Here at Sinclair Prosser Gasior, we are motivated by our commitment to the people in and around Bowie, MD. Community is very important to us, and communities are built on families. Our areas of specialization, estate planning and elder law, are all about protecting families, and we take this commitment very seriously.
Proudly Serving Bowie, MD
Our firm has been serving people here in Maryland for a long time, and we have developed many different relationships that have spanned multiple generations. The firm was originally founded by the late R. Ronald Sinclair, and the current owner and manager of the firm is the founder’s daughter, Colleen Sinclair Prosser.
Colleen graduated with honors from the University of Maryland, and she went on to the Catholic University Of America to earn her Juris Doctor degree. She is a member of the Maryland Bar Association, and she has lived in the state all of her life, so there is a very deep connection to the greater Bowie community.
Personalized Attention from an Estate Planning Attorney
Statistics show that most people in Maryland, and around the country as a whole, are not prepared from an estate planning standpoint. In fact, more than half of people who are under the age of 65 do not have wills or trusts.
Some people know that they should have a plan in place, but they are slow to act, because they are reluctant to talk about personal, family, and financial subjects. This is understandable, and we take this dynamic to heart.
Since we are members of the Bowie community in our own right, we look at our clients as neighbors and potential friends. We shop at the same stores, we go to the same restaurants, our children go to the same schools, and we visit the same parks.
When you have this type of organic connection, relationships gel naturally, so you will feel perfectly comfortable if you decide to work with us. We are ordinary people who will answer all of your questions in a perfectly understandable manner. Our goal is to make sure that you protect what you have earned so that you can leave behind a meaningful legacy to your loved ones.
Wills and Trusts in Bowie, Maryland
There are different ways that you could arrange for asset distributions. A last will can be an acceptable choice under very simple circumstances, but a trust of some kind can be preferable in many instances.
One very popular trust is the revocable living trust. This type of trust can yield significant benefits, even if you are not extraordinarily wealthy.
If you use a will instead of a living trust, it would be admitted to probate. This is a time-consuming and potentially expensive legal process. It is also a public proceeding, so anyone who wanted to pry into your affairs could access probate records to find out how you distributed your assets.
On the other hand, if you establish a living trust, the trustee that you name in the trust agreement would be legally empowered to distribute assets to the beneficiaries according to your wishes outside of probate. Plus, you could include spendthrift protections. The trustee could be instructed to distribute limited assets over an extended period of time.
There are also irrevocable trusts that can be used to satisfy more advanced estate planning objectives, like estate tax efficiency, asset protection, and government benefit preservation.
Nursing Home Asset Protection
Taking care of things that will happen after you are gone is part of the process, but you should also address end-of-life issues. The majority of elders will need living assistance at some point in time, and it is very expensive. Nursing home costs can consume everything that you have always intended to leave to your loved ones.
The Medicare program does not pay for living assistance, but Medicaid will help with long-term care costs. Medicaid is only available to applicants with financial need, so people often give away assets to qualify for Medicaid.
This takes careful planning, because program rules are complex. We help people in the Bowie area who would like to be able to qualify for Medicaid to pay for long-term care.
Set Up a Consultation with an Experienced Estate Planning Attorney in Maryland!
Now that you know a little bit about our firm and our connection to the Bowie, MD community, you may feel as though you would like to begin a relationship. We would love to get to know you and gain an understanding of your estate planning objectives.