SoMD Estate Planning

Estate Planning Attorneys in Southern Maryland

Probate

The Estate Planning Implications of Owning Property in Multiple States

If you own real property in more than one state — perhaps a vacation home at the beach or inherited land in another state — your estate could face ancillary probate in each state where you own property. This means multiple court proceedings, multiple sets of legal fees, and multiple delays. A revocable living trust solves this problem by holding all your real property in one trust, regardless of location, avoiding probate in every state.

At SoMD Estate Planning, we stay current on evolving legal issues to protect Southern Maryland families. Contact us about our $1,500 flat-fee estate plan.

What Happens to Joint Bank Accounts When Someone Dies in Maryland?

In Maryland, when one owner of a joint bank account dies, the surviving owner generally receives full ownership of the account immediately — without going through probate. This makes joint accounts a simple probate avoidance tool. However, there are important caveats. The full account balance may be considered part of the deceased owner’s estate for tax purposes. Family disputes can arise if others believe they were entitled to a portion. Adding someone to your account gives them immediate access to all funds, which carries risk.

At SoMD Estate Planning, we stay current on evolving legal issues to protect Southern Maryland families. Contact us about our $1,500 flat-fee estate plan.

Joint Ownership vs. Trusts: Which Is Better for Avoiding Probate?

Both joint ownership and trusts can help your assets avoid probate, but they work very differently and carry different risks. Joint tenancy with right of survivorship is simple — the surviving owner automatically gets the property. But it exposes the asset to the co-owner’s creditors, potential lawsuits, and divorce proceedings. It can also create unintended gift tax consequences. A revocable living trust avoids these risks while providing the same probate avoidance benefit, plus incapacity protection and privacy.

At SoMD Estate Planning, we stay current on evolving legal issues to protect Southern Maryland families. Contact us about our $1,500 flat-fee estate plan.

Understanding Intestacy: What Happens When Maryland Decides for You

When someone dies without a will in Maryland, the state’s intestacy statutes determine who inherits — and the results often surprise families. If you are married with children, your spouse gets the first $40,000 plus half the remainder. If you have minor children, the court appoints a guardian without your input. If you are unmarried with no children, assets pass to parents, then siblings, then increasingly distant relatives. Your unmarried partner receives nothing. Your favorite charity receives nothing. Your intentions are irrelevant.

At SoMD Estate Planning, we help families across Southern Maryland navigate these important decisions. Contact us about our $1,500 flat-fee estate plan.

How to Avoid Probate in Maryland: 5 Proven Strategies

Probate in Maryland means court oversight, public records, potential delays, and additional costs for your family. The good news is that with proper planning, most — or even all — of your assets can pass to your loved ones without going through probate. Here are five proven strategies Maryland families use to avoid the probate process.

Strategy 1: Revocable Living Trusts

The most comprehensive approach is transferring assets into a revocable living trust. Assets held in a trust pass directly to beneficiaries without court involvement. Other strategies include joint tenancy with right of survivorship for real estate, payable-on-death designations on bank accounts, transfer-on-death registrations for securities, and proper beneficiary designations on retirement accounts and life insurance policies. Each strategy has advantages and limitations — the best approach uses multiple strategies together.

At SoMD Estate Planning, we provide personalized guidance tailored to your specific situation. Contact us about our $1,500 flat-fee estate plan.