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Trusts are a possible way to avoid probate in Maryland. There are many different types of trusts and conditions for controlling the withdrawal of assets. Five by five power is one clause to consider including in a trust you set up. This would mean that beneficiaries...
Circumstances of life change over time, so you should periodically update your will. Ideally, you should update your will as soon as you make a major life change. Maryland revokes provisions related to an ex-spouse when you divorce only if they weren't named as a...
Divorce can be complex and stressful, but nearly half of marriages end in divorce. There are many thoughts on either spouse's mind in Waldorf, Maryland. After the final papers of a divorce, people don't usually think about their estate plan. A person should never...
If you are an executor of a will in Maryland, you must open an estate and request the probate court to name you as the administrator before you can perform any of your fiduciary duties. Here’s how you can go about it. The type of estate to open in Maryland You can...
Are you thinking about buying a real estate property from a probate sale? This type of sale is different from the usual type that is conducted by a private seller. If you live in the state of Maryland, there are a few crucial details to consider. What are the basics...
Are you getting ready to prepare your will? If you live in the state of Maryland, there are a few basics that you need to know. These details can save a lot of time, energy and money for you and your heirs. What is the definition of a will? Wills are also known in the...
When it comes to estate planning in Maryland, there are a variety of options to choose from. One popular option is the revocable living trust. This type of trust allows you to maintain control over your assets during your lifetime and designate who will inherit your...
If you live in Maryland and you are creating an estate plan, it may be helpful to think through any potential conflicts that the plan may raise. This can help you take steps to ensure that your wishes are clear and to consider any other precautions. One of the things...
There are a lot of things on a Maryland resident's mind immediately after a loved one passes. Unfortunately, one of the most pressing concerns might be how to pay for things like the funeral expenses and estate taxes. An estate tax is applied by federal and state...
A trust is a legal document that allows you to control your assets in Maryland after you die. This can be a great way to ensure that your loved ones inherit your property and money smoothly and timely. But what assets should be included in your trust? Keep reading to...