Within the context of your overall estate plan, asset protection is an additional service that you can benefit from when partnering with the right lawyer. These are legal strategies and techniques used to shelter your personal financial assets from possible creditors. These should always be used in conjunction with more traditional estate planning techniques, such
Whether or not a revocable living trust is the right tool for you depends on your desires, needs, goals, exposure to estate tax and liabilities and capabilities. One of the most common misconceptions around using a living trust in Maryland is that creating a revocable living trust automatically governs all of an individual's assets. In
Establishing a living trust in Maryland is a task undertaken by people who intend to transfer ownership of their assets and properties such that this can be more effectively distributed to beneficiaries or heirs after they passed away. Can Revocable Trusts Be Contested in Maryland? A revocable living trust, also known as a living trust,
As a beneficiary of a recently opened Maryland estate, there’s no doubt that you will have questions about the important role that a personal representative plays in closing out the estate and getting paid for his or her time. These fees are in addition to fees to close out the estate in MD. Everyone who
Estate administration in Anne Arundel County refers to the formal process through which ownership of your assets passes from you to your beneficiaries. Every state has their own procedures in place that dictate what happens after a person passes away, and Maryland is no different. The person managing the administration of your estate will look
As a person creating your estate planning documents, you have a vested interest in ensuring that there are limited chances for someone to challenge the validity of these documents in the future. It's important to remember when working with a knowledgeable Maryland estate planner, contesting a Maryland will can be a complicated process if you
If you’ve previously established a trust with the help of a Maryland estate planning lawyer, you might be curious about the process of revoking that trust. Just as the details of creating and funding the trust are very important for this vehicle to be legally valid, the steps you take to revoke a trust or
Putting together a trust is a smart move from an estate planning perspective. But before you schedule a meeting with your Maryland trusts and estate lawyer, consider how the role of trustee affects the management of your assets. A trustee plays a key role in handling your trust distributions and possibly even working with beneficiaries.
Are you thinking about putting together a power of attorney in Maryland? Or have you been advised by someone that this is an important document to help protect your future? A power of attorney within the state of Maryland can be either limited or general in nature and it is important to know which of
For a will to be valid when you pass away, it must meet the terms of the state in which you resided. This is one big reason why using fill-in-the-blank forms sets you up for potential problems, as states have different rules about what must go inside a will. As you likely already know, a
