What is Estate Planning?
Estate planning is the process of organizing and managing a person’s assets and affairs to ensure that their wishes are carried out both during their lifetime and after their death. …
What is a Trust?
A trust is a legal arrangement where one party, known as the trustor (also called the grantor or settlor), transfers assets to another party, known as the trustee, who holds …
What is a Revocable Living Trust?
A revocable living trust is a flexible and commonly used estate planning tool that allows you to manage your assets during your lifetime and specify how they should be distributed …
How can I Ensure my Minor Children are Cared for if Something Happens to Me?
Ensuring the care and well-being of minor children if something happens to you involves detailed and proactive estate planning. Here are crucial steps to take to make sure your children …
How Often Should I Review or Update My Estate Plan?
It’s important to review and update your estate plan regularly to ensure it accurately reflects your current wishes, financial situation, and family circumstances. Here are some general guidelines on when …
What is Probate?
The probate process in Maryland is the legal procedure through which a deceased person’s estate is administered, ensuring that debts are paid and assets are distributed according to the will, …
Can I Disinherit Someone from My Will?
Yes, you can disinherit someone from your will, but there are important legal considerations to keep in mind depending on who the person is and where you live. Disinheriting someone …
What Happens If I Die Without a Will?
If you die without a will, you are said to have died “intestate,” and the distribution of your assets will be handled according to the intestacy laws of the state …
What is a Life Insurance Trust?
A Life Insurance Trust is a type of irrevocable trust specifically designed to hold and manage life insurance policies and the proceeds from those policies for the benefit of the …
Will I Owe Capital Gains Taxes on Real Estate Left to Me in a Will?
When real estate is left to you in a will, the potential capital gains tax implications depend on a few key factors: 1. Step-Up in Basis Automatic Step-Up: In most …