Estate planning is one of the most important ways you can take care of your loved ones and ensure that your wishes are honored after you have passed. Your estate plan is about more than just dividing assets, it’s about providing clarity and direction for your loved ones during difficult times. Whether you’re planning for the unexpected or securing the legacy you’ve worked hard to build, a well-crafted estate plan gives you control over how your life’s work is managed and distributed. The plan also controls which of your assets you wish to be managed privately and which you wish to go through probate.
I help individuals and families in Maryland create personalized estate plans that reflect their values and goals. It is unwise to rely on the “one-size-fits-all” do-it-yourself estate planning documents available online these days because, at this point in time, computers cannot understand your values and goals.
In addition to your estate plan, I will help you craft at least two other future-planning documents: a financial power of attorney and an advance healthcare directive / living will to instruct the people you have chosen to act on your behalf when you are unable to communicate your wishes.
Wills & Trusts
Wills and trusts are tools you can use to manage and distribute property. A will allows you to specify how your assets will be distributed after you pass away. Without one, your property will pass based on the intestacy law, which may not align with your wishes. If you consult with me, I will explain how your assets will pass if you don’t have a will. If you’re in the minority of people whose wishes align perfectly with the intestacy law, you don’t need a will. However even if you like Maryland’s “default will” you may still want to consider whether you wish to put some of your assets into a trust.
A trust is a legal instrument that can be used for many reasons including having a trusted person manage your property for your benefit or the benefit of others and directing who should get your property after you pass. Unlike a will, which only controls what happens to your property after you pass away, you can use a trust to manage your assets while still alive. A trust is also one of the ways that you can have certain of your assets pass outside of the probate process. After being properly educated, some people decide they want some of their assets to pass through probate, some to pass through beneficiary designations and others to be governed by a trust. In order to make an informed decision about all this, schedule a consultation with me.
Advanced Healthcare Directive
An advanced healthcare directive ensures your medical wishes are respected if you are unable to communicate them yourself. This document outlines your preferences for treatments like life support, resuscitation or palliative care. This is especially important if you have religious or other moral beliefs surrounding the medical care you receive.
By creating an advanced healthcare directive, you’re not just protecting your rights, you’re also giving your family the gift of clarity in a difficult situation. Not all medical situations can be foreseen but, in your directive, you can give the person(s) you trust to make those decisions guidance which will ease the difficulty of their labor on your behalf during a difficult time.
Power of Attorney
A financial power of attorney (POA) allows you to designate someone you trust to manage your financial or legal affairs if you become incapacitated. This trusted individual, known as your agent, can handle tasks like paying bills, managing investments and signing legal documents on your behalf. If you don’t have a POA in place and become unable to communicate your wishes then a family member or other loved one will need to go through the costly and time-consuming process of petitioning a court to be appointed the guardian of property titled solely in your name; in the meantime, financial troubles such as unpaid bills can mount. Better to have a POA in place so that your agent can begin managing your affairs immediately.
Securing Your Legacy
Estate planning is more than just drafting legal documents and retitling assets, it’s about projecting your values into the future. From charitable giving to providing for loved ones I’ll help you explore ways to leave behind a meaningful legacy that you can be proud of.
By securing your legacy, you ensure that your values and vision endure after your passing. Together, we can create an estate plan that protects your loved ones and reflects who you are and what you care about most.
