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Is it ever too early to create a Will? The short answer is NO. Better to create a Will too early than too late. A properly constructed Will can serve you for many years before you need to update or revise it. But if circumstances arise that necessitate changing your Will, it does not have to be d...

Last week we discussed pour-over Wills in the context of a revocable living trust. This week I want to talk about testamentary trusts. These types of trusts are what we might call springing or contingent trusts. They are created by your Last Will and Testament – hence the description testamentary...

I know what a Last Will and Testament is; but, what the heck is a Pour-Over Will? It's a great question that we often get asked. It's also one around which a great deal of confusion exists. Let's sort it out. Pour-Over Wills Work with Trusts Pour-Over Wills work in conjunction with a Trust – be ...

How much does a Will cost? It is perhaps our most frequently asked questions. At The Tyra Law Firm, we get this question a lot. Of course, it makes sense to want to know what you are getting into and to budget accordingly. As you begin thinking about your estate plan, take some time to shop aroun...

In the State of Maryland, the process of obtaining legal guardianship is fairly straightforward. However, it can be a long and detailed process. If you have a loved one who is unable to care and make decisions for themselves, you will likely need to go through this process if they do not already ...

If you have recently been named a personal representative in a loved one's Maryland probate administration, you are probably wondering, “how long will the probate process take?” You may have heard that the probate process can be long and fairly costly. In fact, there is a lot of variation in how ...

Many people don't have a Will, whether intentionally or not. They might know that estate planning is a good idea but, for one reason or another, they end up putting it off or deciding to skip it altogether. I don't mean to call anybody out here, but, if this sounds like you, there is something im...

Every summer, I am reminded of the intense emotions I felt all those years ago when my kids first went away to college. Sure, I was proud of them for graduating from high school. I was excited to watch them embark on the next step in their journeys. I was nostalgic about how quickly time passes, ...

Do you know what's rarely talked about? What comes after you create your estate plan? How do you actually fund your Trust once you've created it? Chances are, you don't even know what I mean when I say “fund a Trust.” Why? Because, in the estate planning conversation, there is so much discussion ...

When do you really need to start thinking about your estate plan? When many people think about “estate planning,” they think about it in terms of age. Estate planning is often associated with retirement, prolonged illness, or preparing for passing. For that reason, it's not something that is talk...

There is no such thing as a “typical family.” At The Tyra Law Firm, we work with families on a daily basis that comes in all shapes and sizes. Many families are blended, meaning that they include children from previous relationships. Many families have separate households, or single parents, or m...

Going through a separation is confusing, stressful, and often overwhelming. Estate planning is not a subject that comes up frequently. Very often, as couples make the decision to get separated and then divorced, they are concerned with the most pressing things: making sure the children are cared ...

In the coming months, things are still looking uncertain. It seems it will be quite a while until life gets “back to normal” after the coronavirus pandemic. It's a long road ahead. For many of us, this uncertainty about the future makes commitments and expenditures seem unwise. We are looking for...

Some Great Articles to Read — Harvard Health, “When a Loved One is Terminally Ill” Mayo Clinic, “Supporting a Terminally Ill Loved One” MD Anderson Cancer Center, “Making Memories Last: The Art of Legacy Work” Maryland Healthcare Commission's Consumer Guide to Longterm Care Hospice and Palliative...

Choosing the right person to care for your children if you are unable to do so is, of course, an important decision. For some lucky couples, it's also an easy one. However, it's not a given that you and your partner will agree on the right person or people to nominate for guardianship. In fact, d...

Even before the pandemic, The Tyra Law Firm was a mostly virtual law practice. Sure, we still have an office downtown, but we like to use technology to keep our practice versatile. That way, we are able to serve families that are too busy to come downtown in the middle of a workday. By using a va...

This week, like many of you, I have been thinking about the hundreds of thousands of Americans who have recently become infected with COVID-19. Chances are, you know someone who falls into this category. Whether those individuals experience relatively minor symptoms, the virus knocks them out for...

In recent weeks, I have been posting about how estate planning has increased in urgency as a result of the coronavirus. I've talked about why you need an estate plan, why now, and how to start having these important conversations with your loved ones. Each time I write about beginning the process...

These days, many of us fall into one of two extremes: we are either spending far more time at home than we usually do, or we are working long hours and in stressful conditions to keep the country's essential functions operational. Whether you fall on one side or the other of this spectrum, you ma...

This week, I was listening to the latest episode of This American Life on NPR. In one of the stories, a producer interviews a family member who lives in New York City. Both the man and his wife have been diagnosed with COVID-19…and they have a young toddler at home. The interview shows insight in...

In this time of social distancing, you may be noticing an interesting phenomenon. I know I have. What I'm noticing is that, the more we are asked to remain socially distant from one another, the more we draw closer as a community. In the past few weeks, I have seen an outpouring of charitable giv...

As you prepare your estate plan, the most obvious assets that jump to mind are likely things like heirlooms, real estate, and bank accounts. However, you may be overlooking some of your most valuable assets. Your intellectual property has value, and it is just as important to include in an estate...

In just the past few weeks, the coronavirus scare has risen to new heights. Of course, we should be careful during flu season every year. This year, however, the threat to health and wellbeing is elevated by a potential pandemic. Does this mean it's time to panic? No, it does not. But, there are ...

Very often, clients tell us that they wish they hadn't waited so long to start the estate planning process. It can seem scary or overwhelming, and there are a lot of reasons people put it off. One of the most common is that people want to wait until they have achieved certain financial goals befo...

What are we always talking about on this blog? Having an estate plan, right? But, just having a plan in place isn't always enough. For that plan to work properly when you need it, it needs to be comprehensive, carefully drafted, and thoroughly reviewed. Your goals need to be thoughtfully laid out...