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A trust could help you transfer your property and assets to your heirs quicker than through a will. As noted by Kiplinger's Personal Finance, a will requires probate court involvement that oversees the transfer of assets to heirs. If you own complex properties, for...
Appointment as the executor of an estate comes with a responsibility to carry out the deceased’s wishes. Known as fiduciary duty, legal ramifications exist for breaching that duty. It is important to understand fiduciary duty and what it means to breach that duty....
You may think of estate planning as the final determination of your will and your asset distribution. You may not think that your family would contest your will, but there are situations when a family member might choose to do so. There are some steps that can reduce...
A durable healthcare power of attorney (POA) together with a POA for finances is a smart choice for managing your medical and financial needs. POAs are important items in your estate planning toolkit. How do they work and what are the benefits to you as the principal?...
No matter your age or family situation, having an estate plan is a must. Writing down your wishes for your family can be the best gift you can give them. A basic estate plan only requires three documents to cover the broadest issues. They include: A Last Will and...
Part of the estate planning process is choosing a personal representative. This individual is the person who would administer your estate upon your death. A personal representative, also called an executor in some states, has many important duties. Keeping in mind the...
Without a will, Maryland’s laws recognize an individual as dying “intestate.” The MDCourts.gov website notes that the probate process may settle your affairs if you have no will. A judge could supervise the distribution of your assets to your closest living relatives....
As seniors grow older, some may require assistance from relatives or health care professionals. Unfortunately, the people who should help seniors sometimes take advantage of them instead. Financial exploitation is a form of elder abuse that many seniors fail to report...