Within the context of your overall estate plan, asset protection is an additional service that you can benefit from when partnering with the right lawyer. These are legal strategies and techniques used to shelter your personal financial assets from possible creditors. These should always be used in conjunction with more traditional estate planning techniques, such
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 living trust automatically governs all of an individual's assets. In
Establishing a living trust in Maryland is a task undertaken by people who intend to transfer ownership of their assets and properties such that this can be more effectively distributed to beneficiaries or heirs after they passed away. Can Revocable Trusts Be Contested in Maryland? A revocable living trust, also known as a living trust,
As a beneficiary of a recently opened Maryland estate, there’s no doubt that you will have questions about the important role that a personal representative plays in closing out the estate and getting paid for his or her time. These fees are in addition to fees to close out the estate in MD. Everyone who
Estate administration in Anne Arundel County refers to the formal process through which ownership of your assets passes from you to your beneficiaries. Every state has their own procedures in place that dictate what happens after a person passes away, and Maryland is no different. The person managing the administration of your estate will look
Talking about your long-term care wishes and your money can be difficult enough, but when these come up in the context of helping a family member who is suffering from memory loss, time is of the essence. The development of Alzheimer's disease can have many different ripple effects throughout your family. There are four critical
As a person creating your estate planning documents, you have a vested interest in ensuring that there are limited chances for someone to challenge the validity of these documents in the future. It's important to remember when working with a knowledgeable Maryland estate planner, contesting a Maryland will can be a complicated process if you
If you are planning to serve as the personal representative for another person's estate, you should be prepared for each of the steps of probate. The probate process in Maryland could last anywhere from 6 to 9 months. However, this can be extended depending on the complexity of the individual estate. As the personal representative
If you’ve previously established a trust with the help of a Maryland estate planning lawyer, you might be curious about the process of revoking that trust. Just as the details of creating and funding the trust are very important for this vehicle to be legally valid, the steps you take to revoke a trust or
Putting together a trust is a smart move from an estate planning perspective. But before you schedule a meeting with your Maryland trusts and estate lawyer, consider how the role of trustee affects the management of your assets. A trustee plays a key role in handling your trust distributions and possibly even working with beneficiaries.
