Building and Protecting Families
Posted in Estate Planning, Trusts, Wills on Nov 28th, 2011
As a Maryland estate planning attorney, I meet with many people who do not know if they need a will, a trust or both. So, how do you know if you need a Trust instead of a simple Will? Many people assume that Revocable Living Trusts are only for the wealthy, but Revocable Living Trusts [...]
More About Trust vs. WillPosted in Estate Planning, Probate on Apr 12th, 2010
Myth: A Revocable Living Trust always avoids probate. Fact: If you have a Revocable Living Trust and it is not properly funded, all assets titled in your name at the time of your death and not titled in the name of the trust will need to go through probate. To properly fund the trust and [...]
Posted in Estate Planning on Apr 5th, 2010
Myth: A Revocable Trust Can Protect Your Assets From Lawsuits Fact: There are a couple of reasons why a Revocable Living Trust will not protect your assets from lawsuits: (1) You have the ability to change the terms of the trust when ever you want and you have the ability to add assets to the trust [...]
Posted in Estate Planning on Mar 1st, 2010
Many people believe (or are told) that a Revocable Living Trust can reduce estate taxes. This is a very common estate planning myth. A Revocable Living Trust does not reduce your estate taxes. The main purpose of a Revocable Living Trust is to avoid probate, plan for disability/ incapacity and to protect your privacy. A married [...]