Thinking about what happens to your loved one after you’re gone can be difficult for any Maryland resident. This can be even more stressful if your loved one has special needs or is otherwise incapable of supporting themselves financially. Thankfully, there are estate...
Plan For The Future With Confidence
Estate planning
Are there alternatives to guardianship?
There may be some other routes to guardianship, a process where the court appoints someone to make financial and personal decisions for a Maryland resident with illness or a disability. The guardian may make choices in housing, food, education, medical care, or...
Mistakes to avoid when updating your estate plan
You already know the importance of establishing an estate plan once you have married, had a child, or accumulated wealth. However, updating your estate plan is just as important. Be careful about updating your plan, as many Maryland residents tent to forget certain...
The benefits of a special needs trust
A special needs trust allows a disabled individual to get the financial assistance they need without having to rely solely on government assistance. Setting up a special needs trust also means that your Maryland loved one will still be able to receive benefits such as...
ABLE account vs. special needs account: What’s the best option?
People who have disabilities often find it hard to do what's necessary to earn a living. If you're living with or caring for a disabled person in Maryland, it's important to know you have options regarding how they can save money. Two ways that people can provide an...
Why consider an irrevocable life insurance trust?
For people in Maryland thinking about planning for the future, an irrevocable life insurance trust (ILIT) may hold certain advantages. An ILIT can allow people to meet various goals, from reducing exposure to estate taxes to distributing insurance proceeds to a range...
Don’t make these beneficiary designation mistakes
Planning your estate is a critical exercise to undertake in Maryland. There are many details that you need to remember as you draw up your plan. You should also keep in mind how easy it is to commit a few key errors. You may not notice them at the time but they can...
How to estate plan when you have a blended family
Estate planning can be hard for blended Maryland families. There are a lot of extra steps that residents have to go through to ensure that their new stepfamily is taken care of. There are also a lot of questions to consider when it comes to the new spouse and any...
How to plan for your disabled child’s future in Maryland
If you have children with special needs in Maryland, it is in your best interest and theirs to ensure they'll be protected and well taken care of after you pass. There are steps you can take to accomplish this. They include: 1. Designating a guardian A guardian is a...
Power of attorney and guardianship: what’s the difference?
End-of-life planning can be daunting, especially when we think about how we want our final fishes to be carried out. You'll also need to come up with a plan for your loved ones to follow if you become incapacitated. If you're looking into power of attorney or...
