Bethesda and Upper Marlboro Elder Law Attorney Tackles the Sibling Situation

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Siblings often have trouble agreeing on anything, so why should it be any different when it comes to Mom and Dad’s elder care?  Unfortunately, those of us in elder law see quite often how families have a very difficult time when it comes to determining what is best for aging parents.

In some cases, one sibling may be expected to take on an unreasonable portion of the elder care with other siblings not recognizing (or possibly not caring) that it is a hardship. Other times, siblings simply can’t agree on the best course of medical intervention or the choice of an assisted living facility.

A Bethesda and Upper Marlboro elder law attorney can actually help avoid or work through some of these issues.

The best approach is to start early.  Most siblings can likely agree that having your parents make their wishes known in advance is a good thing.  The attorney can help them draw up some very important documents before they are even needed. 

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Maryland Asset Protection Lawyer Explains How to Shield Your Investment Properties Using Multiple LLC’s

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As an asset protection lawyer in Bethesda and Upper Marlboro, I find that sometimes it makes sense to advise clients to create multiple LLCs when they own more than one investment property. While it might seem more convenient to simply set up one LLC for all of your properties, you can maximize your asset protection by putting each into its own limited liability company. This LLC should not include any business activity that is not directly related to that particular investment property.

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Trust attorney in Bethesda and Upper Marlboro Asks, “Do You Need a Gun Trust?”

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When it comes to wills and trust administration, it seems like we see it all here in Bethesda and Upper Marlboro.  From pet trusts to special needs trusts, there are a variety of unique circumstances that need to be addressed in many people’s estate planning.  One such concern is that of a gun trust.

Wills in Maryland are created specifically to dictate how one’s assets are to be distributed, and trusts do the same, while sometimes affording extra protection and benefits.  Those who collect guns for various reasons often have reason to add this type of protection to their estate plan.

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3 Mistakes To Avoid When Planning Your Estate

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MISTAKE #1 –Choosing a lawyer who will charge you outrageously high hourly rates for simple services.

Many lawyers will lure you in with “cheap” basic services and then proceed to rack up the fees as they execute planning services which really should have been covered by the flat fee.

When you’re investigating flat fee services from a lawyer, here are some simple questions to ask:
• Are all of your fees flat fees?
• What about ongoing work after the initial completion of my estate plan documents?
• What happens when I call with legal questions 2 years after my planning documents were completed?
• What if the questions are about something other than my estate plan?
You need to be satisfied by the answers you receive to these questions, as they often sneak up on families’ after-the-fact, and can be a major drain on your family’s cash flow.

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Wills and Estates Lawyer in Bethesda Says, “Don’t Sign Up For That Pre-Paid Funeral Until You Ask These Questions!”

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Many people like the idea of choosing a funeral home and making their own arrangements to ensure their loved ones are never burdened with the task. Pre-paid funeral plans allow you to make all the decisions ahead of time and pay for it in installments. Not having your loved ones put in the position of planning and paying for your funeral is a wonderful idea, but before signing on the dotted line on any agreement, be sure to ask the following questions:

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Bethesda and Upper Marlboro Estate Planning Lawyer Explains How a Prenuptial Agreement is a Key Piece of Estate Planning Too

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If you’re thinking about having a prenup drawn up before you tie the knot in Montgomery or Prince George’s County, you may want to find an attorney who focuses on estate planning, too. Perhaps surprisingly to some, a prenuptial agreement can be a key piece of estate planning documentation.  Many couples in Bethesda and Upper Marlboro see the importance of creating a binding prenuptial agreement to protect their assets and plan for their future.

Today, blended families are far from unusual.  During the newlywed planning phase, the couple needs to consider what happens to “yours, mine, and ours” in the event of divorce, as well as death.  You may each have certain items or financial support that you want designated specifically for your own biological children, and a prenup in combination with estate planning documents is used to make these wishes known.

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Maryland Estate Planning for Couples Marrying Later in Life

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Couples who choose to marry later in life have different concerns from those marrying earlier, and a good Bethesda estate planning lawyer can help you make the right decisions for your circumstances.  Each situation is a little different, but there are some fairly common topics that should be considered:

  1. Do the husband and wife have grown children?  If so, then the estate plans will likely need to include specific instructions regarding how inheritance will work.  This is fairly important to ensure that each biological and step child receives what the parent wishes, rather than allowing Maryland laws to supersede your desires.

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Estate Planning – It’s About Taking Care of Your Loved Ones

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I hear the same excuses over and over….

I don’t have an “estate.”

I have more debt than assets.

The only thing I have is my home.

As you may have guessed, these are excuses that people make for not preparing an estate plan. These people are sadly misinformed. They think estate planning is only about money. Estate planning does take care of financial issues, but the way I see it, the most important reason for doing an estate plan is for the benefit of the people that you leave behind.

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