Services | Estate Planning
Do I need a Will?
Did you know you are never without a will, even if you've never made one? That is because the State of Maryland, in its infinite wisdom, has decided what should be in the last will and testament for everyone who fails, for whatever reason, to make their own will and plan their own estate. The problem is, the will the State makes for its citizens-under the intestacy law-- has some surprises that most people, if they knew what they are, would be quite unhappy about.
Your plan for your Family
Of course, it is important to plan your estate well before you imagine the plan would be needed. None of us are guaranteed another day. In the early years of one's adult life, it is essential to choose legal guardians for minor children. If you don't make this choice yourself, and express your choice in a will, once again, the government gets to decide who your children's guardian(s) will be- people you and your kids may not even know! Younger parents also need to select someone to invest, protect and disburse their estate's assets for the benefit of the kids. Once again, your will can appoint such trustees and specify their duties, disbursements and priorities. If you don't do it, the State-- once again-- steps in and makes these decisions for you, or appoints the people who will make them. Your will can relieve your personal representative and trustees of the necessity of posting a secured fidelity bond. That provision alone, in cost savings to your estate, will more than cover the cost of developing a proper estate plan.
Refining the plan later on in life
Later in life, the estate plan may need to become more sophisticated. Assets may have grown in value and thereby be exposed to the notoriously aggressive State and Federal Estate Taxes. Families may have blended together with children in the picture on one or both sides who have not been adopted by the step-parent. There may be beneficiaries under disabilities, property located in other States, grandchildren, family heirlooms, estranged family members, disproportionate gifts, special friends, charitable bequests, unusual funeral wishes and a host of other situations requiring special treatment. All of these details can be handled easily with proper planning. Without it, you may leave your heirs in a state of jeopardy and frustration on top of their grief over your loss.
A Maryland estate planning lawyer that works your plan
We are accustomed to addressing every person's or couples' estate planning needs with and individualized, sensible plan. Besides simple and complex wills, we are equipped to provide testamentary and lifetime ("living") trusts, family limited liability companies, joint tenancies and lifetime rights in real estate, durable powers of attorney, advance directives, living wills and other means to accomplish your giving goals. We tailor the solution to the client's specific situation using our extensive experience with estate planning tools, pertinent laws and the probate process. We explain the pros-and cons-of the much touted goal of "avoiding probate". Much misinformation is disseminated to the public by people who want to peddle a particular kind of trust, be the custodian of assets invested in it, or market budget-priced "one size fits all" documents. We try to cut through all the bunk and hidden agendas in the marketplace and on the Internet by advising our clients what they really do-and don't - need.
Settling and Administration of Decedent's Estates
If the estate planner has done his or her job, the estate should be easy to administer and settle. Of course that doesn't always happen, for a myriad of reasons. Even when the estate has been properly planned, we realize that to someone unfamiliar with the Register of Wills offices and the Probate laws and procedures, even a simple estate administration process can seem overwhelming. We go the second mile to help the personal representative understand and feel comfortable with the process, and we undertake most if not all of the probate administrative details so the PR can focus on the matters of greatest importance to the family. Our relationships with banks, appraisers, realtors, auctioneers, trust departments, accountants, investigators and other professionals can provide great assistance to the client who might need, but not already have strong connections to necessary resources.
Estate Disputes
It sometimes happens that the estate may require litigation services. Such disputes often happen when there is no will, but may happen even when there is a will. For example, there may be disputed creditor claims, issues about the validity or interpretation of the will (a will "Caveat") or the competency of the testator, family tensions, business disputes, issues with taxing authorities, and sundry other matters. If such problems come up, our firm is prepared-and experienced-in handling them. We realize that those involved are already stressed by the decedent's death and the unfamiliarity of the administration process. We realize that unresolved family issues often underlie disputes over the decedent's will or assets. The last thing the bereaved family needs is a law firm helping with the estate that is ill-prepared to accept, understand and shoulder such challenges. We will work for you and with you in the estate administration process as your advocate, confidant and friend.
Did you know you are never without a will, even if you've never made one? That is because the State of Maryland, in its infinite wisdom, has decided what should be in the last will and testament for everyone who fails, for whatever reason, to make their own will and plan their own estate. The problem is, the will the State makes for its citizens-under the intestacy law-- has some surprises that most people, if they knew what they are, would be quite unhappy about.
Your plan for your Family
Of course, it is important to plan your estate well before you imagine the plan would be needed. None of us are guaranteed another day. In the early years of one's adult life, it is essential to choose legal guardians for minor children. If you don't make this choice yourself, and express your choice in a will, once again, the government gets to decide who your children's guardian(s) will be- people you and your kids may not even know! Younger parents also need to select someone to invest, protect and disburse their estate's assets for the benefit of the kids. Once again, your will can appoint such trustees and specify their duties, disbursements and priorities. If you don't do it, the State-- once again-- steps in and makes these decisions for you, or appoints the people who will make them. Your will can relieve your personal representative and trustees of the necessity of posting a secured fidelity bond. That provision alone, in cost savings to your estate, will more than cover the cost of developing a proper estate plan.
Refining the plan later on in life
Later in life, the estate plan may need to become more sophisticated. Assets may have grown in value and thereby be exposed to the notoriously aggressive State and Federal Estate Taxes. Families may have blended together with children in the picture on one or both sides who have not been adopted by the step-parent. There may be beneficiaries under disabilities, property located in other States, grandchildren, family heirlooms, estranged family members, disproportionate gifts, special friends, charitable bequests, unusual funeral wishes and a host of other situations requiring special treatment. All of these details can be handled easily with proper planning. Without it, you may leave your heirs in a state of jeopardy and frustration on top of their grief over your loss.
A Maryland estate planning lawyer that works your plan
We are accustomed to addressing every person's or couples' estate planning needs with and individualized, sensible plan. Besides simple and complex wills, we are equipped to provide testamentary and lifetime ("living") trusts, family limited liability companies, joint tenancies and lifetime rights in real estate, durable powers of attorney, advance directives, living wills and other means to accomplish your giving goals. We tailor the solution to the client's specific situation using our extensive experience with estate planning tools, pertinent laws and the probate process. We explain the pros-and cons-of the much touted goal of "avoiding probate". Much misinformation is disseminated to the public by people who want to peddle a particular kind of trust, be the custodian of assets invested in it, or market budget-priced "one size fits all" documents. We try to cut through all the bunk and hidden agendas in the marketplace and on the Internet by advising our clients what they really do-and don't - need.
Settling and Administration of Decedent's Estates
If the estate planner has done his or her job, the estate should be easy to administer and settle. Of course that doesn't always happen, for a myriad of reasons. Even when the estate has been properly planned, we realize that to someone unfamiliar with the Register of Wills offices and the Probate laws and procedures, even a simple estate administration process can seem overwhelming. We go the second mile to help the personal representative understand and feel comfortable with the process, and we undertake most if not all of the probate administrative details so the PR can focus on the matters of greatest importance to the family. Our relationships with banks, appraisers, realtors, auctioneers, trust departments, accountants, investigators and other professionals can provide great assistance to the client who might need, but not already have strong connections to necessary resources.
Estate Disputes
It sometimes happens that the estate may require litigation services. Such disputes often happen when there is no will, but may happen even when there is a will. For example, there may be disputed creditor claims, issues about the validity or interpretation of the will (a will "Caveat") or the competency of the testator, family tensions, business disputes, issues with taxing authorities, and sundry other matters. If such problems come up, our firm is prepared-and experienced-in handling them. We realize that those involved are already stressed by the decedent's death and the unfamiliarity of the administration process. We realize that unresolved family issues often underlie disputes over the decedent's will or assets. The last thing the bereaved family needs is a law firm helping with the estate that is ill-prepared to accept, understand and shoulder such challenges. We will work for you and with you in the estate administration process as your advocate, confidant and friend.
