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Estate plan mistakes can make probate administration more complex

Maryland residents can look to celebrities as examples when it comes to how they would like to carry out certain aspects of their lives. While this type of admiration and inspiration is not necessarily a negative idea, individuals may want to remember what they consider important in their own lives. This idea may be especially useful when it comes to creating an estate plan for eventual probate administration.

Are you prepared for possible setbacks in probate administration?

When a family member discussed the idea of your becoming his or her estate executor, you may have felt honored by his or her trust in your abilities. After accepting the position, you may not have thought about the situation often but rather regarded it as a responsibility that would present itself sometime in the distant future. However, now that your loved one has passed, you must face your responsibilities as his or her personal representative.

How can an estate plan help avoid probate?

Starting to think about estate planning may seem intimidating to many Maryland residents. Because there are many aspects of life to consider as well as the variety of planning tools that could potentially be utilized, it is understandable that some parties may be hesitant when it comes to making an estate plan of their own. However, having the right information could assuage some of those hesitations. 

Living will may benefit any Maryland resident

Without having any close family, many Maryland residents may have felt a sense of freedom. They likely enjoyed the idea that they held no familial obligations and could handle their lives as they pleased. However, at some point, they may begin to wonder what will happen to them in the event that they suffer a serious illness or injury. Luckily, creating a living will can help.

An estate plan may help Maryland business owners name successors

Having a business can be a complex endeavor. However, the majority of successful Maryland business owners likely feel that their companies have allowed them to live the lives they desired and that the hard work necessary to achieve success is well worth the effort. They likely also know that one day they will no longer be able to lead their businesses, and they may wish to use an estate plan to address concerns.