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....
Estate planning is a great way to ensure that your family, other loved ones and business will be okay if you happen to pass away. Here are some common mistakes you want to avoid when putting together an estate plan in southern Maryland. Waiting too long The biggest...
If you're like many adults, you might be getting ready to move. With that in mind, some people want to enjoy the fun of living in a new state. As you prepare to do this, it's also important to take a look at your estate plan. Here's more information about what to look...
When it comes to estate planning in Maryland, your first instinct isn't always the best. One incorrect assumption could invalidate your entire will or reduce the number of assets that your children can inherit. The situation becomes even more complicated if you're on...
Forming a trust in Maryland could be a good way to pass your assets along to your loved ones. However, not all trusts are alike. You'll need to figure out which trust is best for your situation before you sign off on an agreement. What are the different types of...
When creating a will in Maryland, it's important to know what to include in the document to ensure it is valid. You'll need to be specific about who you want to obtain your assets by listing your beneficiaries. You'll need to choose an executor, and also name the...
It is important for people in Maryland to create an estate plan, but it is also important to avoid some common errors. For example, people should choose their beneficiaries carefully, making sure that if someone inherits a certain type of property, they can take care...
Estate planning in Maryland comes with making various decisions on what becomes of assets. Most people handle their assets in the form of a will, but not everything has to be included in a will. Revocable trusts provide another way for people to manage their estate in...
Estate planning is a popular wealth-building strategy used across Maryland to protect assets from unnecessary taxes, creditors, lawsuits and other threats. The process of estate planning encompasses many legal and financial tools, including wills and trusts. Here's a...
Many wealthy people in Maryland build their wealth through investments such as real estate, stocks and bonds. Even if you don't have a six-figure income or come from a wealthy lineage, you can still use estate planning strategies to protect your investments. Taking...
