Probate is a legal process that occurs after someone passes away. It involves the validation of a deceased person’s will, the payment of any outstanding debts and taxes, and the distribution of the remaining assets to the beneficiaries.
When it comes to estate planning, two common legal processes often come into play after an individual passes away: probate and the dissolution of a trust. Both serve important roles in distributing assets to beneficiaries but operate under different legal frameworks and involve distinct advantages and disadvantages.
Understanding these processes is crucial for anyone involved in estate planning as they directly impact how an estate is administered and distributed in Maryland. Here at Sanders & Sanders, Attorneys at Law, we are dedicated to helping your family flourish. Here’s what to know about probate, wills, and trusts and how a probate lawyer can help.
Estate planning can be complicated and sometimes confusing, especially when it comes to the roles of heirs and legatees. These terms often arise in discussions about wills, trusts, and the distribution of assets after death.
Starting a business is hard work. You've poured your heart and soul into building it from the ground up. But what happens when it's time for you to step down? Creating a business succession plan ensures your business continues to thrive even in your absence.
Creating a will is essential in planning for the future, but it shouldn't be a "set it and forget it" document. Like any other important aspect of your life, you will need regular reviews and updates to reflect your current wishes and circumstances.
At Sanders & Sanders, Attorneys at Law, we help families make informed decisions about their estate planning needs. With a combined experience of over seven decades, we’re here to help you decide between two fundamental tools: wills and trusts.
In Maryland, as in many states, the importance of preparing a will cannot be overstated. The process of estate planning may seem like a task to many, especially for those who prefer not to think about the end of life.
Estate planning often evokes thoughts of wills and trusts, serving as the backbone for distributing one's assets after they've passed on. However, its essence reaches far beyond just securing and distributing your assets.