The Maryland Code exempts from inheritance tax all property received by the spouse of a deceased Maryland resident. It also exempts property that passes from a decedent to or for the use of, among others, the decedent’s children, grandchildren, the spouse of a child of the decedent, the spouse of a lineal descendant of a child of the decedent and the brother or sister of the decedent.Read More
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Several significant changes enacted this year by the Maryland legislature may affect your estate planning. Perhaps the most important development, however, is a non-change. Maryland did not increase its separate estate tax exemption. It is currently $1 million and remains much lower than the Federal exemption, which this year increased to $3.5 million.Read More