Do You Have to Do Probate when Someone Dies? – Annapolis and Towson Estate Planning
For most of us, the first time we ever thought about probating a will is when someone in our family has died. So, what does it mean to probate a will?
Should I Discuss Estate Planning with My Children? – Annapolis and Towson Estate Planning
Many baby boomers may hesitate to discuss money with their children. However, the reality is that a massive amount of wealth will be transferred in the next couple of decades. Cerulli Associates estimates that about $68 trillion will move between generations within 25 years, with most of those assets transferred to Generation X households.
What are the Stages of Probate? – Annapolis and Towson Estate Planning
Although most assets in your estate may pass through the probate process, other assets may not. It often depends on the type of asset or how an asset is titled.
Get Estate Plan in Order, If Spouse Is Dying from a Terminal Illness – Annapolis and Towson Estate Planning
Planning for the death of a spouse is difficult and painful. It involves conversations that we don’t want to have.
Estate Planning Is Best When Personalized – Annapolis and Towson Estate Planning
When something is tailored to one’s needs, everything can go smoother.
Do You Know Your Job as Executor, Agent or Trustee? – Annapolis and Towson Estate Planning
Has a family member or close friend asked you to serve as their executor, trustee or power of attorney? If you accepted the responsibility, do you know what this entails? Have you been given a copy of the documents you were named under? Do you know when you would begin serving in these roles? These are all important questions to ask or consider.
How Much Power Does an Executor Have? – Annapolis and Towson Estate Planning
There are continuing misconceptions regarding what powers are held by a personal representative and when he can exercise them.
The Wrong Power of Attorney Could Lead to a Bad Outcome – Annapolis and Towson Estate Planning
When do you need your estate plan to ‘go to work’ for you? While you may think the right answer is ‘after I die,’ the actual answer is ‘if I lose the ability to manage my own affairs.’
What Estate Planning Documents Do I Need for a Happy Retirement? – Annapolis and Towson Estate Planning
Most people can't wait for retirement, and even more would likely opt for some form of early retirement, if they had the opportunity. Whenever you ultimately decide to cut down your time at work or leave the workforce altogether, you need to ensure that you have a full slate of estate planning documents in place.
What Does It Mean to Be an Executor? – Annapolis and Towson Estate Planning
It means you are in charge of managing the person’s assets after death, but what does it really mean? An executor has many roles and responsibilities. Executors should first understand it is a significant responsibility and not something to be taken lightly.