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Dunkirk, MD 20754
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Top New Year’s Resolutions for Estate Planning
/0 Comments/in estate planning /by The Baddour Law FirmAs we usher in a New Year, it is a time of reflection and setting goals for the future. For many in Maryland, this includes making resolutions to secure their financial well-being and familial future. Estate planning is often pushed to the back burner, but it should be at the forefront of your resolutions for […]
Understanding Maryland’s Intestacy Laws
/0 Comments/in estate planning /by The Baddour Law FirmWhat happens to your assets when you pass away if you don’t have a will in place? This situation, known as dying intestate, means your estate will be distributed according to state intestacy laws. These laws provide default inheritance rules that apply when someone dies without an estate plan directing asset distribution. While intestacy laws […]
Estate Planning Essentials for Single Parents
/0 Comments/in estate planning /by The Baddour Law FirmEstate planning is the process of arranging for the distribution of your assets after a person’s death. It is important for everyone to have an estate plan, but it is especially important for single parents. Single parents have a responsibility to ensure that their children are financially and emotionally protected in the event of their […]
Estate Planning and Business Ownership: Securing Your Maryland Family Business
/0 Comments/in Business Planning, estate planning /by The Baddour Law FirmOwning a family business comes with great rewards and responsibilities. You pour your heart and soul into building a company to pass on to the next generation. But without proper estate planning, your business could be vulnerable when you retire or pass away. Failing to plan for the future of your family business can lead […]
Navigating Probate Courts in Maryland: Tips for the First-Time Personal Representative
/0 Comments/in estate planning /by The Baddour Law FirmWhen a person passes away with a will in place, their estate typically goes through probate to validate the will, create an inventory of assets, settle any debts, and distribute property to heirs. The personal representative named in the will is tasked with shepherding the estate through this complex legal process. Acting as the estate’s […]
Why Pet Trusts Should be Part of Your Estate Plan in Maryland
/0 Comments/in estate planning /by The Baddour Law FirmPets are an integral part of American households. Current statistics indicate that 66% of U.S. households, translating to about 86.9 million homes, own a pet. Our animals hold a significant place within our homes. They serve not merely as pets, but as cherished family members. They offer companionship and emotional support, and in many instances, […]
What Is a Revocable Trust and Do I Need One?
/0 Comments/in estate planning /by The Baddour Law FirmAs you think about the future and the well-being of your beneficiaries, creating an estate plan is an essential part of protecting your assets and your loved ones. A strong estate plan has many important components, including the creation of a trust or multiple trusts. One type of trust that you may consider as part […]