» Trusts
The Advantages of a Trust vs a Will
March 20th, 2025
When you are creating an estate plan, there are a variety of tools you can use to document your final wishes for your assets. Two of those tools are the Last Will and Testament and a trust. Understanding the advantages of a trust vs a will can help y…
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The Benefits of a Charitable Trust
February 19th, 2025
Many Maryland residents are interested in ways to leave a legacy after their deaths. Charitable trusts allow you to support causes you care about, reduce estate tax burdens on beneficiaries, and help you meet your philanthropic goals. They are also a…
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Categories: Trusts
What to Know About Discretionary Trusts in Maryland
January 28th, 2025
A parent of a disabled adult child may worry how the child will be provided for in the event the parent becomes disabled or dies. While a parent may want to be sure his or her child is protected, giving a disabled adult assets directly may be an invi…
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Categories: Trusts
What Is the Difference Between a Revocable Trust and an Irrevocable Trust?
July 22nd, 2024
You may know that a trust is a highly effective estate planning strategy, but do you know the difference between a revocable trust and an irrevocable trust? Depending on your lifetime financial needs and your estate planning priorities, a revocable o…
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Categories: Trusts
The Importance of Appointing a Personal Representative
February 22nd, 2021
As a general rule, if your estate includes any solely-owned property, it likely will need to go through a specific estate administration process under state law. The personal representative of your estate is the person appointed by the court to handl…
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Coronavirus (Covid-19) Reinforces the Need for Advance Health Care Directives & Durable Financial Powers of Attorney
March 24th, 2020
One of the risks posed by the coronavirus (Covid-19) is the potential incapacity (even if only temporary) of anyone infected by the virus. Elders and individuals with serious underlying health conditions are especially in peril. This real-life risk r…
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Should Your Maryland Estate Plan Include a Trust?
March 5th, 2020
Trusts are a very important tool in estate planning. They often are the best way to address an individual’s needs and wishes. Do you wonder if your estate plan should include one? While most people understand generally what a Last Will and Testamen…
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Does Every Maryland Estate Go Through Probate?
February 6th, 2020
In discussions about estate planning and estate administration, a basic question that many people ask is whether every Maryland estate must go through probate. Answering the question provides the opportunity to explain two commonly-used terms that of…
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How a Revocable Living Trust Protects Seniors From Elder Financial Exploitation
November 7th, 2019
Seniors are susceptible to financial exploitation and abuse from strangers, caregivers, and even family members. Savings accumulated over a lifetime can vanish in an instant. Putting assets in a revocable living trust is one way to safeguard assets a…
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What Is the Role of a Special Needs Trust or Supplemental Needs Trust in Maryland Medicaid Planning?
October 3rd, 2019
When an elder requires long-term care, Medicaid may provide financial benefits to help pay the high cost. In some cases, it is necessary to use special strategies and tools to be eligible for Medicaid benefits and preserve assets to the maximum exten…
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