Estate planning may not be a priority for everyone, but it is a legal process that allows you to control your asset distributions and wishes if you pass away or become incapacitated. No matter your age or financial status, having an estate plan can be wise. If you are...
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Estate planning
What to consider when appointing a guardian in Maryland
When setting up a guardianship, one of the most pivotal decisions is who to choose as the guardian. This role has significant obligations that can impact the ward's living situation, including their daily life, access to medical care and other living arrangements....
The pitfalls of skipping estate planning
Eventually, you along with most citizens of Maryland will have to take part in the estate planning process. While the process of ensuring that your assets go to the right heirs is in no way pleasant, it's something all responsible estate holders should complete. If...
Why use a corporate trustee for special needs trusts
A special needs trust often serves as a lifeline for individuals with disabilities or impairing health conditions, making it essential based on the circumstances. Parents who establish these trusts for their children may need to choose another person to be a trustee,...
What incidents can lead to claims against trustees?
Trustees have significant responsibilities in any type of trust, such as managing and administering assets. Some might consider their tasks mainly administrative, but their duties can pose vital implications for the trust's grantor and beneficiaries, often involving...
Securing a loved one’s needs: Establishing a special needs trust
Estate planning tools like special needs trusts provide immense relief to families facing concerns about the legal and financial security of a loved one with special needs. Specifically, this tool provides special needs individuals with long-term necessary resources...
Crucial estate planning tips for Maryland residents
Estate planning is the process of making arrangements for the management and disposal of your assets after you pass. To make your plan foolproof, here are some tips to keep in mind. Take inventory of all your assets You should have an account of everything you own at...
What examples of guardianship abuse can require urgent action?
Guardianship is a setup that can protect an individual from endangerment often associated with incapacity. These risks can happen due to the ward's inability to make significant health or financial decisions for themselves. A guardian could responsibly take over, but...
What is the difference between a will and a trust?
When you begin estate planning, you will run into several terms you may not be familiar with, and the two most common terms will be will and trust. Both are Maryland estate planning legal tools, but how are they different, and how can you use them? A will, generally A...
What are the two types of public guardianship in Maryland?
Public guardianship is a law-enforced arrangement that gives another person or party the responsibility to make decisions for you, including concerns about your property or personal welfare. In Maryland, this program is open to elders at least 65 years old,...
