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 estate taxes.
Vermont senator Bernie Sanders has introduced legislation that would require more estates to pay estate tax and that raises the amounts they would pay. Another proposed law would eliminate the step-up in basis that inherited assets currently enjoy.
Filing with the Maryland Register of Wills can be confusing. This article discusses the Maryland register of wills forms and everything you need to know before filing. If the decedent did not have a will, read our article on intestate succession (dying without a will). And if you're new to the MD court system, be
A question asked all the time is, "What's the difference between the Orphans' Court and the Registrar Wills?" In most jurisdictions within the state of Maryland they're actually in the same place, sometimes they even use the same office space. It can be really confusing. The short answer is that the Register of Wills is
Many people are under the impression that a will is unnecessary, particularly if they assume that they do not have valuable or enough assets. The truth is that everyone needs a will, and creating one now makes things easier for your beneficiaries. Creating a will in Maryland is best accomplished by sitting down with an
The Orphan's Court in Maryland reviews wills to determine whether or not they are in compliance with state laws. A will is legally valid when it meets all the terms and requirements of Maryland law. In the event that this analysis finds that the will was properly executed, the will's terms will be carried out
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 are planning to serve as the personal representative for another person's estate, you should be prepared for each of the steps of probate. The probate process in Maryland could last anywhere from 6 to 9 months. However, this can be extended depending on the complexity of the individual estate. As the personal representative
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