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Many people believe wills and estate planning are the sole province of the wealthy. Nothing could be further from the truth. These instruments are essential if you are interested in maintaining the assets accumulated over a lifetime and ensuring those assets are handled according to your wishes when you cannot manage them for any reason. The wills and estate planning attorneys of DuBoff & Associates, Chartered can help.
If you die without a will in the state of Maryland, your estate goes into probate, where a judge will be responsible for deciding how your property should be divided. However, a probate judge cannot possibly know the deep sentimental and emotional value attached to these items and will likely divide them up solely by their monetary value. In addition to ensuring an orderly distribution of your property, a good estate plan protects your heirs from having to pay more inheritance and estate tax than is necessary.
A will is a document, signed by witnesses that directs how your assets are to be divided among your heirs when you pass away. Someone who dies without a will is said to have died intestate. The process of administering an estate, regardless of if the deceased person had a will, is called probate.
A living will explains which medical procedures you want to have performed and which you want to reject if you are dying or in a permanent vegetative state. That is a very important distinction. If you are not in a terminal condition or a permanent vegetative state, your living will has no effect. A durable power of attorney for health care, on the other hand, allows a named individual to make medical decisions for you if you cannot communicate your own wishes.
We can write and administer any estate planning document to ensure it accurately reflects your wants and desires as to the division of your property. This needs to be a document that will stand up to scrutiny and challenge by any disgruntled heirs. At DuBoff & Associates, Chartered, we listen to you and develop a plan tailored to you and your family’s or business needs.
At DuBoff & Associates, Chartered, we realize how important protecting the assets accrued over a lifetime is to our clients. We have more than 50 years of combined experience helping clients with many legal issues, including small business formation. Our firm serves California, Washington, D.C. and all of Maryland, including Bethesda, Bowie, Rockville, Germantown, Easton, Laurel, Silver Spring, Montgomery County and Prince George’s County. Contact us today online or at 301.495.3131 to see how we can put our experience to work for you.