As we work hard to build financial security and to leave a legacy, we do not want our estates to be subject to heavy taxation. However, Maryland may assess an inheritance tax when certain individuals inherit money or property after a death. Inheritance taxes are not common, and Maryland is one of just two states within the United States that collects both an inheritance tax and an estate … [Read more...] about Myths and Facts about the Maryland Inheritance Tax
There are many duties that must be fulfilled when named Personal Representative, or executor, of a Will. If someone you care about has passed away and the Will named you as personal representative, you want to think carefully about whether you are able to fulfill the role or if you should decline. Most individuals who have been entrusted to serve as a personal representative are going to want to … [Read more...] about Can I Handle the Duties of a Personal Representative?
"What is a Trust" by Attorney Nicole Livingston … [Read more...] about What is a Trust? (Audio)
Meeting with a Maryland probate attorney can be very important if someone you love has passed away. The individual the decedent has named as executor of an estate should meet with a probate lawyer as soon as possible in order to get advice about fulfilling his or her duties. If you are an heir or beneficiary, you may also consider meeting with an experienced attorney to understand your options … [Read more...] about Preparing to Meet with a Probate Attorney
Wills are one of the most basic and important estate planning documents. It is used to provide comprehensive instructions to ensure protection of your legacy. Also, Wills can stop your family from fighting over your assets, and provide clear instructions for who should be in charge of estate administration. You want to ensure you create a legally valid Will to provide instructions for the future … [Read more...] about How Often Do I Need to Update My Will?
"How Often Do I Need To Update My Will?" by Attorney Victor A. Lembo … [Read more...] about How Often Do I Need to Update My Will (Audio)
We all have seen courtroom drama play out on our favorite television show about how close family members are disinherited from receiving the family fortune. But then we wonder if that is really legal and will it be upheld? Estate planning attorneys often receive such inquiries during consultations and examine how to accomplish the client’s goals. In Maryland, if someone should pass without … [Read more...] about Can I Be Disinherited From An Estate?
"Can I Be Disinherited From An Estate?" bu Attorney Victor A. Lembo … [Read more...] about Can I Be Disinherited From An Estate? (Audio)
Very shortly after the death of rock star Prince, a search began for his last will and testament. When a will was not found quickly it became evident that Prince died without having one prepared. Why Prince did not prepare a will we may never know. Unfortunately, what he left behind has resulted in a big mess which is being sorted out by the courts of the State of Minnesota where Prince … [Read more...] about What Does It Mean To Die Intestate?
At the death of a loved one, life appears to occur at a lightning pace. We are grieving and making numerous decisions to give our family comfort. One of the first items that should be completed is to report the death to the Social Security Administration. However, do not be surprised if it learns of the death prior to your contact. Usually, if funeral arrangements were made, the funeral director … [Read more...] about Why Do I Need to Contact Social Security When a Family Member Passes?