A life insurance trust allows a person to have control over his or her life insurance policy and how the proceeds are distributed to the beneficiaries he or she named. In a trust, the grantor is the creator of the trust, the trustee is the person who is responsible...
Due to these crazy and unprecedented times that we find ourselves in, estate planning has become a hot topic. After all, the only thing in life that is guaranteed is death and taxes, so we might as well plan for it now. And, many people are coming to this same...
A will sets out how a person’s property will be distributed after their death and names a personal representative who is responsible to their pay bills and collect assets. Sometimes, there are circumstances when a will is contested. This may be because the will was...
In Maryland, the Orphans’ Court is the probate court that is responsible for overseeing estate administration for people who have passed away, either with or without a will, while owning property in their name only. This property may include a car, jewelry, cash, bank...
You may have hit many life milestones by the time you reach 40. You may have graduated college, purchased your first home and have had children. It is a busy season of life, but one that can be greatly rewarding. Yet in the busyness one essential task you do not want...
Estate plans can include many testamentary documents that provide information and insights on an individual's wishes if they become incapacitated or die and leave assets behind. One important testamentary device that many Maryland residents choose to execute is a...
Estate plans help everyone, regardless of income, assure that their assets are transferred fairly and smoothly, and your needs are competently handled if you become incapacitated. Strategies should be undertaken sooner rather than later so that your estate planning...
You may want to leave an inheritance to your adult children, but what if one of your children has poor spending habits, is a young adult or has a drug or alcohol problem? What if you want your child to go to college or hold down a job before receiving an inheritance?...
Estate planning can be complicated, but it is a necessary process so that an individual’s assets pass to those they wish upon the individual’s death. A foundational document in the estate planning process is a will. A will is a tool that allows an individual to...
Many people believe that developing a comprehensive estate plan is a one-and-done proposition. This is not the case as numerous elements of the estate plan require maintenance to account for changing relationships, both personal and professional, as well as...