Many individuals desire to have an efficient administration of their possessions and assets when they pass away. We all know there may be complexities in handling an estate after death, but most families want privacy and peace. Creating a trust will help provide your heirs or beneficiaries their inheritance in an effective manner. Trusts provide important protection for you and your loved ones … [Read more...] about Why Do Heirs Prefer Trusts?
Out of State Property and Your Estate Plan
Many of our clients living here in Maryland have out of state property. Whether that is a vacation home in Florida or Delaware, a deeded timeshare somewhere, or a property inherited from a family member, it is something you need to plan for in your estate plan. When someone passes away owning property in more than one state, and they do NOT have an estate plan in place, then there will … [Read more...] about Out of State Property and Your Estate Plan
Plan for Life: Proper Estate Planning Covers More Than Death
Comprehensive estate planning goes beyond wills and trusts. One of the most essential—but often overlooked—tools in any estate plan is the Power of Attorney (POA). These documents serve a vital role in protecting your interests during your lifetime, particularly in the event of illness, injury, or incapacity. In fact, we recommend at least this basic form of estate planning for anyone who has … [Read more...] about Plan for Life: Proper Estate Planning Covers More Than Death
What Happens If You Don’t Have a Power of Attorney?
A power of attorney is a necessary document to have as part of a comprehensive incapacity plan. Making a power of attorney is important to protect yourself in case you develop a serious illness or suffer an emergency injury, and you are not able to make your own decisions or manage your own affairs as a result of what has happened. A power of attorney must be created before something … [Read more...] about What Happens If You Don’t Have a Power of Attorney?
The Titling of Joint Accounts with Non-Spouses
When reviewing assets with clients, we often find that they have jointly titled accounts. This is very typical for spouses. But sometimes, clients will have a joint account with someone other than their spouse, such as an adult child. What should you be thinking about when you open a joint account with someone, or add someone’s name to your existing account? There are some benefits … [Read more...] about The Titling of Joint Accounts with Non-Spouses
Estate Planning Checklist: A Step-by-Step Guide to Get Your Affairs in Order
Estate planning is the process of designating who will receive your assets in the event of your death. A well-constructed estate plan will ensure your wishes are captured at your death but also during times of incapacity. An individual's estate plan can articulate not only where they want their assets to go upon their death but can incorporate values and beliefs. It's not just about who inherits … [Read more...] about Estate Planning Checklist: A Step-by-Step Guide to Get Your Affairs in Order
This Valentine’s Day, Give the Gift of Peace of Mind
“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
Estate Planning and Divorce: Updating Your Plan Post-Dissolution
Divorce is a life-changing event that necessitates a thorough review and likely update of your estate plan. As circumstances change, so too should your estate plan to ensure it still aligns with your new life situation. Here are a few crucial considerations for updating your estate plan post-divorce. Navigating through a divorce can be challenging, and the need to adjust your estate … [Read more...] about Estate Planning and Divorce: Updating Your Plan Post-Dissolution
How Social Media Posts Might Impact a Will Contest
One of the many reasons why people choose to create an estate plan is to ensure that their wishes are honored after they are gone. Part of your estate plan, therefore, should focus on avoiding probate litigation. Unfortunately, however, there is no sure-fire way to prevent an estate from becoming embroiled in a Will contest. Moreover, in the 21st Century, even your social media posts could impact … [Read more...] about How Social Media Posts Might Impact a Will Contest
Can I Prevent Someone from Contesting My Will?
"Can I Prevent Someone from Contesting My Will?" by Attorney Alexander Pagnotta (Audio) For most people, a primary motivation for creating a Last Will and Testament is to ensure that their estate assets are distributed according to their wishes after they are gone. If that Will is invalidated, however, the State of Maryland ultimately decides what happens to your assets. Knowing that it seems … [Read more...] about Can I Prevent Someone from Contesting My Will?
