. Penater practices primarily in the areas of Probate/Estate Administration, Estate Planning, Trust Creation/Administration, Business Law and Tax Law. In his Estates and Trusts practice, he assists clients from a broad spectrum of net worth in customizing estate plans that meet their specific family’s needs while limiting their exposure to estate tax and gift tax when necessary. In his Business & Tax Law practice, Mr. Penater assists clients in structuring business transactions from both a tax-related and business organization standpoint, including company formation (including S-corporations, partnerships and LLC’s) and the creation/implementation of business succession plans. Mr. Penater is particularly focused on Physician and Dental practice representation, addressing the personal and business needs specific to those professions. Elville & Associates engages clients in a multi-step educational process to ensure that estate and elder law planning works from inception, throughout lifetime and at death. Clients are encouraged to take advantage of the Planning Team Concept for leading-edge, customized planning. The firm considers counseling and education of paramount importance while working with its clients and community. Mr. Penater will be heading up Elville & Associates' fourth office, which is opening at the end of December in the newly-expanded Rotunda complex in the Roland Park area of downtown Baltimore. For more information, please call 443-393-7696 or complete the form below.

Stephen R. Elville, Principal at Elville and Associates, has been selected to the 2015 Maryland Super Lawyerslist. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys. The Super Lawyers lists are published nationwide in Super Lawyers Magazines and in leading city and regional magazines and newspapers across the country. For more information about Super Lawyers, visit SuperLawyers.com. "I am greatly honored to be selected to the Maryland Super Lawyers List by my distinguished colleagues and peers,” remarked Mr. Elville. “Any and all credit goes to my family, the partners, associates, and staff of Elville and Associates, my mentors, and our wonderful clients who have supported me throughout the years." Mr. Elville works with individuals and families to provide a unique attorney-client experience and peace-of-mind solutions to the challenges they face with estate, asset protection, and tax planning issues, and with disability and long-term care planning issues. Mr. Elville has extensive experience in working with clients involved in crisis situations. He also brings a unique and personalized approach to pre-crisis planning. Mr. Elville routinely handles client issues in the following areas: wills, trusts, estate tax planning, powers of attorney, living wills/advance medical directives, Medicaid planning and qualification, estate administration, fiduciary representation, nursing home selection, guardianships, special needs planning for children and adults, Social Security Disability Income (SSDI), Supplemental Security Income (SSI) and IRS tax controversy. He is a member of the National Association of Elder Law Attorneys (NAELA), Elder Counsel, Wealth Counsel and the Advisors’ Forum. He is the past Chair of the Howard County Bar Association Estates and Trusts and Elder Law Sections and is the past President of the Coalition of Geriatric Services (COGS). Mr. Elville currently serves as a member of the Maryland State Bar Association Elder Law Section Council and the Charitable Gift Planning Advisory Committee for Anne Arundel Medical Center (CGPAC). Elville & Associates engages clients in a multi-step educational process to ensure that estate and elder law planning works from inception, throughout lifetime and at death. Clients are encouraged to take advantage of the Planning Team Concept for leading-edge, customized planning. The firm considers counseling and education of paramount importance while working with its clients and community. Elville & Associates is opening its fourth office at the end of December in the newly-expanded Rotunda complex in the Roland Park area of downtown Baltimore. For more information, please call 443-393-7696 or complete the form below.

The law firm of Elville and Associates announced today it has opened a new office in Baltimore in the historic Rotunda building. This is the fourth location for the expanding estate planning, elder law and special needs planning firm, adding to its main office in Columbia as well as its locations in Rockville and Annapolis. The firm was founded in 2010 by University of Baltimore Law School alumni Stephen R. Elville, J.D., LL.M. Its seven attorneys bring a wealth of experience assisting clients with needs ranging from estate planning—wills and trusts, powers of attorney, advanced medical directives, tax planning, asset protection, fiduciary representation, estate and trust administration; elder law—Medicaid asset protection, guardianship, long-term care planning, VA benefits, nursing home selection; and special needs planning—special needs trust, supplemental security income and social security disability, health care decision making and financial and other planning for special needs situations. The firm also specializes in business succession planning and has two of the eight VA-accredited attorneys in Columbia in its firm. Elville & Associates engages clients in a multi-step educational process to ensure that estate and elder law planning works from inception, throughout lifetime, and at death. Clients are encouraged to take advantage of the Planning Team Concept for leading edge, customized planning. The education of clients and their families through counseling and superior legal-technical knowledge is the mission of Elville and Associates. The Baltimore office, located conveniently between the Roland Park and Hampden neighborhoods of Baltimore city, will be led by Mr. Matthew F. Penater, who has been named to the 2014 Maryland Rising Stars List for a third consecutive year by Super Lawyers, a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. Mr. Penater practices primarily in the areas of Probate/Estate Administration, Estate Planning, Trust Creation/Administration, Business Law and Tax Law. In his Estates and Trusts practice, he assists clients from a broad spectrum of net worth in customizing estate plans that meet their specific family’s needs while limiting their exposure to estate tax and gift tax when necessary. “I couldn’t be more excited to lead the new office of Elville & Associates,” remarked Mr. Penater.” “As a boutique estates, trusts and elder law firm based out of Columbia, we are looking forward to bringing our expertise to the residents of the greater Baltimore area. We selected The Rotunda as the base for our expansion into Baltimore as it is currently undergoing a massive revitalization, which will include new luxury apartments, new restaurants and a parking garage. This new Rotunda will be easily accessible for clients with plenty of parking and it will provide the energy and atmosphere to match our firm’s character.” In his Business & Tax Law practice, he assists clients in structuring business transactions from both a tax-related and business organization standpoint, including company formation (including S-corporations, partnerships and LLC’s) and the creation/implementation of business succession plans. Mr. Penater is particularly focused on Physician and Dental practice representation, addressing the personal and business needs specific to those professions. The new office is located at 711 W. 40th Street, Suite 358, Baltimore, MD 21211. For more information, please call 443-393-7696 or complete the form below.