The primary reason that everyone needs an estate plan is that if you fail to create a plan, the State will create one for you. The State legislature does not know anything about your family dynamics and the things that you value, so why leave such important decisions to them? If you are a parent, you should be the person deciding who will take care of your children if something happens to you? You should also be the person to decide who gets your assets after you are gone and to decide when and how they should be distributed?
Without a will, state laws of “intestate succession” kick in. In Maryland*, the following distributions would apply if you died without a will:
If the intestate laws do not precisely reflect your wishes, a will and/or a revocable living trust is necessary.
*See MD Code Ann., Estates and Trusts §§ 3–101 et seq. (2003) for a complete description of intestate distributions.
Another reason that everyone needs an estate plan is that a well planned estate is a valuable gift to your loved ones at a time when they will be least able to make important decisions. If you have ever had to suffer through the loss of a loved one, this is all too true for you. Your family should be able to focus on honoring your memory rather than figuring out how to pay bills when the bank will no longer allow access to accounts, or deciding who gets what assets.
A well planned estate also has the following benefits:
Adams Law Office, LLC is a suburban Maryland and Washington, DC metropolitan law firm assisting clients with the development of a plan for the distribution of their property after death through individualized advice and preparation of applicable documents, such as wills, trusts, powers of attorney, and advance healthcare directives. Call 301-805-5892 for a free consultation
Call today for a consultation with one of our caring and experienced Attorneys!
4201 Northview Drive, Suite 401 • Bowie, MD 20716 Serving the Maryland and DC areas
Office Hours
Copyright © 2023 Adams Law Office, LLC All Rights Reserved
DISCLAIMER: No information you obtain from this website or its content is legal advice, nor is it intended to be. You should consult an attorney for individualized advice regarding your own situation. No attorney-client relationship is intended or formed by your viewing this website or downloading and using the content, forms, tips or information kits found on this website. No attorney-client relationship is intended or formed without a fully-executed, written agreement to enter into such a relationship. Client testimonials or endorsements do not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter.