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If you wonder how to manage your Maryland estate, you have many options. Recently, many people are attempting to rush through the estate planning process by setting up taxable on death accounts. However, you might want to take a second look at everything revocable...
Assets held in your Maryland estate may be subject to state probate laws. However, attaching a beneficiary designation to eligible items may make it easier to settle your affairs without the need to create a trust. A beneficiary may be any person who has reached the...
In Maryland, there are some circumstances where your beneficiaries will be required to pay taxes on the proceeds of your life insurance. This often occurs when your estate exceeds the stipulated tax limit. However, you can control, at least to some degree, the amount...
If you've accumulated assets, like a bank account and home, while living in Maryland, it's essential to have a will. Using this legal document to protect the best interests of any children you have is also vital. It specifies your last wishes on who should be a...
Maryland families have enough on their plate during a loss without thinking about estate taxes. Unfortunately, there’s no getting around estate taxes. There are ways to minimize what your family will owe in estate taxes after you pass. These can include special trusts...
If you have children and assets, creating a will can be crucial in ensuring they are protected. Using this legal document is the first step when you live in Maryland and want to ensure your wishes are carried out when you die. Without a will, you'll die intestate....
If you are about to embark on estate planning as a Maryland resident, you probably have heard several unfamiliar terms. One of those is a revocable living trust. This tool is an integral part of estate planning, but it's not for everyone. Here is what you need to know...
Maryland has rules for how it will divide the estate in situations in which a decedent doesn't leave behind a will. There is also an inheritance tax that non-family members may have to pay if they are a beneficiary in a will among many other inheritance laws....
An executor is the person who is appointed to take an individual's will through the probate process after the testator's death. This involves managing the estate, including paying creditors and taxes and distributing assets to heirs. Creditors and heirs in Maryland...
Several different types of assets are passed through beneficiary designation rather than by a will. Maryland residents who are creating or updating an estate plan should be aware of some common errors that people make regarding beneficiary designations so that they...