Brian Akers, a Certified Financial Planner, hosts a show discussing estate planning with Kevin Bress, an experienced attorney. They cover the basics of estate planning, including the differences between wills and trusts, and the concept of probate. They delve into the complexities of estate and inheritance taxes, particularly in Maryland, where the estate tax exemption is $5 million and the inheritance tax is 10%. They also discuss the importance of planning for single individuals or widows, the role of trusts, and the potential pitfalls of not having a proper estate plan. The conversation emphasizes the need for comprehensive planning and the benefits of involving a team of advisors.
