I frequently stress to clients that comprehensive estate planning involves more than just creating a Will or establishing a trust. One of the simplest ways to ensure that loved ones receive assets quickly is through a Payable on Death (POD) account because a POD account allows you to name a … [Read more...]
How to Handle the Pressure to Gift Equally in Your Maryland Estate Plan
When I meet with clients who have adult children, a common concern often emerges. Parents who have more than one child frequently feel pressured or compelled to divide their estate assets equally among their children. If you are one of these parents, you may be worried that the concept of “fairness” … [Read more...]
Protecting a Child’s Inheritance When You Remarry
I frequently meet with clients who have gone through a divorce and are planning to enter into a second or subsequent marriage. While beginning a new chapter in life can be exciting, doing so with children from a previous marriage brings both opportunities and complexities, especially when it comes … [Read more...]
Top 5 Reasons to Include Probate Avoidance Tools and Strategies in Your Estate Plan
Probate is the legal procedure through which a decedent’s estate is administered, debts are paid, and assets are distributed to beneficiaries and/or heirs of the estate. While probate serves an important function, it can be a time-consuming and costly process that people often try to avoid when … [Read more...]
Is a Trustee Paid for Administering a Trust?
When I meet with a client who is new to the role of Trustee, they (understandably) have numerous questions about the role they have agreed to fulfill. One of those questions typically relates to whether they will be paid for acting as Trustee. With those clients in mind, I put together some general … [Read more...]
Why a Pet Trust is Essential When Planning for Your Pet’s Future
When working with clients on their estate plans, I urge them to think about their pets in that plan right along with their human loved ones. Pets are family members too, and their well-being should not be overlooked. I find that people often think that including their pet in their Last Will and … [Read more...]
Mistakes to Avoid After Receiving an Inheritance
As an estate planning attorney, I often find myself providing legal counsel and advice to clients who recently inherited money or other assets. Receiving an inheritance can provide financial security or allow you to achieve long-term goals, but it can also be problematic in the hands of a … [Read more...]
Top 5 Estate Planning Mistakes and How to Avoid Making Them
When I meet with clients, I stress to them that estate planning mistakes can be costly, both in terms of time and money. Working with an experienced estate planning attorney is the best way to ensure that your estate plan is free from mistakes and works as intended. Allow me to explain some common … [Read more...]
How Do I Disinherit Someone in My Maryland Estate Plan?
Most of the time, clients seek my advice and guidance regarding how to ensure that loved ones do receive assets from their estate after they pass away. Sometimes, however, I have a client who wants to ensure that someone does not receive an inheritance from their estate. You have an absolute right … [Read more...]
Understanding the Stages of Estate Planning Throughout Your Lifetime
I am frequently asked to explain to clients that estate planning should be an ongoing process that evolves as you move through the different stages of your life. After all, the financial and personal concerns you have in your 20s will be vastly different from those you face in your thirties, … [Read more...]
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