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If you live in Maryland and have created a will, you should check it periodically to make sure that it is still correct. There are a number of different events or situations that can mean it's necessary to revise your will. Family changes The birth of a child,...
Everyone has heard the word "probate" and understands it relates to inheritance. Most people, however, do not know how probate works or how it may apply to them. Maryland residents facing a probate case should understand what probate is, how it works, and how much it...
In Maryland estate planning, an attorney-in-fact, also known as a power of attorney, is appointed by someone else to act on their behalf if they should become incapacitated. You might need an attorney-in-fact for several reasons, and the person you designate can make...
Appointing someone with power of attorney is an important aspect of estate planning in Maryland. With a power of attorney, you appoint another person as an agent. If you cannot make those decisions yourself, you give them the ability to act in your place, making...
It's not always best to divide your assets equally amongst your children if it doesn't make sense for your family's situation. When that's the case, you might consider leaving an equitable inheritance for everyone rather than an equal inheritance. Each of your...
Many Maryland residents overlook life insurance if they have other assets to support themselves in retirement. However, having a policy can ease some of the tasks that your survivors and executor must go through to settle your estate after your death. Consider the...
A life estate is a type of real estate ownership that allows the owner to retain possession of the property for the duration of their life. After their death, the property passes on to the designated beneficiary or the person specified in a will. Life estates have a...
Getting remarried to a new love you've found in Maryland is an exciting experience, but it's important also to look ahead and plan for the future. This is especially true if one or both of you have children from previous relationships because estate planning becomes...
Estate planning in Maryland is an essential aspect of financial planning that helps individuals prepare for the distribution of their assets after their death. As people age, their estate planning needs change, and it is essential that they revise their plans to...
It's never too early to start planning for retirement. In fact, the earlier you start, the better off you'll be. But where do you start? As a Maryland resident, there are certain important things you'll need to consider. Do you have enough savings to retire? The...