One of the most important aspects of creating an estate plan is to protect your assets so you can pass them along to your beneficiaries. There’s more than one way that you can protect your assets and plan for getting them to your beneficiaries after you pass away. ...
There are many reasons people contest a will. Some common reasons include failing to meet the requirements of a valid will, lack of capacity or undue influence. If a loved one passes away and you do not believe the terms of their will are what they would have wanted,...
Estate planning often comes with unique challenges when you have a blended family, especially if you have both biological children and stepchildren. How can you make sure all your children inherit from your estate? And what estate planning tools can help you achieve...
When a parent passes away without leaving a will in Maryland, the distribution of their estate follows the state's intestacy laws. These laws outline who inherits, the percentage each person receives and the order of inheritance. Children of the deceased may benefit...
Estate planning can be significantly challenging when minimizing your estate taxes. In Maryland, state and federal estate taxes may apply based on the value of your estate. Here is what you need to know to handle these taxes well. Maryland estate tax Maryland taxes...
An elective share is a legal right of the surviving spouse to claim a fixed portion of the deceased spouse’s assets even though their will or estate planning documents suggest otherwise. This law ensures financial support for the surviving spouse and prevents...
Inheriting property can sometimes be more trouble than it's worth. Aside from pushing you into a higher tax bracket, some properties can come with significant maintenance and upkeep costs, or existing debts like mortgages or liens. The Maryland Uniform Disclaimer of...
Imagine spending thousands of hours building a thriving business, only to have it face uncertainty due to a sudden accident, illness or even your untimely death. Without a clear plan in place, your company's future and your family's financial security could be at...
In the United States, probate can consume up to 10% of the estate's value. This staggering cost is a significant burden for many families, which is why legal and financial experts strongly advise against probate when planning your estate. But what is probate, exactly?...
Becoming a parent is one of life’s most rewarding experiences, but it also comes with substantial financial responsibilities. Raising a child is expensive, and when you are busy providing for their basic needs, it is easy to delay one thing that is just as important:...