Articles - Chesapeake Wills & Trusts

How the CARES Act Will Impact Required Minimum Distributions, Retirement Planning, and Estate Planning

We wanted to bring you some important updates about your retirement accounts and how you might be able to utilize these new developments in your long-term financial and estate planning. Required Minimum Distributions in 2020: If you were expecting to have to take a...

Can You Afford to Skip a Will in Your Estate Plan?

Do you have minor children? Do you have specific plans for pieces of your property that you want to pass to certain people in your family? Do you want to exclude other people from your estate? If any of these apply to you, you could benefit from a will. The most...

What Happens When a Maryland Trustee Passes Away?

The governing documents established at the creation of the trust determine what happens if the role of trustee is vacated for any reason. This includes the trustee’s decision to step out of the role, a legal conflict in which the court determines the trustee needs to...

Understanding Advanced Healthcare Directives After a Cancer Diagnosis

Realizing that you’ve just been diagnosed with a serious medical condition can be an overwhelming prospect. There are many things to think about when it comes to protecting yourself and your family during this challenging time. Don’t neglect the opportunity to create...

Did You Fund Your Trust Properly?

The establishment of a revocable living trust in Maryland is an important first step in protecting the interests of you your family and ensuring that your assets are as protected as possible. However, there is a common misunderstanding that creating a revocable living...

Is Your Financial Support Plan in Place for Your Spouse?

If you created a will that gifts some assets to your children or grandchildren but haven’t taken the time to determine what’s in the best interest for you and your spouse in retirement, you’re not done planning. The loss of a spouse can be a devastating and...

Four Steps to Creating a Will in Maryland

Many people are under the impression that a will is unnecessary, particularly if they assume that they do not have valuable or enough assets. The truth is that everyone needs a will, and creating one now makes things easier for your beneficiaries. Creating a will in...

For What Reasons Can Someone Challenge My Maryland Will?

The Orphan's Court in Maryland reviews wills to determine whether or not they are in compliance with state laws. A will is legally valid when it meets all the terms and requirements of Maryland law. In the event that this analysis finds that the will was properly...

What to Know About Using a Revocable Trust in Maryland

Whether or not a revocable living trust is the right tool for you depends on your desires, needs, goals, exposure to estate tax and liabilities and capabilities. One of the most common misconceptions around using a living trust in Maryland is that creating a revocable...