Estate Law

For Maryland business owners, an estate plan is not just about distributing personal assets—it’s also about safeguarding the future of your business. Incorporating a business succession plan into your estate plan ensures a seamless transition of ownership and management, minimizes conflicts, and protects your legacy. In this post from Blackford & Flohr, we will walk […]

Planning for the future is a crucial step in ensuring your loved ones are protected and that your wishes are honored. When drafting a will in Maryland, it’s essential to consider the distribution of all assets, including specific personal property. From heirlooms to sentimental items, these possessions often hold more than just financial value, and […]

When it comes to estate planning in Maryland, handling out-of-state property requires careful consideration and planning. Owning property outside of Maryland can add complexity to the estate process, as each state has its own laws governing real estate, probate, and taxes. Understanding how to effectively include out-of-state property in your estate plan can help protect […]

Maryland’s Elective Share Law plays a significant role in estate planning, particularly for married individuals. This law grants a surviving spouse the right to claim a portion of the deceased spouse’s estate, regardless of what the deceased’s will or trust may specify. Understanding how this law works and its implications is crucial when drafting or […]

Summary What it is: A 10% tax on inheritances paid by the beneficiary. Who is Exempt: Close relatives (spouses, children, siblings, parents). Who Pays: Non-exempt (nieces, nephews, friends, distant relatives). Key Strategy: Can be minimized with proper estate planning, such as trusts or lifetime gifts. When it comes to estate planning and transferring wealth after […]

A “Trust Protector” is a relatively new but increasingly important role in the world of estate planning, particularly in Maryland. While not traditionally part of a trust’s structure, more individuals are appointing Trust Protectors to ensure their trusts operate smoothly and according to their long-term wishes. In this post, we’ll break down the role of […]