What Happens if You Die Without a Will in Maryland?
No one wants to think about his or her own death, but it’s a fact of life. You’ve worked hard all of your life and want your assets to go to your loved ones. If you don’t have a will, the state of Maryland decides who gets your worldly goods. That may not match your
Read More
How to Establish Power of Attorney for Medical Emergencies
Power of Attorney Emergencies strike out of nowhere. If a person is so badly injured or sick that he or she cannot make medical decisions, an individual with a power of attorney can perform these duties. In Maryland, separate documents are required for healthcare and financial power of attorney. The former document for health care
Read MoreCreating a Living Trust in Maryland
People are increasingly turning to living trusts because of the flexibility of these estate planning tools. Also known as inter vivos trusts, a living trust permits you to place your assets in the trust while still controlling the property during your lifetime. The trust owns any assets placed in it. However, you can name yourself
Read MoreInheritance Tax in Maryland: How to Deal With It
Maryland is one of just two states imposing both an estate and inheritance tax. The other is nearby New Jersey. You do not have to worry about the latter tax if you inherit money from your spouse, parents, grandparents, siblings, or step parents. Property left to charity is also not subject to inheritance tax. However,
Read More
