Using See-Through and Marital Trusts for IRAs in Maryland Estate Planning

You just welcomed a new child into your life. Between diapers, daycare, and sleepless nights, estate planning may be the last thing on your mind.

But if you’re a Maryland parent, now is the time to put legal protections in place—for your child, your assets, and your peace of mind.

Here’s what every parent should do.

1. Name Guardians for Your Children

A will is the only way to legally name a guardian for your minor child in Maryland.

If you don’t, a judge—who doesn’t know your values or your family—will make that choice for you.

💡 Choose someone who shares your parenting style and is willing and able to serve.

2. Create a Will or Revocable Trust

A will lets you name beneficiaries and guardians. A revocable trust can also:

Avoid probate

Hold money for minor children

Give your trustee discretion to manage inheritance responsibly

Most parents don’t want an 18-year-old to receive $500,000 outright. A trust solves that.

3. Set Up a Children’s Trust (Pot Trust)

A “common pot trust” or “children’s trust” allows you to:

Keep assets together until your youngest child reaches a certain age (often 25)

Provide for education, healthcare, and support along the way

Appoint a trusted person to manage funds

4. Update Beneficiary Designations

Review your:

Life insurance

Retirement accounts

Bank accounts

Don’t name minors directly—they can’t legally receive the money. Instead, consider naming your trust as the contingent beneficiary.

5. Sign Powers of Attorney & Advance Directives

Estate planning isn’t just about death. If you’re ever in an accident or hospitalized:

A Power of Attorney lets someone handle bills or childcare

An Advance Directive names someone to make medical decisions

This is critical for young families where one spouse may not work—or decisions must be made fast.

Parenthood Comes With Responsibility—And Opportunity

Estate planning isn’t just a task. It’s an act of love that protects your child’s future if the unthinkable happens.

At Bona Fide Estates LLC, we help new parents throughout Maryland build clear, caring plans that grow with your family.

👉 Start your family’s plan today. Book a consultation.

🔒 Disclaimer

This post is informational only and not legal advice. Every family is different. Speak with a Maryland estate planning attorney for personalized guidance. Attorney Advertising.