MARYLAND TRUSTS versus WILLS 101

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                          Maryland LIVING TRUSTS versus WILLS : Basic Comparisons


LIVING TRUSTS :                                                             WILLS :
(1) Avoid delays --- no probate .                        (1) Delays of  Probate.
(2) Usually more time and expense to create.    (2) Usually less time and expense to establish.
(3) More time and expense to manage .             (3) Less time and expense to manage.
(4) Estate Taxes: Due and Owing  (?)               (4)  Estate Taxes : Due and Owing .
(5) Minimal to no oversight of trustees .            (5) Minimal to no oversight of manager.
(6) No will to contest.                                         (6) Will to contest.
(7) No publicity. Public record.                         (7)  Wills are public  records.       
(8) Minimal to no probate costs .                        (8)  Probate costs.    

This information provided is not designed nor intended to be legal advice, and does not create an attorney-client relationship. Contact a lawyer directly with specific situations and questions.