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,…
What Young Parents Need to Know About Estate Planning
Young parents are always on the lookout for dangers for their children. Yet many overlook the crucial area of estate planning. Even if you are healthy and have modest assets, a few legal documents can offer a enormous amount of protection for those that depend on you. Here are the documents every young parent should have: Will. By drafting a will…
What Single People Should Know About Estate Planning in Maryland
Many people don’t think about estate planning until there is a spouse and children. While this is understandable, the need for estate planning is even greater for the unmarried. Estate planning lets you designate someone else to manage your affairs in case of injury, disability or death and put your wishes in writing. If you’re married and don’t have an…
How to Choose an Agent for Your Power of Attorney
A power of attorney lets you select another person that can act on your behalf to manage your property and money. In Maryland, the person to whom you are giving this power is called your agent (other places might call this person an “attorney-in-fact” or “proxy). Here are some considerations in selecting your agent. The powers given to your agent are…
Dangers of Do-It-Yourself Estate Planning
Your toilet won’t stop running and it’s driving you nuts. You’re feeling ambitious and instead of calling a plumber, you try to fix it yourself. You can save money, learn something, and maybe get it done more quickly. For similar reasons, many are taking this same do-it-yourself approach to estate planning. Online forms and software make it easier than ever to create…