Trusts can be a confusing concept. Even well-written and easy to understand descriptions can be abstract. The best way to understand them is to look at what they can accomplish. Part of the reason they are so difficult to understand is because they can be used for so many different purposes. To get us started, here’s three examples of uses of trusts…
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.