The Importance of Estate Planning for Your Family’s Future
Category: Maryland Estate Planning
March 16, 2023
Estate planning is the process of preparing for the distribution of your assets after your death. It involves creating a plan that outlines who will receive your assets, how they will be distributed, and who will be responsible for carrying out your wishes. Estate planning is an essential process that every family should consider to […]
The Components of Estate Planning
Category: Maryland Estate Planning
November 29, 2022
If you want to ensure that your estate is handled in the way that you intend, it’s important to have a well-designed estate plan. This includes having a will and other legal documents in place that will ensure that your wishes are followed after your death. There are many factors to consider when creating an […]
Does a Living Trust Avoid Estate and Probate Taxes?
Category: Maryland Estate Planning
November 29, 2022
A living trust does not avoid estate tax or Probate tax. However, a living trust prevents heirs from attending probate court, a lengthy process where the deceased assets are listed and reviewed. In this way, a living trust minimizes the taxes levied on the estate, as the true value is obscured. Living Trust Vs. Will […]
What Are the Benefits and Drawbacks of a Living Trust?
Category: Maryland Estate Planning,Uncategorized
November 28, 2022
There are many options in estate planning that allow someone to remain in control of how their money will be distributed. One of these is a living trust, a type of arrangement between a grantor, trustee, and beneficiaries. Because of the perceived advantages of this option, living trusts remain an ideal choice for people with […]
Intestate: What It Means and How It Works
Category: Maryland Estate Planning,Uncategorized
October 26, 2022
When a person dies without a will, they are said to have died “intestate.” This means that state law will determine how the person’s property is distributed, which can be a problem if the deceased person’s wishes are not in line with state law. Understandably, many people want to avoid the intestate succession process if […]
An Overview of the Probate Process
Category: Maryland Estate Planning
October 25, 2022
Probate proceedings can be time-consuming, which is why families avoid undergoing the process at all. In a nutshell, probate is a court-supervised procedure where assets and obligations — including debts and taxes — are gathered and distributed to the heirs. If the proceedings go smoothly, and there are no adverse parties, probate involves mostly paperwork. […]
How to Choose an Estate Administrator
Category: Maryland Estate Planning
October 25, 2022
Are you one of those people that are thinking about estate planning, but don’t want to hire a lawyer? While it can be tempting to do DIY estate planning as you are certain to save some money, there are many potential risks involved. You may run into estate planning pitfalls that you were unaware of, […]
An Overview of the Probate Process and What you need to know
Category: Maryland Estate Planning
October 25, 2022
Probate proceedings can be time-consuming, which is why families avoid undergoing the process at all. In a nutshell, probate is a court-supervised procedure where assets and obligations — including debts and taxes — are gathered and distributed to the heirs. If the proceedings go smoothly, and there are no adverse parties, probate involves mostly paperwork. […]
Common Problems With the DIY Approach to Estate Planning
Category: Maryland Estate Planning
October 25, 2022
Estate planning is a necessary process that everyone should go through to ensure that their assets are distributed according to their wishes in the event of their death. However, due to Covid-19 and other unprecedented circumstances, many people now choose to do their own estate planning instead of hiring a lawyer. While this may seem […]
Protecting Your Retirement During a Divorce
Category: Maryland Divorce,Maryland Estate Planning,Maryland Family Law
September 7, 2022
Going through a divorce is an emotionally turbulent time, so couples might not think about their long-term needs after the separation. One of the important considerations is dividing assets, especially those associated with retirement. When done correctly, both parties can still ensure that their retirement funds are enough to secure their future needs. In Maryland, […]
