The Law Offices of Scott Alan Morrison, P.A.
Please Call For An Appointment

Maryland trust options for dual ownership of property in 2 states

When Maryland residents choose to divide their time residing in our state and another, they must consider the implications for taxes, insurance and even estate planning. Owning real property in more than one state is something to carefully consider during estate planning. Unless the dual ownership is handled through the creation of a trust or other estate planning measure, there is a possibility that the estate will ultimately have to be probated in both jurisdictions. While real property can be owned in more than one state, a person is considered a domicile of only one jurisdiction for tax purposes.

When property is owned in two states, a poorly conceived estate plan may become the financial burden of the heirs. One way to ensure that this does not happen is by creating a trust to own one or more parcels of real property. In this manner, the property can be transferred after death independent of the probate process, thereby saving time and expenses.

It also many benefit those owning real property in more than one state to have a Durable Power of Attorney drawn and established in each locale. This may require listing more than one attorney-in-fact, but if the jurisdictions are a good distance from one another, it may be beneficial to have someone familiar with local laws. In addition, having an Advance Medical Directive, or living will, in each state may also prove beneficial. The laws for these documents may vary by state, so it is important to investigate one's rights and responsibilities in each location.

Anyone in Maryland who owns property in more than one state, or who is considering living in two or more states, may benefit from understanding the potential tax consequences and acting accordingly. There are several options available for trust creation that may be considered, and the counsel and advice of a trained professional familiar with the laws in the chosen states may be advisable. Estate planning involving multiple jurisdictions can be complicated without the proper protections in place. For individuals and families who are unsure of how best to proceed, it may benefit them to investigate their options for guidance through the estate planning process.

Source: CBS Boston, "How To Protect Your Estate While Living In Two States," Oct. 19, 2012

No Comments

Leave a comment
Comment Information
  • Best Of The Best The Frederick News Post
  • Bar Association Of Frederick County, Maryland
  • NAELA National Academy Of Elder Law Attorneys, Inc.
  • Maryland State Bar Association Inc.
  • Washington County Bar Association , DC Bar
  • Law Offices of Scott Alan Morrison is a BBB Accredited Lawyer in Frederick, MD
Form Submit Button

Schedule Your Free Consultation Today

For more information and a free consultation with a Maryland estate planning attorney, call us at 301-694-6262 or fill out the form below. We provide clients with the estate services they need.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

We have offices in Frederick and Maryland, to serve you.

Evening, weekend and off-site appointments are available upon request. Free parking is available at our Frederick office.

Our office will follow the same closing & delays as Frederick County Public Schools for both offices due to inclement weather.

The Law Offices of Scott Alan Morrison, P.A.
141 W Patrick Street
Suite 300
Frederick, MD 21701

Toll Free: 866-220-5185
Phone: 301-694-6262
Fax: 301-668-8884
Map & Directions
Frederick Law Office Map

Contact This Office Contact This Office