Estate Planning and Administration
Do you need assistance with developing an estate plan that meets your individual needs? We help our clients develop specialized plans to assure their individual circumstances are met. Our attorneys prepare wills (both simple and complex), advance medical directives, financial and health care powers of attorney and trusts.
Last Will and Testament
A Last Will and Testament is a legal document that allows you to control how your estate will be distributed after you pass away. If you have minor children, it would also contain provisions for designating a guardian for your children and for setting up a trust for their care.
Advance Medical Directive
An Advance Medical Directive, also called a ‘Medical Power of Attorney’ allows you to designate a health care agent to make medical decisions for you if, for any reason, you are unable to make them for yourself. It can also be used to designate someone to serve as your guardian in the event a court determines that you have become mentally incapacitated.
Power of Attorney
A financial power of attorney allows you to delegate to the person of your choice the ability to manage assets that are titled in your individual name, which may include but is not limited to, retirement plans, bank accounts, and real property. A power of attorney can also be used to transfer assets into your revocable living trust if you become mentally incapacitated before the trust has been fully funded.
Revocable Living Trust
A Revocable Living Trust provides a vehicle to hold assets but controlled by the grantor, provides for a successor to handle one’s affairs if the grantor becomes mentally incapacitated, and eventually distributes the property upon the grantor’s death. Assets held in the name of a revocable trust at the time of the grantor’s death will avoid probate.
We prepare all documents necessary to open, administer and close an estate for your loved one. We not only assist our clients in the gathering of assets and paying bills and debts but also in the preparation and filing of Maryland and Federal Estate Tax Returns.