Revocable Trusts and Living Trusts in Bethesda Maryland
Experienced Maryland trust drafting attorneys
In complex estate plans, trusts plays a major role. The trust should work seemlessly with the other components of your estate plan . As part of a comprehensive estate planning practice, our law firm of Daniel S. Willard, P.C. offers trust drafting services to clients throughout Maryland and the District of Columbia. Dan Willard, an experienced Bethesda trusts lawyer works with you to understand your financial position and your goals for your family and other potential beneficiaries.
DIY simple wills are almost everywhere. Because dying “intestate” (without a will) can cost a lot in taxes, a DIY will may be better than nothing. If you are thinking about writing a will, you probably have not made it through life simply by choosing the options that were better than nothing.
Intestacy When the terms of the will (or of a more comprehensive estate plan) do not cover estate property, that property may well be distributed to beneficiaries and in amounts you did not intend — all in accordance with the Maryland or D.C. Codes.
Revocable and irrevocable trusts
Revocable trusts: The advantage to the client of a revocable trust (also called an intervivos trust, and sometimes, a living trust) is that the maker of the trust (called the settlor) can generally freely modify a revocable trust at almost any time up until death. A revocable trust generally becomes irrevocable upon the death of the settlor.
Irrevocable trusts: An irrevocable trust generally can be modified by the maker/client/settlor only under certain circumstances such as by a court order. Irrevocable trusts, used properly, can have certain tax and other benefits, including Medicaid eligibility.
Testamentary trusts. Testamentary trusts — generally, trusts created by a will — are generally irrevocable.
Living trusts. Living trusts may be revocable or irrevocable.
Trusts lawyer Dan Willard can help you understand the difference between revocable and irrevocable trusts and determine which type of trust better assists your vision in a given situation.
To help make some combination of your will and trust options work for you, consult an experienced Montgomery County, Maryland trusts lawyer today.
With more than 25 years of experience, attorney at the Dan Willard, Esq., can advise you about all aspects of trusts and estates issues, including:
- Estate planning with trusts
- Maryland Uniform Transfers to Minors Act
- District of Columbia Uniform Transfers to Minors Act
- Revocable trusts (intervivos or living trusts)
- Irrevocable trusts
- Generation skipping trusts
- Charitable Remainder trusts
- Pourover Wills
- Trust drafting and execution
At the Law Office of Daniel S. Willard, P.C., we can advise you on the options more likely to help you achieve your estate planning goals. We thoroughly analyze your estate and work with you to plan to transfer your assets, minimize taxes,
establish guardianships for your children, support personal philanthropic
causes and help protect your loved ones. We can draft trusts that help reflect your goals.
By Dan Willard
Contact the meticulous trust drafting lawyers at the Law Office of Daniel S. Willard, P.C.
The Law Office of Daniel S. Willard, P.C. serves clients in Bethesda and throughout Maryland and Washington, D.C. To schedule an appointment, call us at 301-424-1177 or contact us online today.