How to Use a Private Family Trust Company in a High-Net-Worth Estate Plan
High-net-worth families face unique challenges when it comes to preserving wealth across generations. Traditional estate planning tools like wills and trusts provide a strong foundation, but for families with complex assets, significant business holdings, or multigenerational planning needs, additional strategies may be necessary. One option that has grown in popularity is the Private Family Trust
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The Legal Risks of DIY Estate Planning Platforms
In today’s digital age, almost everything can be done online—from grocery shopping to filing taxes. It’s no surprise that estate planning has also been pulled into the DIY trend, with countless websites offering low-cost, quick-fix wills and trusts. On the surface, these platforms look like a simple solution for protecting your loved ones. As compassionate
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Talking to Aging Parents About Wills: A Guide for Families
Conversations about aging, death, and inheritance are never easy. Many adult children struggle to bring up the subject of wills, estate planning, and long-term care with their parents. Yet, putting off these discussions can lead to confusion, conflict, and financial complications later. Why Wills Are Essential in Estate Planning A will is more than just
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Trust Decanting in Maryland: What It Is and When It Makes Sense
When most people think of estate planning, they picture wills, trusts, and powers of attorney. But estate law is not static; circumstances change, family needs shift, and tax laws evolve. That’s where an advanced planning tool called trust decanting comes in. If you’ve created a trust in Maryland and later discover that it no longer
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Artificial Intelligence and Estate Law: How Will Smart Wills and Blockchain Trusts Work?
As artificial intelligence (AI), blockchain, and digital automation transform every corner of the legal industry, estate planning is poised for disruption. The promise of “smart wills,” AI-generated documents, and blockchain-based trusts is creating buzz, offering futuristic solutions that claim to simplify, automate, and even eliminate the need for traditional legal processes. But as attractive as
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Modern Heir Disputes: When Estranged Adult Children Reappear After Death
The passing of a loved one can stir up emotions, memories, and in many cases, unresolved conflicts. One of the most delicate and legally complex issues in modern estate planning is what happens when estranged adult children reenter the picture after a parent’s death. These situations often trigger disputes over inheritance, especially when a will
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The Role of Life Insurance in Maryland Estate Planning: Protecting Your Legacy
Estate planning is one of the most important steps you can take to ensure your loved ones are protected and your legacy is preserved. For individuals and families in Maryland, life insurance plays an important role in a comprehensive estate plan. Read on to learn more from Blackford & Flohr. What Is Life Insurance? Life
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The Importance of Regularly Updating Beneficiary Designations in Maryland
When it comes to estate planning in Maryland, many people focus on drafting wills or establishing trusts. However, one of the most overlooked but critical aspects of estate planning is ensuring that your beneficiary designations are up to date. Failing to review and update these designations can lead to unintended consequences, including costly probate disputes
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How Often Should You Update Your Estate Plan?
Estate planning is not a one-time task but an ongoing process that should evolve with your life circumstances. Regularly reviewing and updating your estate plan ensures that your assets are distributed according to your current wishes and that your loved ones are protected. This guide outlines when and why you should revisit your estate plan,
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What Is the Difference Between a Will and a Trust?
When planning your estate, one of the most important decisions you’ll face is whether to create a will, a trust, or both. Each tool serves a distinct purpose in estate planning, and understanding the key differences can help you make the best decision for your family and your legacy. At Blackford & Flohr, a trusted
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