Choosing the right health care agent is the centerpiece to an effective advance directive. Your health care agent makes medical decisions on your behalf if you are unable to make them yourself. Similar to choosing a personal representative, your health care agent should be someone you trust and who understands your values. In Maryland, your health care agent must be at…
Do You Need a Living Trust in Maryland?
Living trusts are sometimes hyped as an easy fix to several different estate planning problems at once. “Save money! Avoid probate! Ensure privacy!” At least in Maryland, these promises require qualification. Living trusts are sometimes more trouble than they are worth. They can be effective estate planning tools for some people, but you should be suspicious of anyone who claims…
Important Change to Maryland Estate Tax
Good news for Maryland residents with estates over $1 million: Maryland will soon let residents pass more of their wealth free of estate tax when they die. Maryland hopes that by reducing the amount of estate taxes owed, fewer residents will leave Maryland for states with lower or no estate tax.