Best Estate Planning Attorneys in Baltimore

FAQs

• What is the non-emergency contact number for the local police station in Baltimore, Maryland?

  For non-emergencies in Baltimore, you may call the local police department at 311. Alternatively, you may reach the Baltimore Police Department Telephone Reporting Unit at 410-637-8849.

• Where can I get a copy of police reports for incidents related to my case in Baltimore, Maryland?

  To obtain a Baltimore police report, email your request to CCU@baltimorepolice.org.

• Are you required to have an attorney to make a will in Baltimore?

  No. You are not required to have an attorney to create a will in Baltimore. However, it is always advisable to seek the guidance of an experienced estate planning attorney when making your will, as they are knowledgeable about provisions that should be included that you may not be aware of. Having an attorney on your side also ensures that your assets are distributed according to your wishes.

• Is a handwritten will considered legal in Baltimore?

  A holographic or handwritten will created in Baltimore is valid if it complies with state law. Maryland only recognizes wills signed by the legally competent testator, who is at least 18 years of age, or by a designated individual with the testator’s permission and attested and signed by at least two credible witnesses in the presence of the testator.

• What will happen to your assets if you die without a will in Baltimore?

  If you die without a valid will in Baltimore, your assets will be distributed according to Maryland’s intestate laws. This means that you have no say in how your estate will be divided, as the state will select your successors and determine the proportion of your estate that will go to each heir. The outcome of the intestate probate process may be completely different from what you would have wanted.

• Can you make changes to your will in Baltimore?

  Yes. If you created a will in Baltimore, you can make some changes. You can always update or revoke a will that you’ve already made, especially if there have been changes in your circumstances, such as welcoming new members into the family or a death in the family.

• Where are you supposed to keep your will in Baltimore?

  Your will should be easy to locate after your death. Many people store their will in a file cabinet, home safe, or a fireproof metal box that is accessible to the representative. Alternatively, you can file your will with the Register of Wills of Baltimore County. To do so, call the office at 410-887-6680 before your visit, then submit your will in a sealed envelope with your name, address, and the last four digits of your social security number.

• What does an estate planning attorney do?

  An estate consists of the total assets that form an individual’s net worth, no matter how large or small. Estate planning attorneys use their in-depth knowledge of state and federal laws to help people best manage what will happen with their estates after they die or become incapacitated. Estate planning attorneys can prepare wills, form trusts, reduce estate tax burdens, and decrease or eliminate the need for probate court.

• What are valuable estate planning services an attorney can provide?

  With the many intricacies of assets, taxes, and state and federal laws that can affect a person’s estate, an estate planning lawyer can be a valuable professional asset, no matter how large or small a person’s estate may be. An estate planning attorney can:

  • Create a comprehensive plan to protect a client's legacy, that includes a will, power of attorney, trusts, life insurance, and advanced medical directives
  • Optimize an estate plan as tax laws, life events, assets, and goals change over time
  • Protect a client’s loved ones by preventing assets from entering probate
  • Help clients designate a person to make important health decisions for them if they become incapacitated

  
  

• Can estate planning attorneys help create trusts/wills?

  Estate planning attorneys can create trusts and wills. Through a will, an attorney can help a client designate their estate’s beneficiaries and assign an executor to represent the will in probate court. These attorneys can also create trusts, allowing a client to assign a trustee to oversee the estate, potentially avoiding probate court and holding assets to be distributed over time.

• Is estate planning the same as drafting a will?

  While both estate plans and wills officially document how their owners wish to allocate certain assets after their death, there are key differences. In estate planning, a will is often just one of several documents that form a comprehensive plan. In a will, people must designate a person responsible for executing their will after their death. The will can include guardians for their children when they die and beneficiaries to receive an inheritance of money, property, and other assets.

• What are the steps involved in estate planning?

  To create a thorough and effective estate plan, individuals should follow these steps:

  • Prepare a will that designates an estate executor; indicate who will receive what assets, and assign a trust and guardians for any children. Consider using an attorney if the will is in any way complex.
  • To avoid probate, have an attorney create a revocable living trust.
  • Assign beneficiaries to other assets, such as life insurance policies, retirement plans, and securities.
  • Use an attorney to prepare a living will, name a health care proxy, and create a HIPAA release form.
  • Update the plan every five years.

  
  

• How long does the estate planning process last?

  The length of the process can vary greatly depending on the size and complexity of the estate, the specific law office, and whether there’s an emergency or urgent need. If you’re using an attorney, you can generally expect it to take one to five weeks. You may be able to speed up the process by immediately providing your attorney with any bank statements or other documents they need.

• What is a trust?

  A trust is an agreement between a grantor, a trustee, and a beneficiary. In this agreement, the grantor allocates funds or real property assets to the trustee to be held either until the grantor passes away or until a specific, agreed-upon date. At that point, it's the responsibility of the trustee to distribute funds or property to the beneficiary or beneficiaries. While there are similarities between a will and a trust, a will is a more comprehensive document that typically requires probate court, while a trust allows assets to pass to the beneficiary without probate.

• How does a trust fund work?

  When opening a trust fund, a grantor allocates a trustee to oversee and manage assets in the account. This trustee can sometimes be a relative, an estate lawyer, or a bank that acts as the legal owner of the trust. While holding assets, the trustee is required to file taxes on trust assets.

• How does a living trust work?

  A living trust enables a grantor to manage their assets through a trustee while still alive. They can continually add funds and/or property to their trust fund by transferring them to the trustee, who accepts ownership of everything held in the fund. The grantor can name a beneficiary for their trust, and their assets will be automatically transferred to that person or establishment upon their death.

• Do I need a lawyer for a will?

  No, a lawyer is not required to draft or complete a will. However, there are some scenarios in which hiring an estate lawyer to assist with a will is a good idea, including when children or high-value assets are involved. Additionally, an estate lawyer can help to reduce probate fees and taxes paid by loved ones after a person dies. It's also best to work with a professional to ensure that the will addresses everything necessary, such as funeral plans, guardianship, and asset distribution.

• Can you have both a will and a living trust?

  Yes, and individuals who have a living trust should also have a will. While a living trust enables a person to leave funds and assets to a loved one when they're gone, a will is required to cover any assets that aren't included in the trust, such as guardianship of dependents, funeral plans, and forgiveness of outstanding debts, if applicable.

• How much does it cost to set up a trust?

  The cost of setting up a trust varies quite a bit depending on a variety of factors, including terms that are in place, special provisions for minor beneficiaries, and trustees' basic fees. In most cases, the minimum cost of setting up a trust is about $1,500, but depending on the factors mentioned above, this cost can increase by thousands of dollars.