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Under Maryland's Health Care Decisions Act, you have the right to make your own health care decisions in advance. You can indicate your treatment preferences if you become incapacitated, or you can choose someone to make those decisions for you. Let us look at the...
There are a lot of aspects to estate planning that can help you ensure that you minimize the tax burden on your heirs. In Maryland, there are plenty of state and federal tax structures to understand, and each one can have a major impact on taxes. The...
Grandparents might want to take steps to care for both their children and grandchildren. When involved in estate planning, grandparents might wish to consider naming grandchildren as beneficiaries. Listing the parents as beneficiaries and hoping they provide for the...
Estate planning can be a difficult topic, but it can help avoid a lot of pain and financial costs for your family down the line. One of the best ways to help make things easier on your inheritors is to add mediation provisions to your will. In Maryland, you want to...
Don’t let complacency set in once you have created your estate plan. If you do so, you’re likely to mismanage its assets later on. The reason comes from simple life events. To defer taxes or protect your assets from unwanted beneficiaries, you have to revisit your...
Wills are certainly helpful in managing your estate, but the laws of Maryland give your children the right to contest that will in court. The question worth asking is whether to go with an equal or equitable division of your estate. The relationships with your...
Retirement is a difficult subject for many people to think about in Maryland. It can be hard to imagine what you will do when you are no longer working, and estate planning is often overlooked in this regard. Here are some of the most important aspects that you need...
Even if it's hard, planning for what happens should you be unable to make your own decisions later in life is perhaps the most crucial part of estate planning. You hope it never happens, but planning for incapacitation would take the pressure off your loved ones, and...
When you're writing your will or determining who gets what in your estate, it's important to include instructions for how your minor children will be cared for if you pass away or are incapacitated. If you're a Maryland resident, here are some important documents to...
The state of Maryland imposes a tax on estates worth more than $5 million. Furthermore, there is an inheritance tax of 10% that may apply to property worth more than $1,000. However, the state exempts many heirs from the obligation to pay this additional fee....