Trusts and Incapacitation
Jan. 20, 2020
Dunkirk, Maryland Estate Planning and Trust Attorney
Beyond the preparation of a will, most Maryland residents never consider the importance of planning their estates. And although a properly prepared testament is a necessary part of estate planning, a will is limited in its scope and purpose. Proper estate planning requires a number of decisions that go well beyond what happens to your assets when you die.
For instance, what would occur if you were to become incapacitated to the point that you were no longer able to make decisions? Your will would not be executed because you're still alive. Who would make sure that your minor children are cared for? Who would take over your business? What decisions would be made about your healthcare?
At the Law Offices Julie A. Schejbal, CHTD, we form contingency plans for all of life's eventualities. Maryland attorney Julie Schejbal has been helping her clients write their wills and plan their estates for twenty years.
Powers of Attorney and Trusts
Powers of attorney and trusts are two of the tools that estate planning attorneys, like Julie Schejbal, use to ensure that their clients' wishes are met in the event of an illness or accident. A power of attorney is an instrument that designates an agent to perform functions like manage your assets or endorse legal documents if you're not able to. The power of attorney can establish limits to your assigned agent. They can also be made "durable" which means that the powers terminate upon your death.
A trust is an instrument that places funds under the control of a fiduciary for the benefit of others. While some clients choose to establish trusts because of their tax incentives, others develop trusts that are triggered by an event—incapacitation, the beneficiary reaches a certain age, et cetera. Once this event comes to fruition, the fiduciary can use funds on behalf of the beneficiaries.
For two decades, Maryland attorney Julie Schejbal has been establishing wills, trusts, and powers of attorney for her Maryland clients. When you come to our Dunkirk, Maryland office, you and attorney Schejbal will discuss in detail what you hope to achieve from estate planning. Chances are that you already have some concerns with regard to your family, job, and investments. Additionally, there may be some things that you've never considered before.
Trusted Maryland Estate Planning Attorney
If you are a Maryland resident, and you have concerns about what would happen to your relatives and loved ones in the event that you aren't able to provide for them, you owe it to yourself to meet with an experienced, reputable estate planning attorney.
To schedule an appointment with estate planning attorney Julie Schejbal in her Dunkirk, MD office, contact us at (301) 453-7548. We serve clients from all over the State of Maryland.