When you're leaving money to an heir with special needs in Maryland, you have unique considerations for the estate planning process. Knowing the differences among your options can help you adequately support a disabled heir after your passing. Special needs trusts and...
Plan For The Future With Confidence
Estate planning
Don’t make the mistake of waiting to discuss estate planning
Discussing income and wealth is something many people try to avoid, even your closest friends and family members. With the second-highest share of millionaires per capita of any U.S. state, 9.72% of all households, Maryland residents can benefit from better estate...
The planning of a life estate
As a homeowner in Maryland, you want your family to inherit your belongings after your death. A life estate guarantees their rights to your property and assets after you've enjoyed them. There are certain facts to understand before creating a life estate. General...
How seniors can avoid financial exploitation
Financial exploitation is a serious problem in Maryland and throughout the rest of the country. It can involve the misuse of an elder's financial and physical property. Abuse of this kind can come from relatives, caregivers, neighbors and others. There are certain...
Estate planning basics
Almost every Maryland adult could benefit from some estate planning. If you have some family and some assets, it’s a good idea to create an estate plan. Even if you don’t have any assets of value, your estate plan can set directives for your medical care and name a...
What to know about 529 plans in Maryland
529 plans are a highly common method of reducing taxes at both the state and federal levels. However, Maryland residents who are thinking of utilizing this helpful estate planning option should bear in mind that grantors are not allowed to make any alterations to a...
Utilizing a solid estate plan can be highly beneficial
Going through the estate planning process in Maryland is essential to ensure your wishes are completed in association with the distribution of your property. To do so, you'll need to closely examine all of your property and assets to come up with a plan meeting your...
Should I consider a charitable remainder trust for my estate?
If you want to diversify the types of trusts you have as part of your estate and ensure that some of your wealth goes to charities you support in Maryland, consider a charitable remainder trust (CRT). This financial instrument allows you to leave money to...
Estate planning for new parents
Learning that you’re going to be a new parent is exciting!. One of the first things you will want to do is to plan for the future. Planning your Maryland estate should be one of your top priorities as you will want to make sure your child's future is secure. Create a...
What does a third-party special needs trust cover?
Special needs planning covers a lot of what many Maryland people with disabilities require. An example of special needs planning is a disabled person moving out on their own with government assistance. Another is getting a specialized van for transportation. Asset...
