Estate Planning

Having a child unexpectedly can be a great source of happiness for a couple; however, it also comes with a host of responsibilities, including the need to plan for the future of your estate. A couple may not want Maryland intestate laws to dictate the probate process,...

If you die without a valid will, Maryland law will declare you intestate. This means that your assets will pass in accordance with state law as opposed to how you would have wanted to allocate them. It's possible to avoid dying intestate by creating a will, having a...

Irrevocable trusts are estate planning strategies that many residents of Maryland use to reduce their taxes and pass on more of their estates. The IRS rolled out Revenue Ruling 2023-2 in March 2023 to change some of the rules surrounding irrevocable trusts, which...

One reason for creating a living trust is so your family can avoid probate court after your death. Not only is probate court time-consuming, but it gives the state of Maryland control over the distribution of your assets. To maintain control over asset distribution, a...

People who live in Maryland and have moderate to large estates should know about the Maryland estate tax. While this tax won't apply to all estates, it will to those that are valued above the threshold established by the state. In Maryland, the estate tax threshold is...

Estate planning law is more thorough than many people realize. Navigating the ins and outs takes a lot of time. Aside from that, you could make mistakes in your property and assets division that cause confusion over what to do. Choosing the wrong type of trust There...

Young, single individuals in Maryland might not consider setting up their estate plans until they’re older. But the truth is, setting up an estate plan is important at any age - and almost doubly so when you’re single. If you’re not married with children, all of your...

As your parent grows older, you may realize that they can no longer operate with the type of independence they used to enjoy. The state of Maryland allows children to obtain power of attorney over their elderly parents to protect your parents' health and wishes. Your...

Persons interested in maximizing their net worth may find value in financial planning. Effective financial planning could keep someone out of debt or help them increase their net worth. For those hoping to best care for their loved ones, Maryland residents might wish...