As you go throughout your life and plan ahead for your future years, asset protection becomes important alongside your estate plan. Having built your life or even your business in Maryland, you must think about how your own accumulation of wealth and assets might be perceived by others. In looking at your total financial life,
Planning ahead for your own mortality can be scary, because not only do you have to think about your own death but also you will need to articulate these thoughts into a legal document. However, estate planning is an important step in being able to protect your inheritance and your intentions. There are important differences
All families have to deal with the complications of life and unexpected challenges can how much effort you put into your planning. But by working directly with an estate planning lawyer to ensure that your documents are properly drafted, then there is no need for additional complications, confusion or frustration such as those that occur
If you didn't already know that trusts help to provide you with additional privacy in the estate planning process, an estate planning attorney could tell you that these are some of the most valuable strategies available today. Two major reasons for putting together a trust in 2019 have to do with the the goal of
Are you curious about a trustee's duties after the trust creator or grantor passes away? There are both practical and legal responsibilities associated with this important role that are triggered immediately after the grantor passes away. First of all, the trustee must review all of the deceased's important papers. Sometimes key details, such as funeral
Trusts are powerful estate planning tools, although they are often overlooked by many people due to the perception that trusts are only for the rich. However, trust can be a meaningful option for everyone, specifically because they are a better option than probate. Having your loved ones go through Maryland probate is rarely in their
Estate planning means thinking about more than what happens to your property after you pass away. It also includes preparing for incapacity because there are many different issues that need to be addressed if you are unable to make decisions on your own. If you experience an incapacitating event, another person might have to step
The first step to having assets officially owned by a living trust and not by you personally is to set up a living trust. However, don't forget the second and crucial step of funding a living trust, which involves making sure that the assets are transferred into the trust and officially owned through it. When
Trusts as an estate planning tool have become even more important in light of recent tax law changes and the growing desire for privacy and additional planning opportunities. Trusts have been the cornerstone of many wealthy families' estate plans as individual trust grantors and creators want to enhance the privacy maintained by their individual family.
If you pass away with a will or fail to take extra care in your estate plan, certain assets will end up in Maryland probate. Although this is the official process for closing out your estate, you might not want your heirs to have to work through probate and deal with the additional costs
