A letter of intent is not a legally binding document; however, it may be the most valuable component of your estate plan as you prepare for the future well-being and maintenance and support of a future heir with special needs. The letter of intent is extremely detailed. Many of these letters end up being around 50-60 pages in length.
George and Ginny had a great marriage, with an extended family to whom they wanted to leave everything when they passed. Unfortunately, Ginny was then diagnosed with cancer.
After someone passes away, the estate of the decedent will be administered through the probate courts. In most cases, the assets will be discovered, inventoried and eventually distributed to the rightful beneficiaries.
Both the Christian Bible and the Quran, the Islamic sacred book, believed to be the word of God as dictated to Muhammad by the archangel Gabriel and written down in Arabic, contain instructions for how inheritances should be handled.
Many Maryland residents intentionally delay their future heirs from inheriting. This trend is consistent with many other states around the country. This delay is accomplished through the use of trusts which require heirs to attain a certain age and even then many of the assets are distributed in increments over a period of time.
While the Health Insurance Portability and Accountability Act, commonly known as HIPAA, still governs the sharing of medical information to protect patients’ privacy, the newly passed 21st Century Cures Act now requires 8 new types of clinical notes to be provided to patients and approved persons under HIPAA.
Within the next 20 years, the need for memory care housing options will become more necessary than ever. In 2016 alone, more than 2.5 million Baby Boomers turned 70 years old, the youngest boomers hitting age 52.
When someone in Maryland passes away, the person’s estate must be administered in the probate court. The term “administrative probate” refers to the process of opening an estate file, appointing a personal representative to administer the estate according to a will or according to Maryland’s laws of intestate succession if the person died without a will or trust.
Maybe you have searched everywhere you can possibly think to look for your loved one’s original Last Will and Testament. Maybe it burned in a house fire. Or someone accidently threw it away.
The vast majority of seniors asked about their future living arrangements answer that they prefer the option to stay in their home, known as aging in place. The reasons behind this preference often include familiarity, fear of institutions and concerns about finances.
