Everyone needs an estate plan. "Estate Planning" refers to the process of putting your wishes into writing; and therefore, making those wishes known and binding when necessary. A basic estate plan is typically comprised of the following documents: 1) Last Will and Testament (or sometimes a Revocable Living Trust and Pour-Over Will); 2) Durable Financial Power of Attorney; and 3) Advance Health Care Directive (Durable Health Care Power of Attorney and Living Will).
A Will or Trust is necessary to ensure the orderly management and transfer of your assets upon your death. Additionally, without powers of attorney and advance directives, a lengthy and costly guardianship proceeding in Circuit Court may be necessary if you become unable to make decisions regarding your personal affairs and medical care due to a disabling medical condition.
In short, a basic estate plan is necessary to make sure your wishes are carried out upon your death or upon you becoming disabled in the future. Medicaid or other government benefits received by you or family members may also require consideration. Mr. McDaniel will personally review your unique circumstances and properly draft the documents needed to carry out your wishes.
To schedule a free consultation, call (410) 812-5457.
Mr. McDaniel can assist personal representatives of an estate with all probate matters. Personal Representatives and Trustees are often loved ones and close friends of the person whose estate they are responsible for administering. In addition, their relationship to family members and heirs can cause uncomfortable confrontations and pressures when carrying out administrative duties. Delegating estate administration matters to Mr. McDaniel will help to ease the burden on those left behind, enabling loved ones and friends to properly grieve during a very sensitive and difficult time.
Mr. McDaniel can assist the personal representative in opening an estate with the Register of Wills, filing the required inventory/information reports, submitting the necessary accountings, dealing with creditors, filing tax forms with the IRS, properly distributing assets to beneficiaries of the estate, and all other steps necessary for administering the estate.
To schedule a free consultation, please call (410) 812-5457.