If you are the parent of a child or adult with special needs, you must be especially careful when creating your estate plan. You want to provide for your child, but leaving them money could interfere with any benefits they receive and result in tax liabilities....
Plan For The Future With Confidence
Plan For The Future With Confidence
Estate planning
How to build a successful special needs plan
Your estate plan is important if you are responsible for caring for someone with special needs. You want to know that their needs will be met even when you're not around, and a well-formed special needs plan is an excellent way to do so in Maryland. Your will and...
The most common estate planning mistakes in Maryland
While you may not want to make plans or discuss your death, estate planning allows you to protect both your assets and your loved ones. To ensure that the courts and your beneficiaries follow your wishes, avoid these common mistakes. Failure to plan Too many people...
Planning and writing a will and the steps involved
Creating a will in Maryland goes a long way in protecting your loved ones and ensuring the distribution of your assets according to your wishes. Take the time to consider your options and ensure that the necessary steps are taken to make your will legally binding....
Factors to consider when choosing a power of attorney in Maryland
Establishing a power of attorney is an essential element to consider when developing your estate plan in Maryland. This person or entity will have the ability to act on your behalf, particularly when it comes to matters of financial decision-making and health care....
Why Maryland parents should think about their estate plan
You already have plenty to think about as new parents in Maryland. One of the last things on your list of concerns might be your estate plan. But if you're not be thinking about what will happen to your child if one or both of you were to pass away, they may not be...
Trusts and Medicaid eligibility
Nothing is quite as stressful as the decision to place a loved one into a nursing facility. While dealing with their health issues is difficult enough, figuring out how to pay the astronomical cost of skilled nursing care in Maryland and around the country can make...
How you can benefit from a special needs trust
Special needs trusts are a popular financial planning strategy used in Maryland by those looking to assist someone in need without jeopardizing a person’s eligibility for programs that require recipients to have income or asset levels below a set limit. The trust will...
2023 federal estate and gift taxes
Estate planning could involve more than deciding what assets to leave beneficiaries. Maryland residents might wish to address some responsibilities associated with any tax implications following their passing. Understanding 2023 estate and gift tax rates could help a...
Special needs planning for families
Expenses can be high for families in Maryland that care for members with disabilities. Saving money works for most families, but many of them have to qualify and sign up for disability benefits. There are several solutions for people to care for children and adults...
