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...
Plan For The Future With Confidence
Estate planning
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...
Could confidence be a negative in an executor?
Finding the right executor (also known as a personal representative) to take care of your estate can sometimes be challenging. Not everyone has a lot of options to choose from. One thing you might consider important is finding someone who is confident. A certain...
What should new parents consider for an estate plan?
There are a lot of decisions new parents have to make, and some of those are overwhelming. One thing that some parents may not have thought about is their estate plan, but this is critical when a baby is born. An estate plan outlines who will receive which assets,...
What happens if you die without a will?
A will is a crucial legal document that states what happens to a person’s assets after they pass away. After a person dies, typically, their will is submitted to probate court and their assets are distributed to their beneficiaries. However, when a person dies without...
Spousal inheritance and divorce in Maryland: What to know
If you and your spouse will be divorcing in the near future or you’ve already begun the process, you may have had too much on your mind to think about your estate plan. However, if you have one in place, it’s important to understand how the divorce will affect it. ...
The main benefit of a special needs trust
A special needs trust is a specific type of trust used when you have a beneficiary who has a condition that means they will need extra care and assistance. This could be a physical disability, a cognitive disability, a developmental issue or something else entirely....
How estate planning protects long-time unmarried partners
If you and your long-time partner have decided that things are going just fine without taking the step of legally codifying your relationship, you aren’t alone. People make this choice for all kinds of reasons. While this can make a potential break-up in the future...
