Written by Stephen C. Hartnett, J.D., LL.M., Associate Director of Education, American Academy of Estate Planning Attorneys, Inc. provided courtesy of Attorney Nicole Livingston What is a trust? Black’s Law Dictionary defines a trust as “An equitable or beneficial right or title to land or other property, held for the beneficiary by another person, in whom resides legal title or ownership, … [Read more...] about What is a Trust?
"What is a Trust" by Attorney Nicole Livingston … [Read more...] about What is a Trust? (Audio)
Wills are one of the most basic and important estate planning documents. It is used to provide comprehensive instructions to ensure protection of your legacy. Also, Wills can stop your family from fighting over your assets, and provide clear instructions for who should be in charge of estate administration. You want to ensure you create a legally valid Will to provide instructions for the future … [Read more...] about How Often Do I Need to Update My Will?
It’s helpful if you can let doctors know in advance what you want to happen if you can’t speak for yourself. An advance Health Care Directive lays out who you want to speak for you and what kind of treatments you want. In this way, you are prepared before health care decisions need to be made. You can make an Advance Directive if you are 18 years or older and capable of making your own … [Read more...] about Concerned About Being Too Sick to Make Decisions
"Why Medicaid Eligibility Matters If You Need Nursing Home Care" … [Read more...] about Why Medicaid Eligibility Matters If You Need Nursing Home Care (Audio)
Were you recently notified that you will be receiving an inheritance? If so, an inheritance can come hand-in-hand with conflicting emotions. An inheritance follows the death of a loved one, and especially in the event of a sudden or unexpected loss, may cause you to experience the grief that comes with it. On the other hand, an inheritance can often mean financial freedom for the recipient. A … [Read more...] about What Should I Do With My Inheritance?
"What Should I Do With My Inheritance?" written by The American Academy of Estate Planning Attorneys, shared by Attorney Colleen Sinclair Prosser … [Read more...] about What Should I Do With My Inheritance? (Audio)
Special needs trusts are essential when a person with disabilities has assets to protect. Whether the person with the disability has funds, receives funds from a personal injury settlement, or receives funds and property as a gift, the money must be managed carefully. It also has to be owned in an appropriate manner so the assets do not prevent or threaten Medicaid eligibility or eligibility for … [Read more...] about Special Needs Trusts
Trust administration occurs when a person has created a trust as part of an estate plan and the trust creator passes away. Assets held in the trust transfer through trust administration, rather than transferring through the probate process, and the steps involved in facilitating the transfer of trust assets are very different than in probate. In Maryland, trust administration has advantages … [Read more...] about How Trust Administration Works Better Than Probate
"Maryland Fiduciary Access to Digital Assets Act" by Attorney Jon. J. Gasior … [Read more...] about Maryland Fiduciary Access to Digital Assets Act (Audio)