Planning for Your Furry Family Members
For many families, pets are more than companions, they are part of the family. But what happens to your pets if something happens to you? Maryland law allows you to create a Pet Trust so you can make sure your animals continue to receive love and care when you are no longer able to […]
The Do’s & Don’ts of Administering a Maryland Trust or Probate Estate
Administering a Trust or Estate involves more than just handing out money. It means you must follow specific legal and tax laws and rules of procedure, stay organized, and act in good faith. When fiduciaries, such as a Personal Representative administering a Probate Estate or a Trustee handling a Trust Administration ignore professional advice or […]
Can Your Executor Handle It? 3 Signs You Picked the Wrong Person
When you create a Will, one of the most important choices you make is who will serve as your Personal Representative (aka “Executor”). In Maryland, this person manages your Estate and handles all legal responsibilities which requires filing paperwork, settling debts, paying taxes, and distributing your assets. It’s not just a title; it’s a serious job. […]
Is Your IRA Inheritor-Proof?
IS YOUR IRA INHERITOR-PROOF? The SECURE Act changed the rules—and most people have not caught up. You spent years building your IRA. You planned for the IRA to support your loved ones after your death. But thanks to the SECURE Act, your IRA might no longer work the way you intended. What the SECURE Act […]
The Document That Speaks When You Can’t: Why You Need An Advance Directive Now
The Document That Speaks When You Can’t: Why You Need An Advance Directive Now No one plans to get sick or injured, but when the unexpected happens, your doctors will need answers. Whether it’s a car accident, stroke, or a sudden illness, who should make medical decisions for you? Should they pursue every life-saving measure? […]
5 Things Your Fiduciary Needs to Know Before You Die
5 Things Your Fiduciary Needs to Know Before You Die You might think you have a solid estate plan – but if your fiduciary doesn’t know the basics, they could face legal and financial chaos after a loved one dies. Here are 5 things they need to know—before they’re in the middle of it: […]
Love & Estate Planning
Love and Estate Planning Go Together Like a Horse and Carriage Protect Your Wealth and Your Spouse with a Spousal Lifetime Access Trust February, the month of love, is the perfect time to show your loved ones that you care about their financial futures. While chocolates and flowers are nice gestures, a spousal lifetime access […]
How to choose your financial agent and your healthcare agent.
Who should be your financial agent and healthcare agent(s)? Maryland Guardianship statutes are the state’s default plan to appoint someone to make decisions for you if you can’t make them for yourself. This default plan, however, may not be the plan you would have chosen. Most importantly, Maryland statutes may give priority guardianship appointment to […]
How Should You Hold Title to Real Estate?
Your home is probably the most valuable asset you own. Yet most people do not think about how to hold title until the title company poses the question when you buy or refinance. But how you hold title to real estate deserves careful consideration because it has far-reaching effects. Let’s look at some common ways […]
Why Unmarried Partners Should Care About Estate Planning
According to a 2019 survey conducted by the Pew Research Center, 7 percent of surveyed adults were living with an unmarried partner, up from 3 percent in 1995.[1] More people such as yourself are entering long-term committed relationships without getting married. Unfortunately, many state and federal laws do not protect unmarried couples as they do […]