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This Holiday Give Your Loved Ones the Gift of Peace of Mind

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As we reach the end of the year, I find myself struggling with the age-old question, what am I going to get my parents for the holidays this year? Each year, this question becomes increasingly challenging. I know that as my parents have gotten older, they have gotten less interested in tangible things.  At this point, they enjoy spending time with family more than they do any tangible personal … [Read more...] about This Holiday Give Your Loved Ones the Gift of Peace of Mind

Power of Attorney – How Vital Are They?

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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?

Out of State Property and Your Estate Plan 

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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 

What Assets Should I Put In My Revocable Living Trust?

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"What Assets Should I Put In My Revocable Living Trust?" by Attorney Jon Gasior (Audio) Revocable Living Trusts are an extremely common tool used to create a comprehensive estate plan that provides for probate avoidance and control of assets during lifetime and at death. While the Revocable Living Trust can be one of the most effective estate planning tools, there can be a major downside. If you … [Read more...] about What Assets Should I Put In My Revocable Living Trust?

What is a Trust?

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  Written by Stephen C. Hartnett, J.D., LL.M., Associate Director of Education, American Academy of Estate Planning Attorneys, Inc. provided courtesy of Attorney Nicole Livingston What is a trust? Black’s Law Dictionary defines a trust as “An equitable or beneficial right or title to land or other property, held for the beneficiary by another person, in whom resides legal title or ownership, … [Read more...] about What is a Trust?

How to Transfer New Assets into the Name of Your Living Trust

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  The transfer of an existing checking or savings account, or one that is created in the future, can be accomplished quite easily.  Take a copy of your Certificate of Trust to the new accounts department of your bank or savings and loan and request that the accounts be set up in the name of your Living Trust.  You will then sign the new signature cards as Trustee.  You need not change the face of … [Read more...] about How to Transfer New Assets into the Name of Your Living Trust