The Law Offices of Scott Alan Morrison, P.A.
Frederick
Location
301-694-6262
Hagerstown
Location
301-293-0010

Posts tagged "executor"

Essential steps for planning estate administration

Estate planning can seem like a significant challenge to some people because they just don't know where to start. Luckily, there are specific steps that most financial and estate planning experts agree are a good guide for navigating through the estate administration planning process in Maryland and other states. Following these steps will ensure that one's estate will be secured for intended heirs.

Will is important part of planning for estate administration

It is best not to procrastinate on important tasks that could be taken care of right away. Planning for estate administration is definitely one of these tasks upon which many people in Maryland make the mistake of procrastinating. This can create major problems for loved ones if something unfortunate and unexpected occurs. Without an estate plan, heirs may be forced to go through a lengthy probate process in order to settle one's estate.

Estate administration plans help with personal finance planning

With the beginning of the new year many people are struggling with trying to keep their New Year's resolutions. Many of these resolutions may have to do with personal finance planning, which could include catching up on taxes, budgeting or accounting. However, many of these aspects of personal finance will require continual updating, which can be challenging and discouraging for many people in Maryland. On the other hand, one part of personal finance which does not need continual attention throughout the year is planning for estate administration.

Digital assets should be part of estate administration plans

With the advance of technology, people's lives are becoming more digitized with much of their financial and personal lives being stored online. This can make life more convenient in most cases in Maryland and other states. However, it can also cause problems during estate administration if one does not take certain variables into consideration when creating an estate plan. There are several important aspects to consider when creating a digital estate plan.

Organization is important for estate administration in Maryland

After one's death, his or her estate must be administered for the benefit of its rightful heirs. If one has done proper estate planning, this job could be quite simple. However even with the right estate planning documents estate administration could still be a challenge if nobody knows where the estate planning documents as well as financial and personal information are located. Unfortunately, organization is one of the most important -- yet most commonly neglected -- aspects of planning an estate in Maryland or elsewhere.

  • 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
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Frederick Office
141 W Patrick Street
Suite 300
Frederick, MD 21701

Phone: 301-694-6262
Fax: 301-668-8884
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Hagerstown Office
Carson Wealth
19833 Leitersburg Pike
Suite 1
Hagerstown, MD 21742

Toll Free: 866-220-5185
Phone: 301-293-0010
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