Addressing Vacation Home in Another State in Estate Planning – Annapolis and Towson Estate Planning
So why should you consider a more comprehensive plan than just leaving an out-of-state vacation home in your will?
What are Benefits of Putting Money into a Trust? – Annapolis and Towson Estate Planning
Grantor retained annuity trusts, intentionally defective grantor trusts, spousal lifetime access trusts, oh my! If you overhear two estate planning attorneys at a coffee shop, it would not be unreasonable to think that all clients have estate plans filled with trusts.
Do You Need a Revocable or an Irrevocable Trust? – Annapolis and Towson Estate Planning
There are two main kinds of trusts: revocable and irrevocable.
What Can a Trust Do for Me and My Family? – Annapolis and Towson Estate Planning
Trusts are often associated with the rich, but the uber-wealthy are not the only people who can benefit from using trusts. There is no minimum asset level or net worth required to set up a trust, and you can put any amount of money into a trust.
How Do You Pass Down a Vacation Home? – Annapolis and Towson Estate Planning
If you do not plan appropriately and thoughtfully, problems may arise with respect to this property and your family when you are gone.
How Do You Gift Your House to Your Children during Your Lifetime? – Annapolis and Towson Estate Planning
There are many ways to pass property on to children, including gifting the family home to them while you are still alive, bequeathing it to the children upon your passing, or selling the residence to your heirs.
Is Estate Tax Exemption Going to Change? – Annapolis and Towson Estate Planning
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
Do I Need a Living Trust? – Annapolis and Towson Estate Planning
What Is a Living Trust?
Do You Need a Revocable or Irrevocable Trust? – Annapolis and Towson Estate Planning
On the surface, the difference between revocable and irrevocable trusts couldn’t be any more straightforward. You can change your revocable trust whenever and however you choose. You can’t change your irrevocable trust at all.
Where Do You Score on Estate Planning Checklist? – Annapolis and Towson Estate Planning
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.