Category Archives: Estate Planning
HELP! This Probate Is Taking Forever!!!
After a loved one dies, his or her estate must be settled. While most people want the settlement process to be done ASAP, probate in Maryland, including Howard County, can take between 9 to 18 months, presuming there is no challenges to a Will or any litigation. Yes, you heard that right. The time… Read More »
Even Vampires Need Estate Planning
Yes, even the undead need an estate plan. After you stop laughing you need to hear me out. As we’ve learned from the likes of The Vampire Chronicles, the Twilight saga, and HBO’s True Blood, vampires aren’t immortal. They do die, and it’s usually unexpected and messy. While vampires aren’t good candidates for life… Read More »
Financial Smarts Peak at 50, Here’s How to Protect Your Older Self
A study conducted by Texas Tech University concluded that the ability to make smart financial decisions peaks at age 50. This decline was observed in both men and women, making both sexes equally vulnerable to financial fraud as they age. 4 Tips for Protecting Your Finances From Scams, Shams and Schemes as You… Read More »
3 Asset Protection Tips You Can Use Now
A common misconception is that only wealthy families and people in high risk professions need to put together an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances. Below are three… Read More »
Wills for New Parents: What You Need to Know
As a new parent, you naturally want to guarantee your new baby’s future in every way. For many new parents, infancy is a time for celebrating new life, and making a will is the last thing on their minds. For others, the process of bringing new life into the world sparks intense feelings of… Read More »
Is a Payable on Death Account Right for You and Your Family?
Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. What is a Payable on Death Account? A POD account is a type of bank account authorized by state law which allows the account owner to designate one or more beneficiaries to receive… Read More »
Intestacy: If You Die Without a Will in Maryland, Does Your Spouse Inherit Your Entire Estate?
If you are married and you die without a will in Maryland, you may mistakenly believe that your spouse will still inherit your entire estate. Not so fast. Who will inherit your estate depends on several different factors. 3 Factors that Determine What Happens to Your Estate if You Die Without a Will… Read More »
Warning: If You Own Property This Way, You May Accidentally Disinherit Your Own Children
Owning property as Joint Tenants with Right of Survivorship is easy, common, and often disastrous. Sadly, children – both minor and adult – are often disinherited. While there are several forms of joint ownership, the one most people use (and the one considered in this blog) is called Joint Tenants with Right of Survivorship. When… Read More »
5 Reasons Why Uncle Fred May Not Make a Good Trustee
If you have created a dynasty trust that you intend to last for decades into the future, choosing the right trustee is critical to the trust’s longevity and ultimate success. Initially you may think that a family member, such as a sibling (“Uncle Fred” to your children, who are the initial beneficiaries of your… Read More »
Surprise! You Can’t Easily Disinherit Your Spouse in the U.S.
Believe it or not, in Maryland it isn’t easy to disinherit your spouse. But the same is not true for other family members – generally, you can use your will or trust to disinherit your brothers and sisters, your nieces and nephews, or even your very own children and grandchildren. However, in Maryland, the… Read More »
