As you research your estate planning options in Maryland, you’ve probably heard that setting up a trust allows you to keep your estate out of probate. But is a trust the smart way to avoid probate, and should you bypass probate at all? Let’s examine these questions. Should You Avoid Probate? For regular estates in…

To avoid Medicaid claims or probate, you may consider gifting your home to an adult child or adding your child to your home’s deed. However, both options could lead to major legal and tax problems. Below, you’ll find the detailed answer to “Should I give my home to my child or add his or her…

You may look forward to taking a long-awaited break when you retire, but have you got your finances in order? Individual retirement accounts (IRAs) are one of the many financial tools you can use to plan your retirement. Read on to learn how IRAs fit into overall retirement planning and what you can do today…

If you move to a new state, will your living trust remain valid if you already set up a trust in your old state? Do living trusts work the same way in your new state? Should you hire an estate attorney to review your trust when you move? Keep reading to learn more about what…

Reverse mortgages are a double-edged sword. On the one hand, they can provide a steady income in your retirement. But on the other hand, a reverse mortgage loan is just that — a loan — with many of the associated downsides. How Do Reverse Mortgages Work? A reverse mortgage is a type of loan only…

Estate planning is a legal process in which you arrange the transfer of your assets after you pass away. If you run a small business, creating an in-depth estate plan that reflects your wishes is essential. Here are some of the reasons why small business owners need an estate plan: You Can Minimize Tax Exposure…

When someone passes away without a will or trust, many of their assets will go through probate before the state distributes the remainder to that person’s heirs. In rare cases when the state of Maryland can’t find a decedent’s heirs, the state will inherit the remaining assets. If you don’t have a will when you…

A revocable trust helps you protect and manage your assets during your lifetime and distribute them according to your wishes after you pass away. Your lawyer can advise whether a revocable trust is right for you and help you create an estate plan that serves you and your family. Keep reading to learn everything you…