When you pass away, many of your assets are going to go through probate. But it is important to remember that not all of them are bound by this process. There are some assets that can skip probate entirely, often by transferring out of your possession upon your...
Plan For The Future With Confidence
Estate planning
3 signs it may be time to review and update an estate plan
Maryland estate plans help protect dependent family members and create a legacy for people who die. They can also outline medical preferences and grant legal authority to other adults in emergency scenarios. Estate plans may retain their authority indefinitely, but...
Add a spendthrift trust to your estate plan
When doing your estate planning, you may come to realize that certain heirs may need more restrictions placed on their future inheritances. While spendthrift trusts won’t be needed by every estate planner, they can come in handy for heirs who struggle with money...
What makes a durable power of attorney distinct?
Every person creating an estate plan has different needs. They have the option of creating numerous documents based on their family circumstances and personal resources. People creating their estate plans also typically need to think about emergency scenarios where...
Is it time to update your estate plan?
If you have an estate plan, it is excellent that you have taken steps to give your family guidance when it comes to distributing your assets, determining what type of medical care you need and things of this nature. Drafting a plan well in advance can help to avoid...
Using life insurance to fund a special needs trust
Worrying about a special needs family member is natural. Parents, grandparents and even siblings may want to take steps to ensure that a family member with special needs has financial support for the rest of their life. A special needs trust that addresses long-term...
What is testamentary capacity?
When drafting or modifying an estate plan, a person must have testamentary capacity. This generally refers to their ability to understand what they are doing, the legal choices they’re making and the impact of their decisions. They must be of sound mind, intentionally...
Why do young professionals need estate plans?
Professional success or starting a family are common reasons that people create estate plans. People who have six-figure incomes, spouses or minor children often want to ensure the right people inherit their resources or to protect their dependent family members. It...
A living will vs. a medical power of attorney
One important part of estate planning is to consider your medical needs in the future. The more planning you can do in advance, the better. This gives your family direction, ensures that your wishes are honored, and allows you to make a plan before there are any...
3 top concerns when naming a trustee for a special needs trust
Families may fund a special needs trust to protect vulnerable loved ones. A trust can provide supplemental support when someone tries to live independently or after the death of their parents or caregivers. A trustee must oversee trust resources and make appropriate...
