All too often will-seeking clients call the firm asking if we do “simple” wills, say they need a will, but don’t want one of those “long wills”, or claim to not have anything, so they just need a “basic” will. Most law firms will respond to the client, “Yes! We can do that!” But there are pitfalls that can arise, some foreseen and some unforeseen, when a person only has a “simple” will, and the client does not even know these potential pitfalls exist. Read More
Maryland
#FamilyFriday: Marital v. Non-Marital Property
When couples get divorced they are required to identify marital property and non-marital property. Many individuals don’t know what makes property marital and therefore, how they may unintentionally make a non-marital asset marital. This week’s #FamilyFriday article defines marital and non-marital property and offers a few tips to protect your non-marital property.Read More
What You Don’t Know Can Hurt You
One of the most common misconceptions is that if you are married and you die without a will, your spouse automatically gets everything. Unfortunately, that often is not the case. Instead, it depends on several factors. First, if you have any joint accounts, those accounts will pass automatically to the joint account holder. Second, if you have a named beneficiary on any account or asset, that account or asset will pass automatically to the designated beneficiary. Read More