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
The Maryland Trust Act (Audio)
"The Maryland Trust Act" by Attorney Victor A. Lembo … [Read more...] about The Maryland Trust Act (Audio)
Difficult Decisions
During the process of creating your estate plan, you will be forced to make some difficult decisions. With each decision, it is important to carefully consider your choice and evaluate the consequences of the resulting circumstance. Let’s talk about what you will want to contemplate before starting your estate plan. What do you want to accomplish with your estate planning? Who do you … [Read more...] about Difficult Decisions
Difficult Decisions
"Difficult Decisions" by Attorney Colleen Sinclair Prosser … [Read more...] about Difficult Decisions
Free Estate Planning Seminars Next Week! Register now!
The estate planning seminars establishes the necessary components of an effective estate plan. The seminar is presented in a case study format profiling the life of Bill and Mary Jones. Several scenarios are used to relay the impact of estate planning issues relating to probate, disability due to incompetence, protection of government benefits for special needs loved ones, second marriages, … [Read more...] about Free Estate Planning Seminars Next Week! Register now!
The Importance of Having Your Estate Planning Documents Reviewed When Moving Out of State
Whether you’re moving out of the state or recently moved to Maryland, it is important to have your estate planning documents reviewed after you are settled in a new state. Generally, a will executed outside of Maryland will be valid here if it is in writing, signed, and was executed in conformity with the other state’s laws. However, other estate planning documents are state specific. Trusts … [Read more...] about The Importance of Having Your Estate Planning Documents Reviewed When Moving Out of State
Family Incentive Trust is Alternative to Disinheriting
Recent headline news reported that actor Philip Seymour Hoffman left his entire estate to his girlfriend and nothing to his three young children, therefore disinheriting them. It is reported that he did not want to create “trust fund kids”, or kids that live off a trust and never have to earn a living for themselves. Through Mr. Hoffman’s planning, there is no provision for financial support … [Read more...] about Family Incentive Trust is Alternative to Disinheriting
Robin Williams’ Estate Plan
Robin Williams' untimely death came as a shock to the world this past August. As devastating as an unexpected, sudden death can be for the family, the need to settle the estate only adds to the stress of an already overwhelming situation. However, having an estate plan in place reduces the uncertainty and unknowns for the grieving family members, since the deceased person has already documented … [Read more...] about Robin Williams’ Estate Plan
Who Should Be the Executor of Your Will?
It is important to take the time to decide who should be the executor of your estate upon your death, and your power of attorney if you become incapacitated. Once you make these decisions, determine who should be the back-up in case your first choice is not available. Usually, you can think of one person you trust and more likely than not you have even thought about who that person should be … [Read more...] about Who Should Be the Executor of Your Will?
Privacy in Estate Planning
In these times of technology and security breaches, our personal privacy is a top concern. If you choose a Last Will and Testament as your estate planning document, or you choose not to create an estate plan at all, and you pass away, do you realize that private, personal information will be revealed to the public? Most people don’t, however that may be exactly what will happen in a process … [Read more...] about Privacy in Estate Planning
