Archive: Estates and Trusts

Trusts and wills are both popular estate planning tools for managing and distributing assets after death. There are some similarities and many differences between trusts and wills. We’ll highlight 10 of the most frequently asked questions about trusts and wills. 1. What is a trust and what is a will? Let’s start with the fundamentals....

When we navigate estate planning documents with our clients, there is a dizzying array of roles and positions within the documents. With the Academy Awards just last weekend and movies on our mind, we present the Estate Planning Cast of Characters, our handy reference guide to who will have roles to fill in an estate...

We are taught from an early age to respect our elders.  And indeed, we love our aging relatives.  We take time away from work and  other activities to care for them and assist them.  Yet one of the most commonly-challenged probate issues arises from compensation that a family member took prior to a decedent’s death...

Cinema and television love to dramatize death.  And what could be more dramatic than feuding family members sitting in suspense around a lawyer’s conference table about to learn the contents of the Will of the dearly departed?  The Will is read out loud and all would learn together who has been disinherited and who was...

With a new year comes updated exemptions for estate tax exclusion and gift tax for 2023. What is the “estate tax exemption” and where is it going in 2023? The estate tax exemption is the amount of non-charitable bequests that can pass tax-free to someone other than your spouse upon your death. For 2023, the...

Maryland’s “Statute Against Financial Exploitation Act” (SAFE) was enacted in October 2021. In the past year, it has proven to be a valuable additional layer of protection for Maryland seniors. What gave rise to the SAFE Act? Troublingly, in recent years, there have been growing numbers of seniors targeted for financial exploitation. Some seniors were...

In a recent Maryland appellate case, a husband was ordered to make a lump sum payment of $7 Million to his ex-wife for engaging in adultery, which led to the dissolution of the marriage. Here we provide some information about the case, and when couples might consider a postnuptial agreement (a “post-nup”). What Is a “Post-nup”? A...