Practice Areas
Maryland Wills and Estate Planning Attorney with a Mission to Empower Women
Serving the Estate Planning Needs of Annapolis, Bowie, Upper Marlboro, Baltimore and Surrounding Areas
Estate planning encompasses more than just the creation of a will. It involves the strategic distribution of your assets and the development of a comprehensive healthcare plan to address potential mental or physical incapacitation before death. A well-rounded estate plan typically consists of a Last Will and Testament, an Advance Medical Directive, and a Power of Attorney. By proactively crafting an estate plan now, you can spare your loved ones the burdensome and public probate process. Furthermore, an effective estate plan can offer tax advantages, allowing more of your wealth to remain within your family.
Wills
Why is a will so important?
The most significant legal document a person can create during their lifetime is likely a will. A will outlines your intentions for your belongings after your passing and names guardians for minor children. To begin the estate planning process, everyone should think about speaking with an attorney.
When a person passes away intestate (without a will), the distribution of their estate is left up to state law. Additionally, dying intestate exposes one’s family to the ambiguity of the legal system and the potential for conflict.
A will should be used to choose a personal representative as well. A person designated to carry out the will is known as the personal representative. This person will see to it that all wills are followed after death.
The duties of this position include, but are not limited to, submitting the will for probate, meeting all financial obligations of the estate, safeguarding assets until distribution, and allocating assets at the proper time.
Trusts
Maryland Trusts
A trust enables a person to distribute assets for the benefit of one or more other people while allowing them to act as the nominal owner of any property or resources. Additionally, you can get assistance from our Maryland estate planning attorney as you fund your trust. Find out which kind of trust would best suit your needs by getting in touch with our office.
We offer several different kinds of trusts as part of our estate planning services. Our Maryland estate planning attorney can assist you in determining which option—if any—is best for your present and long-term goals. Some of the trusts that we encounter with clients include:
- Revocable Living Trusts
- Testamentary Trusts
- Spendthrift Trusts
- Pet Trusts
- Irrevocable Trusts
- and more.
To gain further insight into when it is necessary to review or update your estate plan, we invite you to watch this concise video: “When You Should Review or Refresh Your Estate Plan.”
Contact the Law Offices of Elsa W. Smith, LLC
The process of estate planning can be initiated at any time. Contacting an Experienced Maryland Estate Planning Attorney is a wise first move whether you’re interested in a straightforward will or a more comprehensive estate plan. If you need quality legal representation, we are ready to help. Contact the Law Offices of Elsa W. Smith, LLC. We are committed to empowering women through estate planning.
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