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: […]
Estate Planning with Dementia on the Rise
Dementia is a chronic or persistent syndrome caused by brain disease or injury and marked by deterioration of memory, personality changes, and impaired cognitive function. As the baby boomer generation continues to age, the number of people who are affected by dementia increases. Perhaps more alarming is that individuals in their fifties are more commonly […]
Understanding the Significance of Trusts
This article addresses a topic that is important to many Americans yet is sometimes misunderstood—trusts. In the right circumstances and with proper drafting, trusts can provide significant advantages to those who utilize them. Admittedly this is a complex area of law, but this article reviews the basic principles and types of trusts and explains the […]
How To Protect Your Retirement Accounts
Most people are shocked to learn that after they pass, creditors can seize the retirement accounts intended for their loved ones. During your lifetime, your retirement funds have fairly comprehensive asset protection, meaning they cannot be taken in a lawsuit. Unfortunately, as soon as retirement accounts are inherited, the protection evaporates in most states. This […]
Caught in the Undertow: How No Estate Plan (or a Bad One) Could Leave Your Family Overwhelmed
Many people love to spend part of their summer vacation at the beach, enjoying the ocean and sunshine. But there may be unseen dangers that are crucial for beachgoers to keep in mind: For example, the undertow is a current of water, often quite powerful, below the surface, that is moving away from shore when […]