Category: Estate Planning


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?

what is elder law

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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Key Tips for Supporting A Loved One with Dementia

Key Tips for Supporting A Loved One with Dementia Are you caring for a loved one with dementia? One of the most challenging aspects of witnessing a loved one struggle with dementia may be the sadness and confusion an individual experiences, often exhibited through angry outbursts and belligerence. Let’s go over some tips that can

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Reasons Why Trusts Fail

Reasons Why Trusts Fail Did you know that trusts can often be touted as one of the most useful estate planning instruments? They can keep an estate out of probate. They can be utilized for tax planning purposes. They can be used as a vehicle for long-term care planning by structuring a person’s assets in

Think You Are Able To Avoid Probate? Three Common Mistakes We See

Think You Are Able To Avoid Probate? Three Common Mistakes We See Did you know there may be several tools you can put in place to avoid probate, at least in part? Due to the notoriously lengthy and often expensive nature of the probate process, many seek ways to avoid it. Unfortunately, however, there may

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Inherited 401(k)s: 6 Questions Heirs Need to Ask

Inherited 401(k)s: 6 Questions Heirs Need to Ask Did you know that an inherited 401(k) can be a lasting legacy, but the windfall should be handled carefully to maximize the inheritance and minimize taxes? Your relationship to the deceased and the 401(k) plan’s own rules can impact your options for managing the money. Step carefully,

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