How can I Revoke an Irrevocable Trust? – Annapolis and Towson Estate Planning
I feel I was taken advantage of to the tune of $3,500, when I set up a trust.
What Is a Living Trust Estate Plan? – Annapolis and Towson Estate Planning
While a Last Will can help ensure that one’s wishes regarding the distribution of their estate upon death are followed, it is the living trust that allows the estate to avoid probate.
Should a Husband and Wife have Separate Trusts? – Annapolis and Towson Estate Planning
In situations where both spouses want the surviving spouse to inherit all the assets, which is often the case, a joint trust can be far less complicated to set up and maintain than separate trusts, with less headaches for the surviving spouse.
What is a GRAT and Does Your Family Need One? – Annapolis and Towson Estate Planning
During this crazy 2020 tax year, in addition to being faced with all the issues surrounding Covid-19, as well as the roller coaster ride of the stock market, we are also currently in an environment where the interest rates are as low as they ever have been.
Trusts: The Swiss Army Knife of Estate Planning – Annapolis and Towson Estate Planning
We may think of a spoiled heiress to a large fortune, whose parents were savvy enough to prevent her from having full access to her funds. On the other hand, we could imagine a loved one with special needs, whose needs will be provided for with trust-protected money.
How Do I Protect an Inheritance from the Tax Man? – Annapolis and Towson Estate Planning Attorneys
Did you receive an inheritance of cash, investments, or property? Here are four ways that can help you keep it from being swallowed up by taxes.
What Can a Strong Estate Planning Attorney Help Me Accomplish? – Annapolis and Towson Estate Planning
Too many people mistakenly believe that to have a need for estate planning, you must be old and wealthy. Nothing could be farther from the truth. Once you are a mature adult, independent, and income-producing, it is time to assume the responsibilities of preparing for your future. High on the list is preparing an estate plan with a clear understanding that your plan will be revised to adapt to changing circumstances.
How Does an Intentionally Defective Grantor Trust Work? – Annapolis and Towson Estate Planning
This type of trust can be established to benefit your spouse, children, grandchildren and other descendants. However, it may be more appropriate in some situations than others. Getting to know the details of what an IDGT is and how it works can help you decide if it makes sense for you.
What You Need to Know about Trusts – Annapolis and Towson Estate Planning
Generally, if you own property, have life insurance and/or have other assets which total over $150,000 (including life insurance and real property), you are a candidate for asset protection.
What’s the Difference between Revocable and Irrevocable Trusts? – Annapolis and Towson Estate Planning
Before taking a closer look at revocable and irrevocable trusts, it helps to know what a trust is. In simple terms, it’s a legal entity that allows you to transfer assets to the ownership of a trustee.