Tag Archives: estate planning
Three Things You Need to Do When Your Spouse Dies and Their Will or Trust Has a Disclaimer Provision
Losing your spouse is one of the most difficult things you might face in life. Although it is important to take time to grieve, there are also some crucial steps you need to take as soon as possible to address your spouse’s accounts and property and secure your own future. For example, if your… Read More »
Pros vs. Cons of a Beneficiary-Controlled Trust
Would you like to provide your children or loved ones with an inheritance but protect them from the risks that may accompany a large windfall? If so, you can create a beneficiary-controlled trust in which the person you name as the trust’s primary beneficiary has rights, benefits, and control over the property held by… Read More »
Ten Facts to Understand about Living Wills
A living will is not a last will and testament used to pass your assets and property after you die. Instead, it is a mechanism to communicate to your family and doctors how you want medical care conducted when you aren’t able to convey your wishes. Living wills are an essential part of an… Read More »
Want to Leave Your Retirement Account to Your Minor Child? Consider These Things First
Your retirement account may be one of the most valuable things you own. Many people consider naming their children as the beneficiaries of these accounts because they think it is a way of easily transferring their wealth if something happens to them. However, there are some factors that make this type of transfer more… Read More »
What Is the Effect of an Unrecorded Deed?
A deed is a legal document used to transfer real property ownership rights from one person or entity (the grantor) to another (the grantee). In many cases, this transfer occurs due to the property being sold, with the seller transferring the property to the buyer. Typically, a deed is recorded with the local county… Read More »
Three Celebrity Probate Disasters and Tragic Lessons
One would assume that celebrities with extreme wealth would take steps to protect their estates. But think again: some of the world’s richest and most famous people enter the pearly gates with no estate plan, while others have made estate planning mistakes that tied up their fortunes and heirs in court for years. Let… Read More »
What to Do if Your Trustee Is Unresponsive
A trustee has a duty under the law to communicate with beneficiaries and keep them reasonably informed as to the progress of the trust administration. In Maryland and the District of Columbia, such duty to inform may require the trustee to give beneficiaries a copy of the trust document, provide information regarding the anticipated… Read More »
Three Things You Need to Know about Cryptocurrency and Your Estate Plan
The popularity of cryptocurrency has rapidly increased in recent years, with more people buying and selling it. Here are three things you need to know about cryptocurrency in relation to your estate plan. Beware of the Tax Consequences Transferring your cryptocurrency to other people, either during life or at your death, could have income,… Read More »
LGBTQ+ Estate Planning to Protect Yourself and Your Loved Ones
Estate planning is for everyone. Regardless of your wealth, age, marital status, gender identity, or sexual orientation, it is crucial to have a plan in place to protect your money, property, and loved ones in the event of an accident, illness, or death. For LGBTQ+ Americans, estate planning can be even more important. Despite… Read More »
An Estate Plan Should Not Be a Set-It-and-Forget-It Endeavor
As we all know, life happens. There is really nothing we can do about it. However, some of the most common life events can have a dramatic effect on your estate plan. If you think your estate plan is like a slow cooker and you can set it and forget it, you and your… Read More »
