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...
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...
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 the limitations of a will is essential to...
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...
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 both the federal...
