In the United States your estate may owe taxes when you die. In 2019, the State of Maryland Estate Tax Exemption is $5 million. The Federal Estate Tax Exemption is $11.4 million. Unless your assets at your death exceed either exemption, your estate does not…
People often consider who they want to inherit their estate when they die. Fewer people consider, in the event they create a trust, that they need to appoint someone to be in charge. The person in charge, called a Trustee, has a fiduciary duty to…
The needs of a loved one in a nursing home care can be overwhelming. You have to worry about the medical problems that made it necessary for a nursing home. That person may need extra love or attention acclimating to a new environment. The nursing…
When your outlook on life changes, your legal needs may undergo a great shift as well. In Maryland, few people have to worry about tax issues when they die, but virtually everyone needs to consider the possibility of a long illness or stay in a…
Maryland Medical Assistance pays for nursing home care for those who medically require it, but cannot afford it. When calculating whether or not someone meets the financial requirements for Medical Assistance, there are certain assets that may have value to the Medical Assistance applicant and…
Simply put, no one can predict what the future holds, but it’s preferable to at least plan for likely outcomes. Everyone needs to have a plan for what happens to their assets when they die. Wills and trusts have similar purposes, but each has their…
Researchers from Rutgers University predict that in the next four decades the United States will experience a shift in its population demographics. Based on the results of a multi-disciplined study which included researchers with backgrounds in mathematical, behavioral and social sciences, engineering and physics, the report predicts…
