Category Archives: Estate Succession Planning
Make Sure You Nominate The Right Trustee
A trust is one of the most common estate planning tools used in the U.S. today, partly due to its adaptability to any number of situations. A trust may be revocable or not, inter vivos (“living”) or not, and it may be aimed at specific beneficiaries. However, a trust, no matter how well executed,… Read More »
Can Someone Tortiously Interfere With A Maryland Inheritance?
When someone passes away, and they leave a will, it will normally be submitted to the Orphans’ Court (the probate court in the state of Maryland) and then admitted to probate once its authenticity and validity has been established. The law does allow any of the decedent’s heirs or ‘legatees’ to file what is… Read More »
Maryland Court of Appeals Recognizes Tort of “Intentional Interference” with an Inheritance
The purpose of any estate plan is to distribute your property according to your wishes. So what happens if someone interferes with those wishes? Many states have recognized a specific kind of tort claim known as “intentional interference with an inheritance or gift.” Indeed, just recently the Maryland Court of Appeals decided to recognize… Read More »
What Is a “Confidential Relationship” When It Comes to Maryland Estate Planning?
When it comes to estate planning, Maryland law imposes a heightened duty on anyone deemed to be in a “confidential relationship” with the person who is making the plan. For example, an estate planning attorney is always in a confidential relationship with their client. This means the attorney must act in the client’s best… Read More »
Maryland Adopts Changes to Spousal “Elective Share” Rules
The Maryland legislature recently made significant changes to the state’s “elective share” law. The elective share refers to the right of a surviving spouse to receive a share of their deceased spouse’s estate, notwithstanding the provisions of the deceased spouse’s will (or intestate succession law if there is no will). Under existing law, the… Read More »
Will My Heirs Have to Pay Maryland’s Inheritance Tax?
Maryland is one of the few states to collect an inheritance tax as part of the probate process. This means that you need to be aware of what types of inheritances are considered taxable as part of your own estate and succession planning. And while the prospect of your heirs paying any tax at… Read More »
What Is the Difference Between Probate and Non-Probate Assets?
A key concept when it comes to understanding estate and succession planning is the difference between probate and non-probate assets. Basically, a probate asset is something that passes under the terms of your last will and testament. Now, you might think that everything you own is a probate asset, but in many cases that… Read More »
