In order for your estate planning documents to be effective, they need to reflect your current wishes and situation. If the will you had drafted ages years ago no longer reflects what you want, it may be as bad or worse than not having any will at all. That’s why it’s so important to regularly review your documents. That doesn’t…
Divorce and Estate Planning
The law makes a number of assumptions about estate planning and marriage. When divorce happens, some new assumptions are made, but they may not be what’s best for you. Here’s what you need to know about divorce and estate planning in Maryland. If your marriage is headed for divorce, you should get new estate planning documents as soon as possible,…
Estate Planning for Blended Families
If you or your spouse have children from a previous marriage, estate planning provides some added challenges. In Maryland if you die without a will, stepchildren won’t inherit anything if you are survived by your spouse, your own children, siblings, parents, uncles and aunts, cousins, cousin’s children. In other words, your stepchild almost certainly won’t inherit anything from you without…
A Guide for When You Need a New Will
You’ve already got your important estate planning documents drafted: a will, power of attorney and advance directive. They’re signed, in a safe place, and you’ve had discussions with your loved ones about where they are how they should be used. But it’s been a few years. Do they need to be updated? Your will, advance directive and power of attorney…
The New Maryland Trust Act
The Maryland legislature recently enacted a new set of laws, “The Maryland Trust Act,” that went into effect January 1, 2015. In large part, these new laws do not change existing law, but they help clarify existing law in put it into place. Prior to the Maryland Trust Act, much of the law on trusts was in the form of…