How Do I Sue an Estate in Maryland?
There may be instances where you need to take legal action against an estate in Maryland. Reasons for this can vary widely, from being owed money by the deceased to disputes over the terms of a will or other estate-related disagreements. Understanding the legal framework and your rights is essential for effectively navigating these challenges. […]
Frequently Asked Questions About Estate Planning in Maryland
Estate planning isn’t just for the wealthy. It’s a crucial process that offers peace of mind by ensuring your loved ones are taken care of and your wishes are honored after you’re gone. At the Law Offices of Terri D. Mason, P.C., we’re dedicated to helping you navigate the often confusing world of estate planning. […]
Differences Between Limited Power of Attorney and General Power of Attorney
A power of attorney (POA) is a legal document that grants another person, known as your agent or attorney-in-fact, the authority to act on your behalf in legal and financial matters. There are two primary types of POAs: limited power of attorney (LPOA) and general power of attorney (GPA). Understanding the differences between these two […]
What Are Intentionally Defective Grantor Trusts?
An Intentionally Defective Grantor Trust (IDGT) is a unique type of irrevocable trust designed with specific tax advantages in mind, as established under Internal Revenue Code Section 671. While the term “defective” might sound concerning, it’s actually a strategic feature. In an IDGT, the grantor (the person creating the trust) retains certain powers over the […]
Estate Planning Steps You Can Take Remotely
In today’s digital age, you no longer need to leave the comfort of your home to take crucial steps in securing your family’s future. Estate planning, once synonymous with in-person meetings and stacks of paperwork, can now be initiated remotely. Let’s delve into how you can start this important process from the comfort of your […]
How is an Estate Valued in Estate Planning?
Estate planning isn’t just about writing a will. It ensures that your financial affairs are in order and assets pass smoothly to beneficiaries. A crucial component in estate planning is determining the fair market value of your estate’s assets. Understanding how valuations work enables you to make well-informed decisions about maximizing your legacy and minimizing […]
Estate Planning Travel Checklist
Traveling should be a time of enjoyment and relaxation. However, unexpected accidents and emergencies can mar a well-planned vacation. To ensure your peace of mind and safeguard your legacy while you’re away, having a solid estate plan in place is a non-negotiable. Here’s a comprehensive travel checklist to make sure your estate affairs are in […]
The Importance of Being Earnest (And Funding Your Trust)
Oscar Wilde’s celebrated play, “The Importance of Being Earnest,” is a witty comedy of mistaken identities and societal expectations. While estate planning might lack the play’s humor, it echoes the importance of careful planning and meticulous execution. An artfully crafted estate plan, especially regarding trusts, protects your wishes and ensures a smooth transition of assets […]
5 Reasons Not to Add Child to Your Deed
Adding the name of your child to your property deed might seem like a simple way to ensure the smooth transfer of your home and avoid issues like probate after you pass away. However, there are some significant potential drawbacks to be aware of before making this decision. Loss of Control Once you add your […]
How to Pass on Family Heirlooms with Fewer Estate Battles
The passing on of family heirlooms is a symbolic tradition, encapsulating the essence of familial history and values. These items, often steeped in memories and emotions, can, however, become sources of contention during estate divisions. To ensure these treasured possessions are handed down smoothly, and with minimal familial discord, a strategic approach is imperative. This […]
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