1. What happens if I die without a will in Maryland or DC?
Your estate is distributed according to intestate succession laws, which prioritize spouses and children. In DC, domestic partners may also inherit.
2. What is the difference between a will and a trust?
A will directs asset distribution after death, while a trust can manage assets during your lifetime and avoid probate.
3. How often should I update my estate plan?
Review your plan every year or after major life events (e.g., marriage, divorce, children, relocation).
4. Do I need a power of attorney in Maryland and DC?
Yes. A power of attorney lets someone manage your affairs if you’re incapacitated. Each state has its own statutory form.
5. How does probate work in Maryland and DC?
Probate validates your will and oversees asset distribution. Maryland’s process includes regular and small estate administration. DC’s process is similar but has its own rules for small estates.
6. Can I avoid probate?
Yes. Use tools like living trusts, joint ownership, and beneficiary designations to bypass probate.
7. What taxes apply to estates in Maryland and DC?
Maryland has both estate and inheritance taxes, while DC imposes an estate tax. Proper planning can minimize tax liabilities.
8. What is a healthcare directive?
Also known as a living will, it outlines your medical preferences if you cannot communicate them.
9. Do I need life insurance as part of my estate plan?
Life insurance can provide for dependents, cover estate taxes, and ensure liquidity for debts and expenses.
10. Can I name a minor as a beneficiary?
You can, but it’s better to set up a trust to manage the inheritance until the minor reaches a certain age.
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