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…
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.