What legal documents will I need to establish my estate plan?

Creating an estate plan in Maryland involves preparing and executing several legal documents that help manage and protect your assets. Depending on your individual situation, your estate plan may include some or all of the following legal documents: A Last Will and Testament is a written document that states how you want your assets and property to be distributed after your death. It also identifies people who will serve as guardians for your minor children. A Trust is a legal document that allows you to transfer assets to another person or institution during your lifetime. It allows you to specify how the assets are to be managed, and who will receive the benefits of the trust after your death. A Financial Power of Attorney gives another person the legal authority to make financial decisions on your behalf, if you become incapacitated. An Advance Healthcare Directive is a document that allows you to give instructions about medical care if you become unable to communicate. A Living Will is a document that states your wishes for medical treatment if you have a terminal illness or become permanently unconscious. Lastly, if you own real estate, you may need a deed to transfer the property from your name to another person or institution. These are some of the documents that are typically included in an estate plan. If you have any specific questions about what documents you need to create an estate plan, it is important to consult with an experienced estate planning attorney in Maryland.

Related FAQs

What is an inheritance trust?
What should I do if I suspect an invalid will?
What is a health care directive and how does it work?
What legal documents will I need to establish my estate plan?
What is the difference between a will and a trust?
How do I set up a living trust?
What is a testamentary trust?
What happens to my assets if I die without a will?
What happens to an estate if there is no will?
What is a testamentary trust and how does it work?

What legal documents will I need to establish my estate plan?

Related FAQs

Related Blog Posts