Is It Time for a Living Trust?
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...
What Role Does an Executor Play in Maryland Probate Proceedings?
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...
What Happens If There Is a Conflict Over My Trust?
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...
The Importance of Trusting Your Fiduciary
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...
Should You Give Gifts to Grandchildren in A Trust?
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...
Talk to Your Family Members About Your Estate Planning Intentions
You might not want to think about what your own estate plan entails, which means you could put off having a good conversation with your loved ones about it. It’s very nerve-wracking when no one your family, including your elderly parents, will discuss their estate...
You Need to Be Prepared to Discuss Estate Planning with Your Family Members
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...
We’re Giving 10% of New Estate Planning Fees to the Baltimore Washington Medical Center Foundation
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....