The Ins and Outs of the Maryland Inheritance Tax.

Maryland is one of only six states that levies an inheritance tax. (Maryland also imposes an estate tax, making it the only state to levy both.)   The good news is that close relatives are typically exempt from Maryland inheritance tax, and with proper planning, an experienced Maryland estate planning attorney may be able to

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How to Avoid Probate in Maryland.

There are several reasons why you might want your estate to avoid Maryland probate after you pass away. The probate process can be frustrating, time-consuming, and costly. In addition, probate is a public process, meaning anybody can get information about your debts, creditors, assets, and more. Probate can also take a very long time complete,

Contesting a Will in Maryland.

Wills are contested more often than you might imagine. This is why it is so important to have an experienced Maryland estate planning attorney design and implement your will and other crucial legal documents.   Let’s begin with a quick definition. When a person “contests” a will, he or she is asking the court to

What are Revocable Living Trusts in Maryland?

Understanding the Portability of the Estate Tax Exemption

Revocable living trusts are estate planning documents that can give the grantor (the person for whom the trust is created) complete control over his or her assets during life, in the event of in capacity, and after death.   Unlike a will, a revocable living trust is a legal entity that can own property. The

Who Inherits Property In Maryland If There’s No Will?

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When a person passes away without a will (or, in the case of certain assets, without designated beneficiaries), the decedent’s assets are distributed according to what is known as intestate succession. In this situation, “who gets what” follows strict guidelines established by the state of Maryland. Broadly speaking, these guidelines mandate that assets be distributed

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6 Ways to Minimize or Eliminate Estate Taxes.

Understanding the Portability of the Estate Tax Exemption

Let’s begin with a look at the numbers. The current federal estate tax exemption is $11.7 million for individuals and $23.4 for couples filing jointly. Assets in excess of these amounts will be taxed at a graduated rate between 18 and 40 percent depending on the size of the estate. In Maryland, the 2021 exemption

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The Role of an Executor in Maryland

In Maryland, an executor (also known as a personal representative) plays a crucial role when it is time to settle an estate and distribute assets after a loved one has passed away. Working with an attorney who has knowledge and experience in estate administration is also crucial, since the attorney can help make this complex

The Consequences of Not Probating a Will

Let’s start with some context. First, as we have noted in previous blog posts, probate is a court-supervised process whereby an individual’s debts are paid and the remaining assets are distributed to beneficiaries after the individual in question passes away. (The person who has died is known as the decedent.) Second, probate is not required

What is a Demand Letter?

As the name implies, a demand letter “demands” that the letter’s recipient take specific actions to resolve a conflict. Demand letters are frequently used by businesses to demand restitution or the payment of a debt, and they often serve as a precursor to a lawsuit. In general, a demand letter contains all of the following:

Maryland Estate Tax: What You Need to Know

Let’s start with the good news. The vast majority of us are not subject to federal estate taxes because the current threshold is $11.7 million for individuals and $23.4 for couples filing jointly. Unfortunately, the threshold for Maryland’s estate tax is considerably less. If a Maryland resident passes away in 2021 and has an estate