As previously reported, Maryland has increased its estate tax exemption level.
- In 2015, the amount that passes free of Maryland estate tax will be $1,500,000
- By the year 2019, the amount that passes free of Maryland estate tax will be exactly the same amount that passes free of Federal estate tax, and will thereafter increase by an inflation factor.
Another significant change to Maryland laws, however, has been the adoption of the Maryland Trust Code. Future blogs will discuss the Maryland Trust Code and how it will effect existing and future Wills and Trusts.
– Gary Altman