“Happy Valentines Day, Darling. Here’s an Estate Plan.” How very romantic. Aren’t those the words everyone wants to hear. Valentine’s day is here, and while you’re planning to shower your loved ones with chocolates, roses and maybe even a heart-shaped balloon or two, there’s another gift that could truly make their hearts flutter – an estate plan. Wait, wait! Don’t go away just yet. Hear me out. … [Read more...] about This Valentine’s Day, Give the Gift of Peace of Mind
What is the Maryland Trust Act?
The Maryland Trust Act went into effect in 2015, passing a version of the Uniform Trust Code. Prior to that, most of Maryland’s trust laws were based on case law and not actually codified into a statute. The Maryland Trust Act provided a set of default provisions that apply to all trusts. There are some provisions that are mandatory and apply regardless of what the trust terms states and … [Read more...] about What is the Maryland Trust Act?
Is My Estate Plan Still Valid If I Move To Another State?
When you move to a new state you need to update a lot of your personal documents such as your driver’s license and voter registration card, but don’t forget about your estate plan. While your will or trust may still be valid in the new state, there could be differences in the new state’s law. These differences in the laws can make certain provisions of the document invalid or conversely, there … [Read more...] about Is My Estate Plan Still Valid If I Move To Another State?
Asset Protection Planning for Seniors
When you think about the priorities in your estate plan, you likely think about the need to ensure that your loved ones are provided for in your absence. That causes you to focus on creating a plan to distribute your estate assets according to your wishes. While it is always important to focus on how your estate assets will be passed down to loved ones, it is equally important to incorporate tools … [Read more...] about Asset Protection Planning for Seniors
Should You Tell Your Kids if You’re Leaving Them Money in Trust?
"Should You Tell Your Kids if You’re Leaving Them Money in Trust?" by Attorney Colleen Sinclair Prosser I am often asked the question, “Should I tell my kids that I am leaving their inheritance in a trust?” and, as a typical attorney, my answer is, “it depends”. Many parents are reluctant to discuss the fact they are creating a trust with their children. There are some good reasons why you … [Read more...] about Should You Tell Your Kids if You’re Leaving Them Money in Trust?
Can I Contest My Father’s Will?
"Can I Contest My Father’s Will?" by Attorney Jon J. Gasior (Audio) No matter how old you are, the loss of a parent is never easy to accept. If you recently lost your father, you are undoubtedly going through a period of grief and heightened emotions. At the same time, there are practical and legal issues relating to your father’s death that must also be addressed. At the top of that list is … [Read more...] about Can I Contest My Father’s Will?
When Is It Too Late To Create An Estate Plan?
"When is it Too Late to Create an Estate Plan?" by Attorney Jon J. Gasior (Audio) You may be considering exploring estate planning options for either yourself or your family, and you may even be wondering if you waited too late to create an estate plan. The answer to that question generally is no. However, there are some exceptions. The Maryland law states that “any person may make a will if … [Read more...] about When Is It Too Late To Create An Estate Plan?
How Often Should I Meet with an Estate Planning Attorney?
"How Often Should I Meet with an Estate Planning Attorney?" by Attorney Nicole Livingston (Audio) An estate planning attorney can help you to make updates to your plans for your future. You should make certain that you have plans in place, which means you need to reach out to a lawyer for advice if you haven't already thought ahead about incapacity, end of life issues, asset protection, and … [Read more...] about How Often Should I Meet with an Estate Planning Attorney?
Key Steps Which Are Part of Annapolis Estate Planning
Key Steps Which Are Part of Annapolis Estate Planning by Attorney Victor A. Lembo(Audio) The Annapolis estate planning process can involve much more than many people think it involves. While it is common to believe that estate planning simply consists of making a last will and testament, this is simply not the case. There is more that needs to be done and those who want a comprehensive estate … [Read more...] about Key Steps Which Are Part of Annapolis Estate Planning
Free Report: What Is Included in My Maryland Estate Plan
There are other types of trusts that can be used to satisfy more advanced objectives. For example, high net worth individuals may be exposed to the estate tax. You would face exposure if your assets exceed the amount of the estate tax exclusion. The exclusion stands at $5.45 million in 2016. The portion of your estate that exceeds this amount would potentially be subject to taxation when it is … [Read more...] about Free Report: What Is Included in My Maryland Estate Plan
