Drafting up a variety of vital estate planning documents sounds like a headache, but it doesn’t have to be. Our Montgomery County estate planning attorney will make this process more efficient so that you won’t have to stress about planning. Call us today and let us do the work.
Why is a last will and testament an important estate planning document?
The reason that a last will and testament is included in an estate plan is that it ensures that the people or causes that are important to you are looked after following your passing. A will allows you to specify who will inherit certain assets and who you’d like to be the guardian of your children and pets. Your will can be as specific and robust as you’d like, so you can designate every asset from investment accounts to real estate. Having a detailed last will and testament allows your executor to follow your wishes after your passing, ensuring that your loved ones and prized possessions are cared for. A major benefit of this is the peace of mind it gives you to know that you’ve left a comprehensive plan in the case of your death. Contact our Montgomery County will drafting attorney so we can begin drafting your will.
What is a revocable living trust?
A revocable living trust is another important document included in an estate plan. Its purpose is to allow you to distribute your assets following your death. A revocable living trust essentially “owns” the assets you put into it, but allows you to continue using these assets. In the event of your death, your assets will be efficiently distributed to your beneficiaries. In order to set up a revocable living trust, you must create and sign the document before then naming a trustee. Your trustee will then be responsible for managing this trust. A revocable living trust may not be needed for every person’s estate plan, but it is particularly useful for those with a large estate or who own a business.
Why are funeral instructions and wishes included in an estate plan?
Funeral instructions and wishes aren’t a part of the legal documents that comprise an estate plan, but they’re important nonetheless. This portion of your estate plan is where you will dictate if and how you’d like to be buried or what passages you’d like to be read at your funeral. Think about it like an epilogue where you write down every last detail that you believe will be important in order to tie up loose ends.
Contact our experienced Maryland firm
Our firm has experience with matters of estates & elder law, business law, tax law, and litigation. Contact JD Katz, PC today for assistance.