Dundalk, MD Wills + Estates Attorney

Baltimore Crimianl Defense Lawyers

Every person with real and personal property they wish to pass on should consider estate planning. Dying without a will or a solid estate plan could cause a number of legal problems for family, and other individuals that you hoped would inherit your property. If you are interested in learning more about how an estate plan could help you, meet a Dundalk wills and estate attorney that can address your concerns.
At Rice, Murtha & Psoras, our skilled legal team possesses a broad range of experience handling various types of estate plans, and we could assist you in creating an estate plan. There are many benefits of drafting a will and using other types of estate planning instruments that every person should utilize to manage their estate. If you are contemplating making an estate plan, call (410) 431-0911 for a free of charge consultation with a member of our staff. Online scheduling of consultations is also possible.

Drafting a Will in Dundalk, MD

When considering what you want to include in your estate plan, a will should be at the top of your list. Executing a will lets the creator of the will, also known as the testator, to declare their wishes for their estate. For example, you could insert a provision in your will that leaves all your belongings to your only child. A will may also be used to name guardians of your minor children or to appoint a person to serve as the personal representative of your estate.

Maryland Requirements for Writing a Will

If you wish to draft a will that sets out your intentions for your estate, you should understand how to create a valid will in Maryland. To draw up a will in Maryland, the drafter needs to sign the will, and the document must be attested to and signed by two credible individuals who observed the testator signing. Many testators choose to have witnesses that do not have a stake in the execution of the document, and that can remain neutral.
If you execute a will and later decide that you need to change a provision or the entirety of the document, you have the option to alter the will. Specifically, the testator of the will could draft an addendum or codicil to the will. When drafting the codicil, you should be aware that it must follow the same laws used when drafting the will. Changes can be made to a will at any point up until the death of the testator. However, if a testator becomes mentally incapacitated, they will not have the ability to alter a will until they recover.
If you drafted a will in another state and moved to Maryland, the requests in the document will be honored as long as it valid in the state where it was originally drafted.

Dying Intestate

If you die without a creating a will, this is referred to as intestacy, and it means all property attached to your estate will be allocated by way of the intestate laws of Maryland. In Maryland, intestate laws distribute property primarily based on how they believe the decedent would distribute property. For example, if the deceased is survived by his spouse and his children, the estate would be split between them, with the spouse receiving half of the estate. This is subject to change depending on the surviving members of the decedent’s family.
It is important to note that the laws of intestacy may not provide for family members with special needs or other people the decedent intended to give their estate to. As a result, it is vital to execute a will if you wish to provide for a certain family member.
There are other estate planning matters we can help you with, speak with our experienced Dundalk wills and estates attorney to know more.

Creating a Trust for Your Estate

A trust is an estate planning tool that can be used to protect your property and other assets from taxes and other expenses associated with the administration of an estate. Specifically, you could place personal items, real estate, and many other assets in a trust for the benefit of a third-party beneficiary.
The grantor of the trust can serve as the executor of the trust, or another person could be named as executor. The executor of the trust should control the assets of the trust for the benefit of the third-party beneficiaries. This means that the executor cannot use assets of the trust for personal gain.
There are multiple types of trusts that can be established based on the needs of the grantor:

  • Revocable trusts
  • Irrevocable trusts
  • Special needs trusts
  • Charitable trusts
  • Marital trusts

If you wish to know more about how a trust can benefit your estate plan, our firm is here to discuss your legal options.

Schedule a Consultation with Our Dundalk, MD Wills and Estate Planning Lawyer to Discuss Your Goals

To draft your will or handle other estate matters, you should communicate with a knowledgeable Dundalk wills and estates lawyer. Rice, Murtha & Psoras understands the importance of having a will and estate plan in place, and we want to offer you the legal representation you deserve. To schedule your free and confidential legal consultation, make contact with Rice, Murtha & Psoras at (410) 431-0911, or use our short submission form online.