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...
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Estate Planning
Topics to cover with your estate planner
Whether you're new to estate planning or thought you've had everything covered, it's sometimes hard to know where to begin when you're talking to your estate planner in Maryland. If you cover these topics, it can help make sure your wishes are carried out after you...
More than wills and trusts in estate planning
A business in Maryland is rarely settled with a one-page will alone. There is more than one way to distribute the assets of an estate apart from a will or trust. Business owners have more documentation to review and compete as they handle their estate planning....
The most important questions to ask your estate planning attorney
Estate planning is a process that involves a lot of steps, including finding assets, valuing them and reviewing beneficiaries. With so many things to do, it's understandable to have questions about estate planning in Maryland. Fortunately, an estate planning attorney...
Is estate planning necessary for millennials?
With its booming economy and abundant job opportunities, Maryland has seen an influx of millennials. These tech-savvy young people are not only spending more, but many are also more efficient savers than generations from the past. However, a lot of them think that...
What is the importance of beneficiary designations?
One of the most important aspects of estate planning in Maryland is ensuring that chosen people inherit your estate. To ensure your assets are distributed as you desire, you need to check that your beneficiary designations are up to date and changed as situations are...
How to close an estate in Maryland
Among the many fiduciary duties of an executor in Maryland is the closing of an estate. This process is as important as distributing assets and paying the deceased's death taxes because it marks the official end of the probate process. Understanding what it means to...
Understanding the basics of a will is essential before signing it
If you're signing a will in Maryland, knowing the basics is crucial to help ensure you're making a sound decision. Utilizing this legal document helps ensure your wishes are met after you die. Understanding how a last will and testament works Defining how you want...
Maryland has dual estate and inheritance taxes
Are you preparing your estate in Maryland? It's important to be aware that there are two sets of taxes that cover your estate as well as the inheritance you leave. These taxes need to be known by you so that you can prepare for their effects. Who does Maryland's...
Leaving Assets to Minor Children
Many parents believe that naming a legal guardian will resolve any issues surrounding the care for minor children in the event of tragedy. However, leaving assets to minor children takes a lot more than simply naming someone to raise them. Neither “named guardians”...