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The end of the calendar year provides ample opportunity for Maryland residents to spend time with loved ones and take stock of where they are in their lives. It may also be an ideal time to review your estate plan and whether it still meets your needs. Consider making...
With intentionally defective grantor trusts or IDGTs, the name can be misleading if you just take it at face value. Despite the defect stated explicitly in this trust type's title, they do serve an important purpose quite effectively in Maryland. What makes them so...
Many different trusts are available in Maryland to meet your estate planning interests and to provide you with potential income during your retirement. One type that some high-wealth individuals consider is a charitable remainder trust (CRT), also called a...
In Maryland, you create a trust account by signing a notarized Declaration of Trust, funding the account and transferring ownership to a trustee. That trustee has a fiduciary responsibility to work on behalf of the beneficiaries, manage the account and distribute...
Do you own a property that you don't want to sell but also don't want to have to worry about in the future? If so, a life estate might be the right solution for you. What is a life estate? A life estate is a type of ownership that allows you to keep your property...
Many Maryland residents have pets that they cherish as beloved family members. Although people often outlive their pets, life is uncertain. A great way to ensure that they will be cared for after you’re gone is to include your pets in your estate plan. Including pets...
No matter what your age, it’s never too late to consider planning your Maryland estate. These are the biggest reasons why you should start now. You decide on your healthcare Nobody ever knows what the future holds. You can be involved in a serious accident or be...
One of the most difficult conversations a parent can have with their children is discussing estate planning. It's hard to think about our own mortality, let alone talk about it with our kids. But, it's an important conversation to have. Get a calm and relaxed setting...
Wills are used primarily to determine what happens to assets that remain in your Maryland estate after your passing. As a general rule, a will is valid from the moment it is executed. However, it is possible to revoke or otherwise render a current or previous version...
One way for someone to protect their assets in Maryland is by establishing a trust. A trust in your name makes it easy for you to protect assets and distribute them to your beneficiaries. If you need to present information about your trust, having a certificate of...