Some states have inheritance taxes. Some have estate taxes. Some have neither. Only one has both – you guessed it: Maryland.
If you’re just moving to Maryland, now is a good time to review state laws and how they apply to your estate plans.
New arrivals should revisit their estate plans
4 critical consequences of not having a will
If a person passes away and does not have a will or estate plan providing direction for how to settle his or her estate, then it will be subject to state laws.
While this may be acceptable in cases where a person had few or no assets, or if everything would transfer to the same party regardless, it can result in unfortunate situations and losses. Below are some of these potential consequences that people may not anticipate.
