When thinking about how to pass down wealth, you might have concerns that your loved ones will quickly spend away their inheritances. And it happens all the time. Assets that take decades to accumulate and build can be blown in a matter of months, being wasted on...
Being single affords more freedom, yet it is also crucial to consider potential situations where disability or illness makes managing personal affairs impossible. Although it is often associated with the affluent, aging adults or those with large families, estate...
Estate planning is not just for people with significant wealth or large families. It can also be a valuable tool for those who have chosen a life of independence or do not have children. Apart from helping safeguard what you’ve worked so hard for, it can provide...
A lot of people make the mistake of thinking that estate planning is something that you do when you’re old and the end is in sight. The truth is that estate planning should be started well before that point, as waiting too late puts your family and your estate at risk...
Estate planning is not a one-time event, but a continuous process that requires periodic review and update. If you live in Maryland or own property here, you have specific estate planning needs that differ from other states. Significant life events Some of the most...
You might already know how important it is to have an estate plan set up but be putting off the task for various reasons. You might be confused about what is involved in setting up an estate plan, not know where to begin, think you cannot afford it or believe you do...
When a person is creating an estate plan, they may want to support a cause that has been important to them during their lifetime. A charitable trust is established with the intent to donate the trust's assets to a charitable organization of cause. Usually, the trust...
Wills, powers of attorney, trusts and other legal documents can help assure that property is allocated in accordance with a person’s wishes after they die, and that their financial and health care instructions are followed if they ever become incapacitated. But estate...
Many people have heard that a living trust can help their loved ones avoid the probate process. The Maryland probate process can be costly and take several weeks or months to complete. A Marylander can create a living trust while they are still alive. There are a...
A lot of people oversimplify the estate planning process. They think that a simple will, or no will at all, is sufficient to meet their needs. This can be a risky approach, especially if you’re in a blended family. As you think about creating your plan, consider the...