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MARYLAND ESTATE PLANNING ATTORNEYS ATTEND EXCLUSIVE CONFERENCE

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MARYLAND ESTATE PLANNING ATTORNEYS ATTEND EXCLUSIVE CONFERENCE RECEIVES IMPORTANT ELDER & ESTATE PLANNING EDUCATION IN INDIANAPOLIS, IN Annapolis, Bowie, and Waldorf — May 8, 2017— Acclaimed Maryland estate planning and elder law attorneys Colleen Sinclair Prosser, Jon J. Gasior and Victor A. Lembo partook in one of the nation’s premier legal education conferences in Indianapolis, IN from … [Read more...] about MARYLAND ESTATE PLANNING ATTORNEYS ATTEND EXCLUSIVE CONFERENCE

What Can Slow Down the Probate Process?

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Probate is often necessary to facilitate the transfer of assets after a death occurs.  While you want the probate process to move as quickly as possible so new heirs can take ownership, some issues and complications can arise that cause delays. A process could take a year, with some estates probated more quickly while others take much longer. It often takes this long due to extensive legal … [Read more...] about What Can Slow Down the Probate Process?

What are the Rules for an Inherited IRA?

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An inherited IRA is the term used to refer to an Individual Retirement Account that you inherit after a death. Generally, an IRA will pass outside of probate to a designated beneficiary. What happens next is going to depend upon what the beneficiary decides to do. An IRA is a special kind of investment account because there are tax breaks given when either investing or withdrawing in an IRA. As a … [Read more...] about What are the Rules for an Inherited IRA?

FREE Estate Planning Seminars Next Week! Is Your Estate Protected?

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  It's all about your "stuff" more commonly referred to as your assets which in essence is "your estate".  What planning do you have in place to make sure that your real estate, savings, IRAs, jewelry, art, etc. will be distributed to those that you intend?  In other words have you completed a comprehensive estate plan that will determine who will inherit what you want, when you want and how you … [Read more...] about FREE Estate Planning Seminars Next Week! Is Your Estate Protected?

4 Downsides to Guardianship

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Guardianship could become necessary under circumstances where a person becomes incapacitated and has made no advance plans regarding who will manage his affairs. Guardianship are formal legal processes that establish an officially-recognized relationship between an incapacitated person (a ward) and his guardian or conservator. Family members or close friends of someone who is incapacitated may … [Read more...] about 4 Downsides to Guardianship

First Party vs. Third Party Special Needs Trusts

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Special needs trusts are essential when a person with disabilities has assets to protect. Whether the person with the disability has funds, receives funds from a personal injury settlement, or receives funds and property as a gift, the money must be managed carefully. It also has to be owned in an appropriate manner so the assets do not prevent Medicaid eligibility or eligibility for other … [Read more...] about First Party vs. Third Party Special Needs Trusts

How the Maryland Probate Process Can Affect Your Family

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The Maryland probate process takes place through the Register of Wills and Orphan's Court when someone has died with property in the state. However, probate may be avoidable if one chooses to work with an estate planning lawyer to structure ownership of assets and facilitate the transfer of those assets outside of probate. There are many reasons why it makes sense to arrange for your asset to … [Read more...] about How the Maryland Probate Process Can Affect Your Family

How the Maryland Probate Process Can Affect Your Family (Audio)

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  "How the Maryland Probate Process Can Affect Your Family" by Attorney Victor A. Lembo … [Read more...] about How the Maryland Probate Process Can Affect Your Family (Audio)

How Does a Spendthrift Trust Work?

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If you are thinking about leaving money to someone who isn't very good with managing financial matters, you may wish to consider using a spendthrift trust. A spendthrift trust is a powerful tool that makes it possible for you to protect a loved one from himself.  If you have worked hard to build a legacy that you are going to leave to your family members, you don't want someone's … [Read more...] about How Does a Spendthrift Trust Work?

3 Reasons Why Creating a Will Isn’t Enough

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When you think of making an estate plan, you probably think of creating a will. While many people do no estate planning at all, a substantial number of people who do make a plan will only make a will and not go any further in the planning process. Unfortunately, for many people, a will is just the start of the documents you need to provide full protection for yourself and your loved ones.  You … [Read more...] about 3 Reasons Why Creating a Will Isn’t Enough

Considerations When Choosing the Executor of a Will

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The executor of a will has to do many different things during the probate process which are of great importance. When you are preparing your estate plan, you need to make certain that the person who you select to serve as executor of an estate is someone you can trust absolutely to serve your interests and to facilitate the fast and effective transfer of your assets to the people you … [Read more...] about Considerations When Choosing the Executor of a Will