Choosing an executor is one of the most critical components of creating your estate plan in Maryland. The person you name as your executor is responsible for distributing your wealth after your passing and making key decisions. When selecting your executor, you should...
Estate planning
Can a nonfamily member fund a special needs trust?
Families of individuals with special needs naturally explore ways to protect their loved one’s physical, mental, emotional and financial well-being. A common tool they may consider are special needs trusts (SNT). While there is usually little to no question as to who...
What legal options can be alternatives to guardianship?
Managing personal and financial needs can be challenging because of incapacity, often caused by age and various medical conditions. Seniors usually face both, making guardianship a viable option to keep them safe and cared for. However, courts can only consider this...
4 essential documents you need for estate planning
Estate planning may not be a priority for everyone, but it is a legal process that allows you to control your asset distributions and wishes if you pass away or become incapacitated. No matter your age or financial status, having an estate plan can be wise. If you are...
What to consider when appointing a guardian in Maryland
When setting up a guardianship, one of the most pivotal decisions is who to choose as the guardian. This role has significant obligations that can impact the ward's living situation, including their daily life, access to medical care and other living arrangements....
The pitfalls of skipping estate planning
Eventually, you along with most citizens of Maryland will have to take part in the estate planning process. While the process of ensuring that your assets go to the right heirs is in no way pleasant, it's something all responsible estate holders should complete. If...
Why use a corporate trustee for special needs trusts
A special needs trust often serves as a lifeline for individuals with disabilities or impairing health conditions, making it essential based on the circumstances. Parents who establish these trusts for their children may need to choose another person to be a trustee,...
What incidents can lead to claims against trustees?
Trustees have significant responsibilities in any type of trust, such as managing and administering assets. Some might consider their tasks mainly administrative, but their duties can pose vital implications for the trust's grantor and beneficiaries, often involving...
Securing a loved one’s needs: Establishing a special needs trust
Estate planning tools like special needs trusts provide immense relief to families facing concerns about the legal and financial security of a loved one with special needs. Specifically, this tool provides special needs individuals with long-term necessary resources...
Crucial estate planning tips for Maryland residents
Estate planning is the process of making arrangements for the management and disposal of your assets after you pass. To make your plan foolproof, here are some tips to keep in mind. Take inventory of all your assets You should have an account of everything you own at...