The Benefits of Estate Planning

Everyone wants the best for their family and loved ones. Individuals who want to prepare for the worst situations in order to provide continuity and support in case of any unforeseen incidents can benefit from planning their wills and estates today as opposed to waiting until the last second. The JDKatz team is comprised of experienced estate planning attorneys who are here to work hard for your future. Our estate lawyers in Maryland have the skills needed to create a personal plan for the continuation of your estate, providing expert guidance and support every step of the way. By focusing on the individual, our tax attorneys are able to work hard to meet the goals of every client we take on.

Estate planning can prove to be one of the smartest moves an individual can make, but one that is often done too late. Today, we’ll look at the benefits of working with our estate planning attorneys, as well as the high expectations of establishing your trusts and estates early on. If you are in need of anything from tax advice to real estate litigation, be sure to contact our team for a consultation!

Providing for the Family

Simply put, estate planning is done to ease the stress and financial burden on your family while they are grieving your loss. Individuals who seek estate planning can take out the uncertainty for family members who are left behind and provide guidance on how to supply inheritances. From financial concerns to the appointment of guardians, every aspect of your family life can be planned for with estate law.

Supplying Clear Instructions

While many people highly trust their close family members, the truth of the matter is that your loved ones may not be able to properly execute your instructions on behalf of your estate. It’s important to have an executor who can carry out your wishes, but it is even more important to have a list of written instructions to minimize chaos while your estate is taken care of appropriately. Living revocable trusts, for example, promise an individual a certain portion of assets per the grantor’s wishes. These wishes may include rules and regulations to ensure that the appointee handles everything appropriately.

Planning for Every Possibility

Life happens, and in some cases, it can throw out a curveball that takes everyone by surprise. Comprehensive estate planning includes caveats that cover the estate in a number of unlikely events. Being incapacitated, for example, is one way in which an individual can be completely at the mercy of their health while still being very much alive. Our Maryland estate lawyers can help you to outline a procedure for any scenario, including the event of a stroke, coma, or any other serious medical concerns.

Avoiding Succession Laws

Anyone that dies without a will or “intestate” will have all of his or her belongings and valuables categorized by their local state to determine how to best divide an estate after one’s death. While intestacy laws are useful for ensuring a uniform process is followed for individuals without wills and for the probate process, these laws are often found to be very impersonal and costly, so be sure to reach out to JDKatz for assistance in creating a will!

Minimizing Tax Responsibilities

Our law firm has a full complement of professional tax attorneys for a reason. Death and taxes are the only constants in our great country, and putting a professional estate plan in place will help to avoid the high court and legal fees associated with an inheritance. Our tax lawyers will be able to sit down with you to design a plan that aims to deliver the most value to your loved ones while avoiding unnecessary fees and costs.

Ensuring Business Succession

Small business owners constitute a large percentage of the entrepreneurial economy, and they also happen to be in the highest need for comprehensive estate planning. You want your operations to continue after your death, otherwise things can go south quickly. Appointing a successor and continuing business plan will help to keep your company on track and prevent your family from dealing with additional financial hardships.

There are many reasons why residents seek out a professional estate lawyer in Maryland, and essentially zero reasons behind why you should not. Our estate planning attorneys are here to help you plan your life’s assets in the event that something goes awry. Contact us today to learn more or to schedule an appointment for your estate plan.