A Maryland Will is an essential part of a Maryland Estate Plan. Many people are under the mistaken belief that their family will be able to take care of their asset distribution, as they want it to be done. Without a Maryland Will, the State of Maryland will distribute their assets in accordance with the state's intestate statutes. This often produces undesired results and leaves your spouse without the ability to manage the family's assets.
If you own property, have children, have recently been married or divorced, or want to make a gift or a bequest to someone it is important to create or update your Maryland Will. Our estate planning attorneys will insure that your property is distributed according to your wishes.
Our experience often enables our clients to eliminate estate taxes or death taxes and avoid the costs, fees, and publicity associated with probate. With a Maryland Revocable Trust or Maryland Living Trust, you may avoid probate. If you have a trust you need a special type of will called a Pour-over Will that will distribute property to your trust. This document is similar to a Maryland Will in that it describes what happens to your property in the event of your death. A Trust is not necessary for everyone and only after an analysis of your goals and assets can the proper decision be made. We would be happy to do a free evaluation of your current situation to see what is the proper set of documents for your Maryland Estate Planning needs.
Power of Attorney
If you grant someone your power of attorney, you are giving that person legal authority to act on your behalf. You usually grant this authority by signing a written document, simply called a power of attorney.
When you grant power of attorney to another person, you are called the principal. The person who can act on your behalf is called the agent, or sometimes the attorney-in-fact.
You would use a power of attorney when you want to grant someone else the power to make decisions for you, usually if you are elderly, sick, planning to be out of the state or country, or otherwise unable to act on your own behalf. A power of attorney is most often used in situations involving finances, health care and real estate, but may be used in other situations as well. It can be made to become effective either immediately or upon your disability.
A Maryland Guardianship attorney or Lawyer helps families deal with incapacitated family members or allows others to take care of minor children. Sometimes companies or individuals take advantage of the elderly and obtain guardianships in an effort to take control of the persons assets. In these cases a dispute may arise and the individual may have created liability for their actions against the elderly person. A Maryland Guardianship Attorney work with Families involved with Maryland Guardianships.