Articles - Chesapeake Wills & Trusts

What Happens if I Die Without a Will in Maryland?

When you pass away without a will in Maryland, you are said to have died "intestate." Dying intestate means the state of Maryland determines how your assets are distributed based on its intestacy laws. It's a one-size-fits-all approach, and unfortunately, it might not...

Who Should I Choose as My Executor or Trustee in Maryland?

One of the most vital decisions you'll make during the estate planning process is selecting a Personal Representative for your will or a trustee for your trust. These roles carry immense responsibility and ensure your wishes are carried out accurately and efficiently...

What is a Will, and How Does it Differ from a Trust in Maryland?

When it comes to planning for the future of your assets and ensuring your loved ones are taken care of, two main tools at your disposal are wills and trusts. Although they can seem quite similar, they serve slightly different purposes and come with their distinct...

What is Estate Planning and Why is it Necessary in Maryland?

Imagine for a moment you've just completed an intricate jigsaw puzzle. You've spent hours fitting pieces together, and finally, the full picture is clear. In many ways, your life is like that puzzle, an intricate blend of relationships, assets, and experiences. But...

Maryland Wills: 3 Things a Will CANNOT Do For Your Family

https://www.youtube.com/watch?v=Iq02WtqLm_w At Chesapeake Wills and Trusts, we strive to empower you with comprehensive knowledge for effective estate planning. Part of this involves understanding not just what a will can do, but also what it cannot. Being aware of...

Power of Attorney Rights – What Are They and Who Can Give Them?

The general definition of power of attorney is “a written authorization that allows you to act on someone else’s behalf in all financial, medical care, property, and legal matters”. In that agreement, the person giving over their right to decision-making is referred...

How an Irrevocable Life Insurance Trust Can Be Used to Avoid the Estate Tax

With the federal estate tax exemption possibly about to be lowered, it may be time to think about steps you can take to keep your estate from being taxed. An irrevocable life insurance trust allows you to pass on money to your heirs while avoiding estate taxes.

Medicaid Recipients Have a Little More Time to Spend Down Their Stimulus Money

The one-year deadline for nursing home residents on Medicaid to spend down their first round of stimulus checks is here, but they may have a little extra time.

IRS Announces That Face Masks and Related Purchases Are Tax Deductible

The IRS has announced that the tax deduction for medical expenses includes amounts spent on face masks, sanitizer and other products purchased to prevent the spread of the coronavirus.