When doing estate planning, long-term care planning and Medicaid planning, it is important to consider the costs that you may face. These are going to be unique in every situation, depending on the type of care that is required. But understanding the averages can help...
Maryland Estate Planning Law Blog
Can you have a CalABLE and a Special Needs Trust?
A person with a disability may have both a CalABLE account and a special needs trust. When used correctly, these tools can provide financial support without automatically disqualifying the beneficiary from Supplemental Security Income or Medi-Cal. Consulting with a...
2 areas to consider when estate planning for digital assets
Estate planning for digital assets can become complicated. As these assets become more common for Americans, it is important to know how they work and if there are any special considerations. For example, cryptocurrency can be a very valuable digital asset. This is an...
Can you delay when someone gets an inheritance?
Yes, it is possible to delay when someone receives an inheritance. But you likely need to take steps to do this well in advance. After all, most people can directly inherit assets as soon as they turn 18 and become legal adults. If you leave $100,000 to a grandchild...
Estate tax vs inheritance tax: What’s the difference?
If you are planning your estate, you should know something about Maryland that sets it apart from the rest. Maryland is the only state in the entire country that imposes both an estate tax and an inheritance tax. Both taxes can apply to your estate depending on its...
Aging on your own? Planning is especially important
Those aging alone often think about the future in a very personal way because they know their support system may look different from others. Fortunately, legal tools are available to help solo agers stay in control throughout their senior years. This can provide peace...
What is an executor of the estate?
You may be asked who you want as your executor when drafting an estate plan. Simply put, an executor is responsible for managing your assets after you pass away. The role of executor is not a simple job that should be taken lightly. It can help to understand what an...
How is a living will different from a power of attorney?
Both living wills and powers of attorney can be used when creating an estate plan. Often, these are both set up to address future medical decisions. Though similar in focus, these documents both approach the issue much differently. With a living will, the goal is...
What duty of care does a guardian owe an adult ward?
People experiencing cognitive decline, dealing with dementia, diagnosed with serious brain injuries or struggling to manage significant mental health challenges may not be able to handle their own affairs. While it is often a last option after exhausting other...
Leaving an inheritance to a beneficiary with special needs
If you have a family member with special needs, you may certainly want to include them when you make your estate plan. You may know that they have a limited income, for example, or none at all. Leaving them an inheritance can be life-changing. The money may mean more...
