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...
estate planning
Common things your estate plan could be missing
There are parts of your estate plan that you decided on long before you thought about creating a formal document. On the other hand, other assets and beneficiaries may present a more challenging question. While there may be assets you overlook as you are working on...
Should my estate plan be a surprise?
Talking to your loved ones about your will and other estate planning documents can feel uncomfortable. While you want your friends and family to have parts of your estate that are meaningful to them, a discussion about what you will leave behind might seem morbid and...
Choosing your trustee should not be an afterthought
The estate planning process for parents can be long, especially for high-net-worth families. This is because you have both more assets and income to plan for the average estate planner, in addition to all the normal familial considerations. Additionally, you may be...
How do I begin estate planning in Maryland?
When you think of estate planning, you may think that it is something that only older people have to worry about. Well, unfortunately, that is not always the case. You really never know when you may be come incapacitated or pass away suddenly and under certain...
Make sure your estate plan is up to date
If you have an estate plan in place, you are well ahead of millions of Americans. Your estate plan will save your loved ones a lot of work -- and perhaps a lot of money -- after you’re gone. Depending on the specifics of your plan, it can also help protect you and...
Are there assets I should not include in my revocable trust?
Revocable trusts -- also referred to as living trusts -- can be a significant part of a well-rounded estate plan. Assets in a revocable trust bypass probate while still leaving your loved ones with an inheritance, which can save time and money after you pass. While...
What should you do to avoid probate?
It is never too early to get involved with estate planning. Assuming that you have assets and/or a spouse and possibly one or more children, it is probably time to start thinking about what you wish to leave your loved ones after you are no longer here. An optimal...
Are there assets that people forget to put in their estate plan?
Estate planning can be complicated, especially for high net-worth couples and individuals. However, even those with more modest estates may have a much larger estate then they realize. Why? Digital assets. What are digital assets? Digital assets are all those accounts...
The basics of wills in Maryland
Wills serve as the backbone of the estate plans of many people in Severna Park. A will is a written document that dictates who you want to inherit which assets after you pass away. The following is an overview of wills in Maryland. Executing a valid will There are...