Everyone should have an estate plan – regardless of age or size of the estate. Estate plans typically include the WILL, the POWER OF ATTORNEY, and the ADVANCE DIRECTIVE (also known as the living will). For those with more complex estates, particularly when property is owned outside of the State of Maryland, a REVOCABLE TRUST may be an appropriate estate planning tool for management of property both before and after death. Additionally, a TRUST written into the will (called a “testamentary trust”) may be appropriate in order to preserve the estate from various death taxes if the value of the estate exceeds a certain amount, and/or to manage property left to a minor or disabled person.
A will enables an individual to decide what happens to his or her property after death. A power of attorney permits a trusted relative or friend to manage financial assets and property in the event of disability or even unavailability. The advance directive provides instructions and guidance to loved ones in the event that the individual has a terminal end-stage illness or injury, or is in a persistent vegetative state, is unaware of his or her surroundings, and cannot make or express decisions regarding his or her own health care. The advance directive also designates a loved one to make medical decisions for an individual who is unable to make or express such decisions for himself or herself.
The attorneys at McCann Law are compassionate, experienced and knowledgeable in counseling clients regarding their estate plan, and in drafting appropriate documents to suit an individual’s particular goals and needs. We take the time to understand each client’s unique situation in order to advise her or him appropriately. We understand how difficult it can be to address these matters and to make such decisions. We want our clients to fully understand the documents we prepare for them and to walk away with peace of mind. We have the patience and sensitivity to assist clients through this process so that they are confident that they have done everything they can to protect their loved ones, their property, and themselves in the event of disability or death.