Estate Planning Lawyers in Howard County, Maryland

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Nobody likes to think about it. Nobody likes to talk about it. Your adult children hesitate to bring it up because they don’t want to upset you. Perhaps they drop hints here and there, trying to be subtle, because they too know that without your expressed wishes in a legal document, they will face months of paperwork, the possibility of infighting amongst their siblings, and perhaps thousands of dollars in fees.

The worst part about it is after the dust settles and relationships have been at worst alienated, your assets still may not go where you intended them to.

Probate is the government’s answer to poor estate planning. You need the help of Howard County, Maryland estate planning attorneys. You need the help of Shapiro Zwanetz & Lake.

The Importance of an Estate Planning Lawyer in Columbia, Maryland

At some point everyone is going to face the truth that when they die, there are only two avenues that the hard-earned lifelong assets they have created will take.

1. One is that your assets will be properly distributed according to your precise wishes – leaving a legacy for your spouse, children, grandchildren, great-grandchildren, charities and the like to benefit from. You will have put simple tools in place ahead of time that not only protect money and property, but protect the very relationships that benefit from them.
2. The other is that your assets will be invaded upon by inefficient government bureaucracy that has no interest or care in you or your family – but only in prolonging a process that benefits them in the end. Your wishes will be left up to interpretation of a judge. He will review your case as he does hundreds if not thousands of other cases. Your lifetime of work and careful investing has now been reduced to a case number.

For those of us on the legal side of poor or nonexistent estate planning, it’s very difficult to watch because we know that with some simple legal documentation, you can keep the government out of your family’s bank accounts, real estate and other affairs that only those you trust should be in charge of.

You Don’t Have to Be Wealthy to Have an Estate Plan

Individuals who have even a modest amount of assets (a home for example) titled in their name alone and decide to put off their estate planning, will inevitably lead their loved ones straight to a government-imposed estate plan, otherwise known as probate.

Probate is the government process administered through the court that distributes your assets after you have passed (making sure that all the governmental agencies get their cut as well). The government doesn’t necessarily want to manage your assets upon your passing, they are just put in a position to do so because most people don’t plan well enough ahead.

Contrary to what most people think, the probate plan even has full control over estates where the deceased left a will, which is why even a will is not enough in some cases. The state will tax your estate way before it ever reaches your heirs.

Commonly Asked Questions

What are the benefits of hiring an estate planning lawyer in Howard County?

Hiring an estate planning lawyer in Howard County offers numerous advantages. These professionals understand the local laws and regulations that govern estate planning, ensuring that your documents are compliant and effective. They can help you create a comprehensive estate plan that reflects your wishes, protects your assets, and minimizes the tax burden on your heirs. Additionally, they can guide you through the complexities of probate, helping to avoid potential disputes among family members.

How can I avoid probate?

To avoid probate, it is essential to establish a well-structured estate plan. This can include setting up living trusts, which allow your assets to be transferred directly to your beneficiaries without going through the probate process. Additionally, you can designate beneficiaries for your financial accounts and insurance policies, ensuring that these assets pass directly to your loved ones. Regularly updating your estate plan and keeping your documents organized can also help prevent probate complications.

How can I get started with my estate planning in Columbia, Maryland?

Getting started with your estate planning is a straightforward process. Begin by assessing your assets and determining your goals for distribution. Consider who you want to inherit your property and any specific wishes you have for your estate. Next, consult with an estate planning lawyer who can guide you through the necessary legal documents, such as wills and trusts. They will help you understand the implications of each option and ensure that your plan complies with Maryland laws.