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When drafting your will or trust in Maryland, an in terrorem clause can help prevent disputes over your estate. This provision, also known as a no-contest clause, states that beneficiaries who challenge the document's validity will lose their inheritance. Maryland...
When creating a will, most people are guided by how they want their assets to be distributed. However, while the concept of a will provides flexibility, Maryland has legal guidelines regarding whom residents can and cannot include. Residents of the Old Line State can...
Taking on the task of handling an estate in Maryland requires exceptional organizational, financial and legal skills. While you can choose whoever you want (well, they can figure it out their way as they go), selecting a professional estate executor may be just what...
When a testator passes away, their will is validated and submitted to probate court. Once validated, the executor may contact heirs, pay estate taxes and debts and distribute assets. The probate process can take several months to over a year to complete. The probate...
Being asked to serve as an executor is a great honor for Maryland residents, but it also comes with several responsibilities. Before agreeing to serve as an executor for a friend or family member, there are some things to consider, including the amount of time and...
A will is a legal document that outlines what you want to happen to your assets after your death. You don't necessarily have to pass all of your property on through a will. You could use other estate planning tools, such as trusts, transfer-on-death accounts and...
A will communicates a person's wishes for distributing an estate's assets after death and sometimes the care of minor children when necessary. For the most part, Maryland state laws respect a testator's final wishes but also recognize that an interested party may have...
Estate planning is something all Maryland residents should do to prepare for the future. Having a will is one of the basic steps to take. This is how you can go about creating one. Choose an executor Choose an executor to handle your estate after you’re gone. You will...
The inevitability of death does not always motivate people to plan their estate. A will is a guideline for grieving families as they fulfill the last wishes of their loved ones. People may believe they do not have enough assets to justify a will, or they think their...
A will is a powerful estate planning document in Maryland that lets you determine what happens to your assets and property after you die. You can use a will to name an executor, who will be in charge of carrying out your wishes, and beneficiaries, who will receive...