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The end of the calendar year provides ample opportunity for Maryland residents to spend time with loved ones and take stock of where they are in their lives. It may also be an ideal time to review your estate plan and whether it still meets your needs. Consider making...
With intentionally defective grantor trusts or IDGTs, the name can be misleading if you just take it at face value. Despite the defect stated explicitly in this trust type's title, they do serve an important purpose quite effectively in Maryland. What makes them so...
Many different trusts are available in Maryland to meet your estate planning interests and to provide you with potential income during your retirement. One type that some high-wealth individuals consider is a charitable remainder trust (CRT), also called a...
The inevitability of death does not always motivate people to plan their estate. A will is a guideline for grieving families as they fulfill the last wishes of their loved ones. People may believe they do not have enough assets to justify a will, or they think their...
In Maryland, you create a trust account by signing a notarized Declaration of Trust, funding the account and transferring ownership to a trustee. That trustee has a fiduciary responsibility to work on behalf of the beneficiaries, manage the account and distribute...
Being an executor is a big responsibility. Not only do you have to manage the deceased's estate, but you also must deal with the financial side. This can be daunting, especially if you need clarification on what expenses you can and can't claim. From managing the...
Trust funds offer more control in how your beneficiaries spend the assets than a will. You could place limits on how much they can withdraw each year and what they can spend the money on. It's easy to set up a trust fund in Texas, and you don't have to be rich to open...
Do you own a property that you don't want to sell but also don't want to have to worry about in the future? If so, a life estate might be the right solution for you. What is a life estate? A life estate is a type of ownership that allows you to keep your property...
A will is a powerful estate planning document in Maryland that lets you determine what happens to your assets and property after you die. You can use a will to name an executor, who will be in charge of carrying out your wishes, and beneficiaries, who will receive...
Many Maryland residents have pets that they cherish as beloved family members. Although people often outlive their pets, life is uncertain. A great way to ensure that they will be cared for after you’re gone is to include your pets in your estate plan. Including pets...