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Is Probate in Maryland Always Required?

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  "Is Probate in Maryland Always Required?" by Attorney Colleen Sinclair Prosser (please click on link for full article) Many people are under the impression that assets are immediately transferred to your heirs after you die if you use a last will and testament to state your final wishes.    In reality, the heirs do not receive their inheritances right away because the will is admitted to … [Read more...] about Is Probate in Maryland Always Required?

What Happens to a Leased Vehicle After Death?

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  Leasing a car may be a great option when you do not want to purchase a vehicle.  Instead of having higher monthly payments and excessive fees, a lease may provide for more cash flow and additional flexibility for returning the vehicle at the end of the lease term. However, if the owner dies while leasing, what happens to the vehicle and the contract obligations may surprise you.  It is important … [Read more...] about What Happens to a Leased Vehicle After Death?

David Bowie – His Legacy Behind the Music

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  When David David Bowie passed away from cancer on January 10, 2016, we lost an icon whom had far-reaching effects into the world of music and culture. However, we gained some valuable lessons from his profound business and estate planning. After David Bowie married his second wife, supermodel Iman, he moved to New York and strategically planned out his financial legacy. Although he had … [Read more...] about David Bowie – His Legacy Behind the Music

Cleaning Up After A Hoarder

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  While settling an estate, it is not uncommon that we encounter a home owned by a hoarder.    Recently I attended a presentation by Cory Chalmers, an expert on hoarding, and learned a lot of valuable information about hoarding. The first thing I learned is that there are different levels of hoarding ranging from one to ten.  One being a mild hoarder, maybe someone who collects a few old … [Read more...] about Cleaning Up After A Hoarder

The Maryland Trust Act

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  The new Maryland Trust Act (hereinafter “MARYLAND TRUST ACT”) took effect on January 1, 2015 and is applicable to existing and new trusts. Therefore, it is retroactive to all trusts, regardless of whether the documents were executed prior to this date. Maryland now joins a large number of other jurisdictions, including Virginia and the District of Columbia, in enacting its statutory authority to … [Read more...] about The Maryland Trust Act