Maryland Estate Planning
We preserve your assets and
help your family thrive
Maryland Attorney Providing Estate Planning and Administration for Best Results
You have dedicated your life to caring and providing for your family and loved ones. Along the way, you may have accumulated assets, paid for camps, colleges, and weddings, or maybe that is still just the plan. No matter your stage of life, there is always the need to plan for the future. We are here to help you reach your goals and preserve your assets to benefit both you and your family.
Thoughtful estate planning should provide peace of mind that you are preserving what you have worked for, but it can even be an opportunity to elevate your family and to benefit them long into the future. An experienced Maryland Estate Planning Attorney knows what legal tools are available and how to use them to achieve your goals.
Estate planning is a necessary part of every person’s personal and financial life. It allows you to plan ahead and create a legacy for yourself and your loved ones. Estate planning is a very personal process. While most people want to provide additional assets to their children for their security, some people want to leave their assets to charity. The type of plan you choose will depend on your own personal circumstances and family situation.
There is no one-size-fits-all estate plan. We take into consideration your financial situation and the specifics of your family. We will first become familiar with you and your family’s concerns. Then, we will discuss potential solutions and develop a plan together that’s best suited to your needs and goals. We do not rush in and create a Maryland living trust for you if it makes little sense in your situation.
We Make Estate Planning a Simple Process
Don’t worry, while estate planning may sound like a daunting task, we respect your time and keep the process simple for you. We will often start out with a simple estate planning conference call or meeting, ask that you provide some readily available information needed for your estate plan, prepare the documents for you to review, and finally have a meeting to sign your Maryland estate planning documents. As you can see, it does not need to be difficult for you.
If you would like to discuss our assisting you with your estate plan or to review your current plan and documents, please schedule a call or meeting.
Ready to get started? We’re Ready to Help.
Contact us now and we’ll be happy to schedule a call or meeting with no commitment.
If we cannot assist you, we will gladly provide you with referrals.
What path should your estate plan take?
There are many tools in an estate planning attorney’s toolbox. Choosing the right ones for the job is the tough part. We will first find out more about you and your family and your goals for your estate plan.
- Are we trying to save on taxes?
- Are we making sure beneficiaries put the money to good use?
- Are we making sure the money lasts a long time?
- Are we making sure we pay the education costs of a beneficiary?
You may want all the above in your estate plan. Or, perhaps you want your entire estate to go to charity? The choice is yours. It’s our job to make that happen for you.
Then, we go to work creating your estate plan by choosing the right Maryland wills and trusts and changing assets’ titles to match your needs. The key is knowing what tools to use and when and that’s where an experienced Maryland Estate Attorney comes into the picture.
No matter why you have estate planning or probate concerns, we help guide you to a solution
Our practice includes advising clients with all aspects of estate planning, including the preparation of legal documents, as well as the proper use of those documents. When necessary, our attorneys will review and analyze estate planning documents prepared by other attorneys. We can assist you with:
- Establishing an estate plan.
- Executing Wills and Trusts.
- Creating Financial Power of Attorney and Medical Directive documents.
- Avoiding probate and getting a streamlined probate process.
- Preparing and using revocable and irrevocable trusts.
- Avoiding family disputes over your estate.
- Protecting clients from nursing home expenses through Medicaid and elder law planning.
- Protecting family members who may not be aware of your estate planning.
- Ensure beneficiaries with known drug or alcohol dependencies are protected.
- Creating Special Needs Trusts for children with disabilities.
- Preventing probate problems.
- Filing tax returns.
- Obtaining exemptions from estate tax.
Estate Planning and Maryland Law
State laws are very important with estate planning, and Maryland is no exception.
Maryland has estate and inheritance taxes that must be considered when drafting estate plans, and there is still a federal estate tax for the estates of wealthy individuals. These considerations often need to be balanced against Maryland income tax and federal step-up basis considerations.
Maryland requires the probate of estate assets, sometimes even for a single titled asset. For instance, a vehicle registered with the MVA could require you to open the estate of a Maryland resident to transfer title.
Maryland provides a spousal election, which allows a spouse who was provided a minimal inheritance from their spouse to elect to receive a more equitable amount.
Maryland does not recognize common-law spouses unless they became common law spouses in another state. Maryland also recognizes adopted and illegitimate children as having the same inheritance rights as children of marriages.
This is just a partial list of the complex issues that Maryland law can create when dealing with the estate of a Maryland resident.
We have the experience with both Maryland and federal law necessary to guide you in creating a solid estate plan that addresses our state’s unique concerns that affect everything from drafting your will and trusts to probate.
Words From Clients
Jeff was a great attorney to work with on the sale of our business. When problems popped up for the buyer to close, his manner kept everyone calm, both us and the buyer, and he came up with great solutions. Jeff's experience definitely shows, and we'll be happy to work with him again. - Elizabeth B.
Our CPA recommended Jeff to help us with our estate planning and transferring our business to our kids. Jeff was a friendly guy and understood the business and personal issues we were concerned about with giving the business to our kids. He came up with a great plan that reduced the taxes and made sure the business would stay open after we retired. We think our estate plan we made with Jeff will really help our family after we're gone. We are happy our CPA recommended him and with the work Jeff did for us. - Tom D.