It's hard enough to come to your own conclusions about what you want your estate plan to look like, which means that you've probably put off having a conversation about it with your family members too. But talking about estate planning is important for your sake and for your heirs. Some of the benefits of
Giving back to the community is important to everyone at Chesapeake Wills and Trusts. That’s why we’re donating 10% of the fee we receive from every new estate planning client who retains us through June 3 to the Baltimore Washington Medical Center (BWMC) Foundation. The BWMC Foundation is currently overseeing and coordinating all COVID-19 related
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 required minimum distribution in 2020 because of your age or because
Relying on joint ownership or a will alone might not be enough in your estate plan. This is why people are increasingly turning to the power of a revocable living trust. In addition to the time and cost savings, the added control over assets is a major benefit for most people who establish a living
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 recent Caring.com study incorporates
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 step down, or the death of the trustee. If
Sitting down with a Maryland estate planning lawyer causes many people to feel anxious. It is difficult to broach the subject of planning ahead for your own future or what will happen to your assets after you pass away. But every estate planner is simply helping you to articulate your plans for the future both
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 important documents that will help enable decision-making if you become unable to manage
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 trust governs all of the assets an individual owns. After the Maryland
Trustees in Maryland have specific responsibilities and duties when it comes to the administration of a trust. The Maryland Trust Act became effective in 2015. This law contains important provisions in relation to the rights of creditors to attach trust property, determining validity of a trust, the role of a trustee, and the trustee’s responsibility
