Trust Attorney in Owings, Maryland
Located roughly fifty miles southeast of Washington, D.C., Owings, Maryland, is a small, semi-rural town with a population of roughly 2,600 persons, according to the 2024 American Community Survey. With a median age of 45, most residents are older, including individuals and families who may have significant assets they want to pass on to the next generation.
Due to it's proximity to the U.S. capital, the cost of living in Owings and the greater Calvert County is higher than the national average. Therefore, creating an estate plan is an essential step for Owings residents toward deciding how their estate and assets should be managed and distributed. However, planning for what happens to your assets if you become incapacitated or pass away can raise difficult questions, such as who will manage them if you are unable to, who should receive them after your death, and how you can make those decisions clear to the people you care about.
Trusts provide flexible options to hold your assets and pass them directly to your named beneficiaries after your passing. Our experienced attorneys at the Law Offices of Julie A. Schejbal, CHTD are dedicated to helping individuals and families in Owings create trusts and estate plans that reflect their circumstances, priorities, and goals. From revocable living trusts to more complex trust arrangements, we will take the time to understand what you want your plan to accomplish and explain your options clearly.
Although our office is located in nearby Dunkirk, we serve clients in Owings and throughout Calvert County, as well as Prince George's County, Charles County, and St. Mary's County. Contact us to schedule a free consultation and discuss your estate planning needs.
Owings Estate Planning & Trust Resources
The Importance of Setting Up a Trust
The Benefits of Charitable Trusts
Trust Funding Mistakes That Can Undermine Your Estate Plan
Benefits of Establishing a Revocable Living Trust
How Pet Trusts Can Protect Your Animals
Our Estate Planning and Trust Services
Trusts often play an important role in an estate plan, but they aren't automatically the right choice for everyone. The type of trust you need, how to structure it, and which assets to place in it depend on your family, finances, and long-term goals. Our experienced Maryland trust attorneys can help Owings residents evaluate their options and develop plans that may address issues such as:
Managing and distributing assets
Providing for a spouse, children, pet, or other beneficiaries
Planning for potential incapacity
Coordinating trusts with wills and other estate planning documents
Addressing tax considerations
Reducing potential complications for loved ones after your death
We can also help you review your existing estate plan when your family, financial circumstances, or goals have changed. For additional guidance on setting up a trust, contact our attorneys today.
How Can a Trust Fit Into Your Estate Plan?
A trust lets you place assets under a trustee's management for the benefit of one or more beneficiaries. Depending on how the trust is structured, it may give you greater control over how assets are managed and distributed. For example, a revocable living trust lets you retain control of the trust during your lifetime while setting instructions for what happens to the trust assets after your death. A properly funded trust may also allow certain assets to pass outside probate.
However, creating the trust is only part of the process. Your trust needs to work with the rest of your estate plan and be properly funded (i.e., you must properly transfer assets into the trust) for it to accomplish its intended purpose. An experienced attorney can help you consider your estate plan as a whole, explain how your trust fits into it, and outline the steps involved.
What Types of Trusts Can We Help With?
The right trust depends on what you are trying to accomplish. Our attorney can help you understand different trust options and determine which may fit your circumstances. The primary types of trusts we can help you create include:
Revocable living trusts: A revocable living trust can help you manage your assets during your lifetime and provide directions for distributing them after your death. Because a revocable trust generally provides more flexibility than an irrevocable trust, it can be useful if you want to retain control while establishing a plan for the future. We can help you determine whether a living trust makes sense as part of your estate plan and how it should work with your other estate planning documents.
Irrevocable trusts: An irrevocable trust generally provides less flexibility than a revocable trust and can have significant legal and financial consequences. Depending on how it is structured, an irrevocable trust may serve specific estate planning, tax, asset protection, or family planning goals. Before creating an irrevocable trust, understand what rights you may give up and how the arrangement could affect your assets. Our attorneys can explain the potential benefits and limitations of choosing this option.
Why Work With Our Attorneys?
When choosing an attorney to help you establish a trust, it's important to select someone who will listen to your goals, explain your options, and help you understand how your decisions may affect your family. Our attorney, Julie A. Schejbal, has practiced law in Maryland since 1990 and previously served as an IRS attorney. Her tax law background provides additional insight into the financial and tax considerations that can arise when setting up a trust or a larger estate plan.
Our goal is to help you establish an effective estate plan, including wills and trusts. We will take the time to learn about your circumstances and goals before helping you determine what type of plan may make sense for you. We will also answer your questions and explain your options in clear terms. We work with individuals, families, and businesses with a range of estate sizes, including those with substantial or complex assets.
Schedule a Free Consultation With Our Maryland Estate Planning Attorneys
If you have questions about whether a trust belongs in your estate plan, contact us at the Law Offices of Julie A. Schejbal, CHTD, to schedule a free consultation. Our office is located in nearby Dunkirk, Maryland, and we serve clients in Owings and throughout Calvert County, as well as Prince George's County, Charles County, and St. Mary's County. We can review your estate plan, answer your questions, and help you understand whether setting up a trust could benefit your estate.