Do you know what will happen to your family and your assets if you become incapacitated, or what will happen to your loved ones after you pass away? Many people do not like to think about illness, injury, or death. While it is understandable to put these topics out of your mind, you can put your family – and yourself – in a very bad situation if you do not plan ahead in case of illness and for the eventuality of your death.
Sinclair Prosser Gasior will help ensure you have taken care of the essential estate planning issues so you can give yourself and your family the peace of mind of knowing everyone is protected. Give us a call at 410-573-4818, 301-970-8080 or contact us online to learn more about the personalized assistance we can provide to you in Annapolis, Bowie, Millersville, Waldorf and surrounding areas in Maryland. Our legal team can also help you to get answers to questions including:
- When should I start estate planning?
- What kinds of estate planning services in Maryland do I need?
- How can an Maryland estate planning and elder law lawyer help me?
When Should You Start Estate Planning?
You should start estate planning as soon as you are 18 years old and have the legal authority to create a plan. You need an estate plan in place when you have any assets, any concerns about your own future medical care, or any family members that you want to protect.
Waiting too long to make an estate plan can leave you and your loved ones in trouble if something unexpected happens. If you have not planned in advance and you need nursing home care or you get sick and cannot communicate your medical decisions, your family members could be put in a difficult position and you could face significant financial trouble and even receive unwanted medical care that you wouldn’t have chosen.
Rather than leave yourself and your family at the mercy of fate and hope nothing bad happens to you, it is best to be prepared in advance. Get the help you need today so everything is in place in case of an emergency. This is just as important for young people as it is for the elderly, especially if you have small children to provide for.
What Kinds of Estate Planning Services in Maryland Do You Need?
The estate planning process is a very personal one, because only you know your goals, your wishes for medical care, and your family situation. Some of the different components of your estate planning process could include:
- Creating a plan to protect assets. You may wish to ensure your assets won’t be lost if you need nursing home care, and that you won’t have to diminish the value of assets through the payment of estate taxes.
- Creating a plan to transfer assets. If you pass away, you want to make a plan for who your property and money will transfer to. This can go beyond just creating a will- more steps may be necessary to provide for heirs and ensure the seamless transfer of a business or other assets.
- Creating a plan to control your medical decisions. Advanced directives give you control over your own medical future. You can name a healthcare proxy who makes your wishes known and makes choices for you when you cannot. You can also create a Do Not Resuscitate Order and a living will so you prevent the use of extraordinary measures you don’t want, like a feeding tube or CPR.
- Creating a plan for incapacity. You may wish to specify who manages assets in the event that you become unable to act on your own. This allows your family to avoid guardianship proceedings.
These are just a few of the many possible components of a personalized estate plan. You should talk with an attorney about your family, your assets, and your concerns for the future so the right tools can be used to protect your property and those you love.
How Can a Maryland Estate Planning and Elder Law Lawyer Help You?
If you live in Annapolis, Bowie, Millersville, Waldorf and nearby areas throughout Maryland, Sinclair Prosser Gasior can help you to use all available legal tools to create a comprehensive estate plan. Act now to create your plan and cross the task off your checklist so you can go back to enjoying life without worrying that you or your loved ones will be in dire straits if a tragedy occurs. Give us a call at 410-573-4818, 301-970-8080 or contact us online to get started.
