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 or
A will protects your family and your assets and yet plenty of Americans don’t have a power of attorney or a will. During the accumulation years, or the time period you spend working and earning money, there are many different phases of your life that you may encounter, including donating to charities, owning a small
Many people worry what will happen to their home and their children’s inheritance if they ever need to go into a nursing home. Nursing homes and other long-term care facilities are exceedingly expensive, and Medicaid requires you to meet stringent limits on income and assets. This is where Medicaid planning comes into play. The Medicaid