How to pay for nursing home care in Maryland: this is a common concern of so many families as their parents get older. In this article, we'll cover the three main ways you can pay for nursing home care in MD, and a few options you may not have considered. And, we have a companion
If you have a loved one who is currently serving as the executor of a parent's estate and both of those parents have now passed away and a trust is established, you may have questions about the powers of the trustee when it comes to selling property. If a person is serving as both
One of the most common reasons to engage in estate and elder law planning is to preserve your assets while still qualifying for long term care benefits provided by Medicaid. Many individuals who are getting close to retirement age look for options, such as passing on properties or assets to another family member. There is
A legal document that names what will happen to your assets after you pass away is an important part of the estate planning process. There are many different benefits associated with creating a trust and this article discusses three clear benefits about creating a living trust. This includes enhancing the privacy level of your overall
In Maryland, as in many other states, probate refers to the legal proceedings that are initiated to administer a deceased individual's estate. You could have been named as executor or personal representative of the estate through the decedent's last will and testament. In the event that the deceased party passed away without this important document,
Having all of your estate planning documents on the same page is one important step towards ensuring a smooth transfer of your assets during your life if needed and after you pass away. A trust and a will are distinct legal documents that might share a common goal of accomplishing your comprehensive estate plan. A
When you plan to create a trust in Maryland, your main concerns are that the trust serves a bigger estate planning purpose and that it protects your loved ones from unnecessary conflict or issues. The creation of a trust means that you have taken an important step in protecting your assets and ensuring the smooth
When you create a trust, you’re not just thinking about the property you’ll place inside of it, but who will be responsible for managing it. This person is known as the trustee and they hold an important fiduciary duty to act on behalf of the beneficiary’s best interests. A fiduciary is a person who has
Do you have an adult child you’d like to transfer assets to, but you’re concerned about their ability to handle it properly? You’re not alone. This problem is often referred to as “the spendthrift issue” and thankfully, there are estate planning tools available to help you protect a loved one from themselves. Unfortunately, your best
It’s a nice thing to do to pass on assets to your grandchildren and it can be used to help reduce the size of your estate. In 2020, you can give each of your grandchildren up to $15000 under the gift tax without having to report those gifts. While you might choose to otherwise pay
