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Nobody wants to worry about debt after a loved one passes away. Unfortunately, if a person dies while still owing debt, their creditors will try to claim the money that they are owed. The Maryland probate process dictates how these debts are handled. The probate...
As your parents begin to age, you might not want to think about their final wishes or settling their estate in Maryland as this signifies that they might not live much longer. While trying to look over the finances of your parents and the needs that they could have...
When someone passes away, things are made exponentially more challenging when a will isn't valid. When the validity of a will is called into question, life is made even harder for loved ones who are already dealing with loss and grief. So how do you know if your will...
A common estate planning error that people in Maryland may make is creating a trust but failing to fund it. It is not enough to just do the paperwork to set up a trust. You need to place assets in the trust as well. How to fund a trust A trust can perform a number of...
Probate refers to the process of authenticating a deceased individual's will and testament. The probate process in Maryland includes determining asset value, distributing the estate, and paying any remaining bills. Although the process varies depending upon the...
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...