Chesapeake Wills & Trusts

What happens to real estate in probate in Maryland is pretty straight forward. When real estate goes through probate, it is an asset of the estate. As an asset of the estate, the beneficiaries can decide what they want to do with it as an ultimate distribution: do they keep it themselves, does one beneficiary buy the other out, do they sell it and divide the proceeds?

The Personal Representative is the person empowered by the government to act on behalf of the estate. When the Personal Representative is appointed, they receive Letters of Administration form the court. This is the court order that allows them to get to work. As the personal representative of the estate, you will be expected to guide the estate through the probate process.

Probate is the court-supervised process of identifying the assets, debts, and beneficiaries of the person who passed away (the “decedent”). If the decedent had a will, the will tells us how to ultimately distribute their property. If the decedent died without a will, they died “intestate” and the law tells us who inherits what and how much.

Taking care of a person with dementia is challenging. Now imagine having to acquire power of attorney over them. Well, it may seem tough, but it’s not impossible. A person with dementia can sign over power of attorney if they understand what the document is, what they are approving, and what it does. But, if the disease progresses, you may have to enlist the help of your local court. The judge will then review your case and grant a court designee or family member the title of a conservator. A conservatorship enables the designee named by the judge to make financial decisions on behalf of the individual. Guardianship allows the court-designated individual to decide about the parent’s health care. While acquiring power of attorney for an elderly parent may look like a cumbersome process, it certainly does help you advocate for your loved one’s healthcare.

Yes, you can have more than one power of attorney. However, most lawyers tend to advise against this move. First, it’s important to note that there is no legal reason why you cannot have more than one power of attorney. But, the real question should be, can you obtain more than one person for a POA for an elderly parent? The answer to this question is no unless there is a specific reason; having more than one person for a POA for an elderly parent comes with potential problems. It increases conflicts, as the more people there are, the higher the likelihood they will disagree. A conflict can paralyze guardianship as each decision-maker will want to overrule the other. The POAs may also disagree over who among them is in charge, even though all participants have equal rights. There is, however, one exception to this rule. For an aging couple, it is always best to name your spouse and a responsible child as your POA. This ensures that if one of your stepparents is incapacitated, their needs will still be met.

It's a good idea to review your estate plan every few years to make sure it is still up to date and reflects your current wishes. You may also want to review it if there are changes in your family situation or your financial situation.

If you die without an estate plan, your assets will be distributed according to state law. This may not be what you want, and it could cause problems for your loved ones.

Chesapeake Wills & Trusts can help you with estate planning. You can contact us through our website or you can also call us.

Everyone should have an estate plan, regardless of their age or assets. If even you don't have many assets, estate planning can ensure that your wishes are followed and that your loved ones are taken care of after you're gone.

Estate planning is important because it allows you to control what happens to your assets after you die. Without a plan, your assets will be distributed according to state law, which may not be what you want.

No. Many assets are non-probate assets, which means they were either jointly owned with someone else or had a designated beneficiary that allows for a quicker distribution. A probate asset means the asset was solely owned by the decedent at the time of their death, and those assets must go all the way through probate before being distributed.

A will allows for the decedent to control some of the most important part of the probate process, but it does not avoid probate. A will can tell us who the Personal Representative is going to be and even tell us who gets what from the property of the decedent, but the probate process is ultimately necessary to use the court’s power to change title to assets and conform with the legal requirements of an estate.

If you have been named the Personal Representative of an estate, your main job is to make sure the wishes of the deceased are honored while also fulfilling the requirements of the probate court. This begins by opening an estate. After opening the estate with the Register of Wills, you will need to make sure the appropriate paperwork is filed along the way, assets are properly appraised, creditors are notified, and ultimately that assets are distributed correctly.

In order to establish a guardianship over an adult you must file a “Petition for Guardianship” in the county in which the person resides. The petition for guardianship must be accompanied by medical proof of disability. Once the petition for guardianship is filed, the person who is the subject to the guardianship, now referred to as an “alleged disabled person,” will have an attorney appointed for him or her. In the State of Maryland, a guardianship proceeding is adversarial, meaning that the alleged disabled person could contest the imposition of a guardianship and even demand that the determination of whether to appoint a guardian be brought before a jury.

Protecting assets from the high costs of nursing home care is often one of the most important issues people deal with during their estate planning. Some people choose to plan ahead by establishing irrevocable trusts in advance of entering a nursing home. However, even if you or a family member is already in a nursing home IT’S NOT TOO LATE to protect assets and apply for Medicaid. There are several asset protection strategies that can be implemented, and an experienced attorney can provide assistance with these strategies.

The probate process usually takes about 9 months to complete, but sometimes it can take considerably longer if there are challenges to the legitimacy of the will, questions about the value of assets, or doubts about the validity of claims made against the estate. Creditors are allowed 6 months to file claims against the estate. After the required waiting period passes, the Personal Representative can pay valid claims and distribute assets the beneficiaries.

Think of it this way, your estate is made up of all of the assets you own at the time of your death. After your death, your estate is categorized two ways, either as part of your “probate estate” or your “non-probate estate.” Assets that are part of your probate estate are distributed by the terms of your will while non-probate assets are distributed by operation of law, such as beneficiary designations and joint ownership.

An estate plan is basically a legal mechanism that outlines what you want to happen to your stuff when you are unable to care for it anymore. This can be due to death or being unable to make your own decisions while living.

A will allows for the decedent to control some of the most important part of the probate process, but it does not avoid probate. A will can tell us who the Personal Representative is going to be and even tell us who gets what from the property of the decedent, but the probate process is ultimately necessary to use the court’s power to change title to assets and conform with the legal requirements of an estate.

An advanced directive is the name of a document that encompasses both the appointment of the health care agent and the living will.

Private pay is exactly how it sounds: you pay your way through the nursing home for as long as you are there. Recent stats say that the average stay at nursing homes is about three years. Half of people in nursing home care pass away within the first 60 to 90 days and the other half go on to live as long as six years or longer in a nursing home. Combining these numbers is how we get the three-year average.

A probate asset is anything titled in the name of the decedent alone at the time of their death. Probate assets are identified, valued, and reported to the court on the official inventory filed within 90 days of the Personal Representative being appointed.

When someone dies without a will, the government has an estate plan for them. Dying without a will is called intestacy, and the government’s intestate succession plan will decide who gets your property. It depends on what other family members outlive you. Based on who your heirs and descendants are at the time of your death, that determines the starting point for the ultimate distributions. In our article about dying without a will, we walk through some common scenarios and who gets what percentages of an estate of someone who died without a will.

You should contact their employer to inquire about potential death benefits. Many government agencies as well as unions and private businesses often carry life insurance policies as a perk of employment. You should also contact the Social Security Administration and potentially office of Veterans Affairs if your loved one was a veteran. There may be death benefits from either of those agencies. If your loved one had a financial planner, contact them as well.

No. The power of attorney expired when your loved one passed away. Letter of Administration from the Register of Wills becomes the legal paperwork you need.

Yes. Go to every bank you think your loved one may have banked with and ask. Take a copy of your letters of administration and an original death certificate with you, because they will likely ask for those documents.

You should contact the major credit bureaus to report the death. This will not only prevent future fraud if someone tried to steal their identity, what will allow you to get copies of their credit statements. This will show you debts that they owed , and also potentially assets related to that debt.

Next check their tax returns for the last several years. Specifically look for income from investments that you may not have known about, required minimum distributions from retirement accounts, or capital gains from selling securities or other investments that may have made the money. When you look at their tax return, you may also see the name of their accountant. It is worth putting in a phone call to this accountant because they may have valuable leads on property your loved one owned.

The first place to start is by checking their mail, and filing a change of address postcard at the local post office so that their mail is diverted to your address. In their mail, you will find bills that they may owe (you need to track debts too), and that may show you assets that they own that you did not know about, like real estate in another state or a time share. It can also give you information about bank accounts, retirement or investment plans, and other valuable clues to find assets. Also check around the house for a safe, or the key to a safety deposit box. Find your loved ones’ credit card statements. Look for automatic withdrawals in those statements. Also Look at their check register to see the checks that they have written. This can lead you to payments on life insurance policies or other assets that you did not know existed. After discovering them, you can contact the life insurance company directly to inquire. If your loved one applied for credit recently, especially a mortgage, a copy of that application can be a great road map of assets.

Unfortunately, no – there is no centralized database for discovering a person’s assets. You as the personal representative are tasked with creating the list that the register of wills and beneficiaries will use in the probate process or estate administration.

The only way to make sure your assets go where you want them is to do proper estate planning. In doing your own estate plan, you can direct who gets your assets (or, more importantly, who doesn’t get your assets). You can also put protections in place if your beneficiaries are minors or disabled. If you fail to make your own estate plan, the Government will determine how your assets will be distributed.

Yes! A will and a living will are two different documents. A will is an instrument that names your Personal Representative and directs how your assets should be distributed after your death. A living will is your opportunity to direct who will make your medical decisions and what type of treatment you want to receive if your death is imminent.

A Personal Representative is someone appointed by the court to wind up your affairs after death. This could include selling assets, paying valid debts, paying taxes, and distributing assets to your heirs at the end of the probate process. If you have a valid will, you can select the person you want to serve as your Personal Representative.

If you die without a will or a trust, you are allowing the Government to determine who inherits your life savings after your death. The laws of intestacy, which is the Government’s plan for your assets after your death, may provide money to people you don’t want to inherit a portion of your estate. If you don’t have a will or a trust you lose control of where your assets go after your death.

Trusts are an estate planning tool we often use for asset protection, for providing a plan for the management of your assets upon your disability, and to help our clients’ families avoid the Maryland probate process. We offer various types of trusts, and each has its unique uses and benefits. Our estate planning attorneys can help you decide if a trust is right for your family and handle the paperwork to create it as a part of your comprehensive estate planning process. Many people worry their family could lose their home and life savings if they must move into a nursing home or require other around-the-clock care. This is where trusts can offer many families peace of mind. At Chesapeake Wills and Trusts, our team will explain your options and put the strategy in place that is right for your needs.

If you find yourself in a crisis where your loved one requires immediate nursing care and don’t have a plan in place, don’t worry. It’s not too late to protect their life savings. Our Medicaid Crisis lawyers help you protect your loved one’s assets while ensuring they receive the care they need in a difficult time.

Maryland allows you to create what is called an advance directive, otherwise known as a living will, which keeps your family members from having to try to guess what choices you would make about your medical needs and end-of-life care. Your living will outlines your health care preferences and allows you to make difficult medical decisions so your loved ones will not have to. The estate planning team at Chesapeake Wills and Trusts can help you create your advance directive and write your living will, either as a stand-alone tool or as a part of a more comprehensive estate plan. Our attorneys will explain your options and help you weigh tough decisions.

A power of attorney grants another person the authority to make medical or financial decisions and act on your behalf. We create and use these legal documents for various purposes during the estate planning process, but the two most common are financial power of attorneys and health care power of attorneys. The estate planning team from Chesapeake Wills and Trusts can help you create individual estate planning tools or develop a comprehensive estate and asset protection strategy on your behalf. Call us today to talk about your need for a power of attorney or to learn more about how our estate planning services can help you.

Finally, your will outlines how and when your assets will change hands. In most cases, they will transfer to your loved ones during the probate process following your death.

The loss of their home is a very real fear for many people — whether it is to creditors or because they need long-term nursing home care. And for good reason — unless you have a concrete plan in place to protect your biggest asset, it may be at risk. You worked long and hard to buy your family’s home, so it only makes sense to want to ensure your family keeps it after you can no longer make financial decisions or after you pass away. The Chesapeake Wills & Trusts team can help you create your own rule book, including a comprehensive plan that offers protection for your family home.

Even the best-laid plans change. Laws are always being updated and changed. People move, get married, get divorced, have kids, and any number of other changes. We created The Chesapeake Care Plan to keep your plan up-to-date so it will work as intended when you need it most. Better yet, by enrolling in the program, you’ll get a wide range of services at a fraction of the cost of what you would pay for them separately.

Yes, we are proud to serve the entire area of Glen Burnie, MD.

Our office is located at 7310 Ritchie Hwy, #900 Glen Burnie, MD 21061

Hi, yes we do. All of our specifics can be found here https://chesapeakewillsandtrusts.com/

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We can help you understand guardianship, and how advanced planning can play a role in an overall strategy to give you peace of mind about your future and your family’s financial health.

Yes, we are proud to offer adult guardianship services in Glen Burnie, MD.

We can help you create a comprehensive estate and asset protection plan, including the powers of attorney that will allow your loved ones to make financial and health care decisions on your behalf if you cannot.

Hi, the best way will be to go to https://chesapeakewillsandtrusts.com/ and choose the most convenient method.

Yes, we are proud to offer estate planning services in Glen Burnie, MD. At Chesapeake Wills and Trusts, our team offers a wide range of high-quality estate planning services that can meet the needs of your entire family.

A will, sometimes called a last will and testament, is a legal document that tells your family and the state your intentions for your assets after your death. We recommend all our clients draft a will. This is true no matter how small your estate or whether or not you use other estate planning tools to distribute your assets.

Hi, the best way will be to go to https://chesapeakewillsandtrusts.com/ and choose the most convenient method.

1. Hire Our Team We review your assets and understand your wishes. 2. Customize Your Plan You choose a plan that meets your needs whether you’re planning ahead or responding to a crisis. 3. Exhale We execute your plan so you can relax knowing everything is protected.

Long-term care can be very expensive. While many senior adults will require long-term care as they age, few take the time to plan ahead for it. Our elder law attorneys use services like trusts, powers of attorney, and asset protection to help you or your elderly parents put a plan in place that helps you avoid crisis later.

A living will and an advanced directive are extremely important parts of your overall estate plan. An advanced directive is the name of a document that encompasses both the appointment of the health care agent and the living will. The living will sets forth your end of life treatment preferences. The Maryland Living Will form provides selections should you be diagnosed in one of three conditions: 1) terminal condition; 2) persistent vegetative state; 3) end-stage condition. Your family will thank you for selecting the person to make health care decisions for you AND selecting the treatment you choose to receive if death is imminent.

The most overlooked part of the estate plan is the appointment of a financial and medical Power of Attorney. The appointment of a Power of Attorney could prevent your family from the need to obtain a potentially expensive and time-consuming court-supervised guardianship over you at some point in your lifetime. Be careful as not all power of attorney documents are alike. In order for your Power of Attorney to take all necessary action on your behalf if you become disabled, proper provisions must be included in Power of Attorney documents.

Whether to plan with a will or a trust is an individual decision that is best made after consulting with an attorney. Some clients like the simplicity of creating a will, but others determine a trust is required to ensure their family avoids turning to the court system to distribute assets after death. Trusts can also protect assets from creditors and protect assets from the high costs of nursing home care. Contact our experienced Glen Burnie estate planning attorneys to learn more.