Our readers in the Washington, D.C., and Baltimore area might be thinking about accomplishing big new tasks and goals in the new year. Perhaps for some, it is time to finally get their estate plan in order. If you are thinking about taking this important step, what...
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Estate Planning
Not having a will leaves family members vulnerable
People tend to procrastinate about estate planning. For people in Maryland, this can be problematic for many reasons regardless of their financial situation. Business owners, professionals and blue-collar workers alike should understand the value of having a basic...
Estate planning to ensure asset longevity
As you embark on your estate planning journey, you might find yourself thinking about the best way to make your wealth last. While you can specify to whom your assets will be left through your estate plan, many people neglect to consider what they can do to control...
What is a medical power of attorney?
There are several documents that may be included in your estate plan. Many people choose to include a medical power of attorney (POA) to assign a trusted person the authority to make medical decisions on their behalf if they are unable to make those decisions for...
Managing debts through estate planning
There are numerous misconceptions when it comes to creating an estate plan. Often, individuals believe that they must be old, ill or at the end of their life to create an estate plan. That is false, as creating an estate plan early in life can be very beneficial....
Creating a charitable trust
When people contribute to a charity during their lifetime, they may want to continue that support in an estate plan. A charitable trust is established to provide financial assistance to an organization or cause. This could include supporting the arts, education and...
Preparing to create an estate plan
Creating an estate plan may be something you have been thinking about for a while, but you may not know where to begin. The process of setting up an estate plan might seem so confusing or overwhelming that you keep putting it off until you are ready to tackle it. You...
Create a financial roadmap for your estate
An effective estate plan involves important legal documents such as a will, trust, and power of attorney. But your family member and heirs also need quick access to information on your accounts and where your documents are located. Estate planning, and preparing for...
What happens to my Facebook when I die?
Unless you are a Facebook power user, you may not think about Facebook very often, but chances are, you look at it a few times a day. In fact, if you actually tracked your usage, you may find that you use Facebook much more often than you would care to admit to anyone...
Picking the right trustee is important
When you estate plan, you have to make many, many decisions. You have to decide how your estate is divided, which heir gets family heirlooms, how assets will be distributed, how to minimize taxes, etc. Simply put, it is a lot. And, often, we lean on our family and...