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For many, charitable giving provides tangible and intangible benefits throughout your lifetime, while also establishing a legacy after you die. There are several ways to structure a charitable gift. Determining how to share your assets with others is dependent on your own financial situation, your interests, and to what extent you wish to see, first-hand, […]
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When planning for your estate, you should consider creating a Trust to hold your assets. Trusts are financial arrangements in which a person, the grantor, designates a trustee to manage and distribute the assets or property to beneficiaries. People incorporate Trusts into their estate plan for different reasons, such as avoiding probate, maintaining privacy during […]
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Individuals who do not have children may think they do not need an estate plan. This is incorrect. In fact, if you do not have children, you may especially need an estate plan because the default rules in the law may not carry out your wishes. Below are a few considerations. Your Last Will […]
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In today’s technology-driven world, digital assets are becoming increasingly more important to consider when creating an estate plan. “Digital assets” is an umbrella term for any valuables or key information stored online or on digital devices, such as personal computers. These include cryptocurrency, passwords, digital media (such as photos and videos), and access to virtual […]
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Finding love in the form of a new family is something beautiful and worth celebrating. Blended families—often called stepfamilies or reconstituted families—are formed when at least one of the spouses has custody of their children from a prior marriage or relationship. In the United States, blended families have become quite common and recent studies have […]
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If you own real estate in multiple states, we encourage you to consider the legal implications this may have on your estate plan. Multi-state estate planning can alleviate many legal complications, costs, and headaches when it comes to the probate process. In Maryland, probate is the legal process of administering and settling a person’s estate after they […]
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Estate planning brings up many difficult questions and most people are not sure where to begin. At Sessa & Dorsey, we regularly answer questions about estate planning in the state of Maryland. We put together this list of frequently asked questions in hopes of demystifying the estate planning process. Here are our 6 FAQs […]
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An unexpected, serious medical diagnosis can be emotionally draining and overwhelming. You may not know where to turn. As you navigate your options, we encourage you to make sure your personal and estate-related affairs are in order. Our team understands that estate planning is likely the last issue you want to deal with during this […]
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When we meet with our estates and trusts clients, the conversation about life insurance policies often arises. Life insurance policies go hand-in-hand with estate planning. As you plan for what will happen with your assets after you pass, you should consider what life insurance policy best meets your family’s needs. Although we at Sessa & […]
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If you die without a Last Will and Testament, you are giving up the power to control who will receive the assets, held in your sole name, that you have accumulated during your life. The Maryland laws of intestacy will determine both who will receive these assets and who will settle your affairs after your […]
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