Revocable Trusts: Not Just for the Wealthy

Revocable Trusts: Not Just for the Wealthy

“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...
๐Œ๐ฒ ๐Ÿ๐š๐ญ๐ก๐ž๐ซ ๐ซ๐ž๐œ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฉ๐š๐ฌ๐ฌ๐ž๐ ๐š๐ฐ๐š๐ฒ. ๐–๐ก๐š๐ญ ๐๐ž๐š๐ญ๐ก ๐ญ๐š๐ฑ๐ž๐ฌ ๐ฐ๐ข๐ฅ๐ฅ ๐ˆ ๐›๐ž ๐ซ๐ž๐ฌ๐ฉ๐จ๐ง๐ฌ๐ข๐›๐ฅ๐ž ๐Ÿ๐จ๐ซ?

๐Œ๐ฒ ๐Ÿ๐š๐ญ๐ก๐ž๐ซ ๐ซ๐ž๐œ๐ž๐ง๐ญ๐ฅ๐ฒ ๐ฉ๐š๐ฌ๐ฌ๐ž๐ ๐š๐ฐ๐š๐ฒ. ๐–๐ก๐š๐ญ ๐๐ž๐š๐ญ๐ก ๐ญ๐š๐ฑ๐ž๐ฌ ๐ฐ๐ข๐ฅ๐ฅ ๐ˆ ๐›๐ž ๐ซ๐ž๐ฌ๐ฉ๐จ๐ง๐ฌ๐ข๐›๐ฅ๐ž ๐Ÿ๐จ๐ซ?

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...
๐‚๐š๐ฌ๐ž ๐’๐ญ๐ฎ๐๐ฒ: ๐‹๐ž๐š๐ฏ๐ข๐ง๐  ๐˜๐จ๐ฎ๐ซ ๐‡๐จ๐ฆ๐ž ๐ญ๐จ ๐˜๐จ๐ฎ๐ซ ๐’๐จ๐ง

๐‚๐š๐ฌ๐ž ๐’๐ญ๐ฎ๐๐ฒ: ๐‹๐ž๐š๐ฏ๐ข๐ง๐  ๐˜๐จ๐ฎ๐ซ ๐‡๐จ๐ฆ๐ž ๐ญ๐จ ๐˜๐จ๐ฎ๐ซ ๐’๐จ๐ง

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 ...