Business succession planning is essential for ensuring the smooth transfer of business ownership. In Maryland, business owners might consider some factors to maintain business continuity and address tax implications. Preparing for ownership transfer A clear succession...
Estate Planning
Tips for choosing a power of attorney
As you set up your estate plan, you should also choose at least one power of attorney to handle your legal, financial and healthcare decisions if you ever become incapacitated. You can also designate someone for specific tasks, such as selling real estate, or someone...
What is an advance health care directive?
An advance directive is a legal document that controls a person’s medical intent when they cannot do so because of severe dementia, serious injury, coma or terminal illness. When you create an advance health care directive, you can be specific about the types of...
How a trust may fit into your estate plan
When planning your estate, creating a trust can serve a variety of objectives. When you establish and fund a trust, you transfer certain assets into the custody of a third party, or trustee, who makes sure the trust assets pass to your beneficiaries as intended....
Benefits of powers of attorney and healthcare directives
Estate planning can seem daunting but is one of the best things you can do to take care of your family and your own concerns about the future. Estate planning is more than just a will and includes a variety of different important legal documents that help ensure loved...
Don’t trust DIY estate planning
No one wants to leave their family in the dark after they’re gone, but many people put off estate planning. The idea can be daunting, and the process will take time. But, there’s a reason why it’s important to use a profession to get your estate plan right. Here are...