Engaging in estate planning before remarrying can resolve many issues the couples might face. Through open and transparent discussions, each person can develop an estate plan that meets his or her goals and desires while considering the other person’s feelings and needs too.

A trust is a legal entity that can own title to property. The trust is established by a settlor (the person who transfers property to the trust) for the benefit of the settlor and/or other beneficiaries. A trustee appointed by the settlor manages the property according to the terms of the trust. A settlor can serve as the trustee under many trust agreements. A trust is a way to separate legal title for property from the individuals or entities who receive the benefits of the property.

Through a will, you can appoint a guardian for your minor children and set up a testamentary trust for your children. A will’s primary purpose in an estate plan is to ensure your property is distributed after your death in accordance with your wishes. Many individuals who have a will might assume that they need not take any further steps to safeguard their estate plans. However, some property does not pass through your estate. It may pass directly to a beneficiary or a joint owner.

Single parents have unique challenges when developing an estate plan. In most cases, their overriding goal is to provide for the care and upkeep of their children should they pass away while their children are still minors. With that in mind, below are three essential estate planning questions that all single parents ask themselves when they begin developing an estate plan.

Estate planning has numerous benefits for you and your loved ones. With a comprehensive estate plan, you can protect your property and your heirs. One of the common reasons many people create estate plans is to address tax matters. However, without the assistance of an experienced Maryland estate-planning attorney, an individual could make big tax mistakes that are costly for those the person is trying to protect.

Managing your digital afterlife has become an important part of estate planning for many individuals. In addition to planning for transferring digital assets, many individuals are also concerned about their digital footprint after their death. Experienced Maryland-estate planning attorney should be able to discuss handling digital assets and your digital footprint in relation to your estate planning goals.

Accumulating wealth and protecting wealth are two estate planning goals shared by most individuals, regardless of the size of their estate. If you are searching for ways to increase your estate to leave a substantial legacy to your heirs, look at some of the estate planning secrets wealthy individuals use as they develop and execute a comprehensive estate plan.

Estate planning for parents is a crucial step in providing for the future care of a special needs child, especially if parents want to avoid risking their child’s benefits. A child receiving public assistance or disability benefits could lose those benefits if they inherit large sums of money or property. With careful estate planning, parents can provide for the financial needs of their child while keeping their benefits intact.

An important element of estate planning is planning for the future of a person with special needs. There are several tools a family can use to protect a loved one. One of the newest special needs estate-planning tools that many families are discussing with their Maryland estate-planning attorney is the ABLE account. If you have never considered an ABLE account, you may want to discuss one with your lawyer.

You have several options if you want to protect your assets and your loved ones in Maryland. A Maryland estate-planning attorney can help you sort through your options and develop strategies for optimizing the types of documents we can use in our state.

Maryland law provides many options to create a trust as part of your estate plan. Depending on your situation, one or more trusts may be in your best interests. Trusts are complex documents that can have life-long effects for you and your beneficiaries, so care must be taken in choosing and drafting your trusts. A Maryland estate-planning attorney can work with you to help you decide which type of trust or trusts best meet your needs.

People in Maryland can write practically whatever terms they want in their wills, but that does not mean the probate courts will honor those terms. Let's say that you want to leave nothing to the person who would ordinarily inherit a portion of your estate. You might be angry at the person, or you might have agreed, for example, with your spouse, that they will take nothing under your will. Take it from a Maryland estate-planning attorney—this may not be entirely legal.

Estate-planning can be an overwhelming process to consider. However, with a little knowledge, you can have your estate-plan prepared in no time, leaving you with one less thing hanging over your head. In this video, Steve Thienel answers the top 5 estate-planning questions people ask every day.

In the Tax Cuts and Jobs Act of 2017, Congress greatly increased the federal estate tax exemption. The tax bill doubled the federal estate tax exemption to $11.18 million for 2018. At the time of passing the tax bill, Maryland and DC intended to match the federal estate tax exemption amount. DC was set to match the federal estate tax exemption in 2018 and Maryland would match the federal exemption amount in 2019.

If you have an estate plan, resolve to review the plan with your Maryland estate-planning attorney. If you have no estate plan, resolve to devise an estate plan in 2019 that reflects your wishes and desires for your future and your family.

Several events should trigger a review of your estate plan, such as the birth of a child, a divorce, or the death of an heir. Another reason to review your estate plan is a change in the tax code. When Congress passed the Tax Cuts and Jobs Act (TCJA), I received numerous calls from clients with questions about how the changes to the federal tax code impacted their estate plans.

The purpose of an Advance Care Directive is to carefully explain how you want medical decisions to be made for you in the event you are unable to make the decisions for yourself. Even though you can locate forms for an Advance Care Directive online, preparing this important legal document without the assistance of a Maryland estate-planning attorney can result in your health care wishes being ignored.

Some of your property might not go to the people you wanted to get those things because of events that happen over time, which is why you need a residuary estate clause.

Estate planning is an important process for individuals regardless of their wealth, marital status, age, or health. An estate plan is much more than simply directing who will inherit your assets upon your death. A comprehensive estate plan can lower or eliminate estate taxes, protect assets from creditors, provide for incapacitation, protect a family member with special needs, and much more.