What Is Included in an Estate Inventory? – Annapolis and Towson Estate Planning
One of the essential steps in the probate process is filing an inventory of all the assets that are part of the estate.
What Do Your Kids Want to Inherit? – Annapolis and Towson Estate Planning
While it might seem too soon to think about this uncomfortable topic, it’s still something that needs to be carefully planned to make everyone’s life a little easier as they handle the grief of losing a loved one.
What Is a Community Property Trust? – Annapolis and Towson Estate Planning
Getting a step-up in basis when each spouse dies can be a big tax advantage. It has not been available to those who live in common-law states. However, it may now be–through a community property trust.
How Much can You Inherit and Not Pay Taxes? – Annapolis and Towson Estate Planning
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.
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.
Is There Estate Tax on the Property I Inherited? – Annapolis and Towson Estate Planning
Real estate is one of the most common types of assets that pass from one generation to the next through inheritance. Whether you expect to inherit property or plan to leave some behind, it pays to be aware of the basic tax implications.
Remaining Even and Fair in Estate Distribution – Annapolis and Towson Estate Planning
We have money in savings and retirement accounts, but our most valuable asset is our home. We want to leave our property to our two children equally.
How Do I Deed My Home into a Trust? – Annapolis and Towson Estate Planning
You should go to an estate planning attorney to sort things out and make sure both of you are on the same page about who owns what, who gets to stay where and for how long into the future.
What Happens When Real Estate Is Inherited? – Annapolis and Towson Estate Planning
There are many questions that come with inheriting a piece of real estate. Do you want to live in it? Do you want to sell it? Do you have to split the property with another heir?