What are the elements of an estate plan most commonly sought by Montgomery County, Maryland Residents?

will gavel

Frequently, Montgomery County residents from places like Rockville, Kensington, and Chevy Chase come to our downtown Bethesda office located next to the Hyatt Regency, Bethesda, looking for answers to their estate planning questions. One of the most common, posed to the JDKatz, P.C. legal team is:

Which elements are included in a customized estate plan?

  • Wills – A will allows you to distribute your property (whether located inside or outside of Montgomery County, or even the State of Maryland) per your wishes upon death, name an executor, and provide other end-of-life instructions. Wills are essential estate planning documents for Maryland residents.
  • Powers of Attorney – Powers of attorney authorize others to make decisions if you become incapacitated. Two important ones are:
    • Medical powers of attorney – Give someone authority over healthcare decisions if you can’t make them yourself. A healthcare directive does this.
    • Financial powers of attorney – Allow someone to handle finances like paying bills if you’re unable.
  • Trusts – Trusts let you place property into accounts not subject to probate after death. We offer a variety of specialized trusts tailored to your needs, depending upon whether you are looking to avoid probate, avoid estate taxes, avoid the Maryland Inheritance tax, or provide for continuity of care for a child or other loved one. We even draft trusts for pets, so that you can ensure your beloved companion is well taken care of, even after you’ve passed!
  • Guardianships – We can help you establish court-approved guardianships for minors, disabled adults, and incapacitated seniors in as part of your estate plan. For residents receiving benefits from the Montgomery County Department of Social Services, Medical Assistance, or SSDI beneficiaries, we can tailor planning directly to address these needs as well.

At JDKatz, our attorneys have extensive expertise in estate and tax planning strategies that benefit Montgomery County residents. We can optimize your estate plan to minimize taxes.

Depending on your specific estate planning goals and circumstances, we may recommend additional options for your Montgomery County estate plan. Contact our experienced estate planning law firm JDKatz, P.C. to create a customized plan for you.