Your estate plan is a great place to show your personality and what’s important to you. While estate planning is considered serious and necessary, you can still have fun with it, other people sure have. People have bequeathed their entire wardrobe, a collection of spoons, or even a lifetime supply of chocolate. Someone else might leave a fortune to their beloved cat or dog while including … [Read more...] about Wills Gone Wild; Strange and Funny Bequests from History
Can I Do It Myself? Understanding the Risks and Realities of DIY Estate Administration?
So, your beloved Aunt Mildred has passed, left behind a mystery drawer full of old baubles, three cats with names longer than your resume, and – oh yes – an entire estate. And now you’re wondering: “Can I do this myself? Like, without a lawyer? Or a meltdown?” First of all, what is estate administration? In non-lawyer words, estate administration is what happens when someone dies and leaves … [Read more...] about Can I Do It Myself? Understanding the Risks and Realities of DIY Estate Administration?
Power of Attorney – How Vital Are They?
A power of attorney is a staple to have within a proper estate plan. Without them, there’s no telling who could be put in charge of your belongings and care in a time of incapacitation. The alternative, a court supervised guardianship proceeding, is an expensive and time-consuming procedure that is one to avoid whenever possible. There are two main types of powers of attorney - health and … [Read more...] about Power of Attorney – How Vital Are They?
Why Do Heirs Prefer Trusts?
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?
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?
Can I Use a DIY Will?
For most people, a Last Will and Testament serves as the foundation of their estate plan. If you do not yet have at least a basic Will in place, there is no time like the present to execute one. When you do decide to create your Will, you may wonder if you need an estate planning attorney to assist you, or if you can create one on your own. A Bowie estate planning attorney at Sinclair Prosser … [Read more...] about Can I Use a DIY Will?
Dangers of Do-It-Yourself Estate Plans and Updates
"What Do You Miss Out on With a DIY Will?" by Attorney Alex Pagnotta (Audio) If you make a Do-It-Yourself (DIY) estate plan, you miss out on many important things including: Legal advice on whether your estate plan is valid or not. State laws can differ so you need to make certain you follow Maryland rules. Buying a DIY will kit online or otherwise trying to make a DIY estate plan is not … [Read more...] about Dangers of Do-It-Yourself Estate Plans and Updates
Aretha Franklin Died Without a Will: What Does this Mean for Her Family?
Aretha Franklin Died Without a Will: What Does this Mean for Her Family? Aretha Franklin was known as the “Queen of Soul.” She was a singer, songwriter, civil rights activist, and so much more. Aretha was a great recording artist, with a career spanning many decades. She received honorary degrees from many prestigious universities, like NYU, Princeton, and Yale. Aretha died on August 16, 2018, at … [Read more...] about Aretha Franklin Died Without a Will: What Does this Mean for Her Family?
Designating a Guardian for Minor Children
Guardian for Minor Children by Attorney Colleen Sinclair Prosser An important part of a comprehensive estate plan is the designation of a guardian for minor children in each parent’s Last Will and Testament. Without such a designation, a court will decide who will care for your children in case of your death or incapacity. When meeting with an attorney to create your estate plan, you will … [Read more...] about Designating a Guardian for Minor Children
