Oct 24, 2023 | Estate Planning
“I am not rich โ why would I need a Trust?โ A common misconception we often hear regarding Trusts is that Trusts are only needed by people who have substantial wealth. This could not be further from the truth. If you own a home, when you are gone, your home will...
Oct 10, 2023 | Estate Planning, Probate
There are five sets of death taxes that are relevant for Maryland residents: First, there is Final Personal Income Tax (Federal and Maryland), which refer to the income taxes that the deceased person would have had to pay in the year they died. This is something that...
Sep 26, 2023 | Estate Planning
Picture the following: you and your spouse decided that you would like to leave your home to your son. Your neighbor suggested the best way to do so was to add your son to the deed, so the child will be on the title when you pass away. You have the home retitled. ย ...
Sep 22, 2023 | Estate Planning
โI donโt need an attorney to draft my Will, Iโll just prepare one on the internet.โ We have seen far too many costly situations when someone died with an online-created Will or Trust. We were recently involved in a Probate matter where a gentleman created a Will...
Sep 12, 2023 | Estate Planning
We typically advise our clients to set two separate sets of deadlines to mark their calendar with. The first is a once-a-year personal review of the decisions that they made (decision-makers, beneficiaries, etc.) to account for any changes in life circumstances that...
Sep 5, 2023 | Estate Planning, Finance
Consider Irene, who recently became a widow when her husband, Henry, died. Like many married couples, they held the title to their home as Tenants by the Entirety. As a surviving Tenant by the Entirety, Irene automatically acquires all ownership and needs to update...