Monday, May 14, 2018

Wills Lawyer in Ellicott City Eases Estate Plan Worries

For individuals who own their own business or have a variety of assets, generating a Will on your own is not advisable. There are several layers when it comes to the financial makeup of business assets. By working with a Wills lawyer, you can be sure that your personal and business possessions are protected and administered appropriately.

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Wednesday, December 20, 2017

What Do You Need in a Wills Lawyer?

Estate planning isn't just for the wealthy; anyone who has assets – either money or property- or the care of minor children should have a will prepared by an experienced wills lawyer. Nothing can sour familial relationships faster than arguments over the dispersal of assets. Dependent children who are orphaned without a legal guardian may suffer from lengthy custody cases. Even if you are young and healthy, having a legal document in place to protect your wishes is always the smart choice.

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Monday, July 31, 2017

What Is a Will and What Is an Estate Plan?

The term estate plan is, I believe, marketing terminology used by estate planning attorney to attract clients with money. I also believe that this terminology makes estate planning unattractive to most people since they do not have large “estates” and are just looking for a will. When I first heard the term “estate” in law school over a decade ago, I pictured a palatial estate with fountains and manicured lawns.

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Wednesday, June 14, 2017

Will Drafting in the State of Maryland

To write a valid will in the state of Maryland you need to quite a few things. Here’s a discussion of what most people require when they draft their will.

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Thursday, February 16, 2017

Ellicott City Wills Lawyers

Unfortunately, in our capitalist under-regulated society, everyone wants to make a buck. Be careful of working with an attorney who doesn’t immerse themselves in the area of practice that you need.

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Wednesday, August 17, 2016

Trust Administration (Part Two) (Pros and Cons)

I’ve written on the importance of a trust administration lawyer before, here, and I am going to touch on the process again. Trust administration is becoming more and more of an issue for Americans because of the growing popularity of revocable living trusts. While I believe that revocable living trusts are unnecessary for most people, if a trustee has been chosen to administer a trust, he or she must face a task that can be even more daunting than a probate. That means trustees may need the assistance of an attorney.

Trust administration is not overseen by courts in the same way that probate is.

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Friday, August 5, 2016

Choosing a Trusts and Wills Attorney in Columbia, Maryland (Howard County)

Choosing an attorney is like choosing any service provider. Various factors need to be taken into account before making a decision, including cost, reputation, and even likability of the provider. Lawyers are licensed service providers who generally work hard to provide the best service possible.

Your will is a vital part of the organization of your estate. While writing your own will is perfectly legal, it’s generally not a good idea: having a wills attorney draft it for you is the best course of action.

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Tuesday, July 5, 2016

Probate in Howard County, Maryland (Part One)

What is probate? Probate is the system in place in most of the United States that administers the wills of estates. When you die, your estate passes through probate and money owed to creditors (and attorneys) is paid out, followed by property that is due to beneficiaries (heirs).

In Howard County, probate is a straightforward process. The Register of Wills in the county is located in the Circuit Courthouse in Ellicott City. The Register of Wills is the office that oversees administration and helps to guide personal representatives (executors) through the process toward its eventual conclusion and closure.

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Friday, May 6, 2016

Dying Without an Estate Plan

There’s a common belief, even held by some attorneys, that you do not need to have a will or any type of estate planning done before you die. Many feel that the intestacy laws, the laws regarding people who die without a will or trust that manages their assets, are written well enough that your loved ones will get what they need when you die.

For some, this will be true. If you own a home together with a spouse and you die, your spouse will own the house without having to go through probate as long as the home was purchased jointly by the spouses when they were married. Most people’s estates are made up of a piece of real property, a car or two, and whatever is left in the bank.

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Wednesday, April 27, 2016

Wills vs. Trusts

Generally, there are two ways to administer a person’s estate when they die: wills and revocable living trusts. Most attorneys draft wills for their clients, but a growing minority of attorneys draft revocable living trusts. Revocable living trusts are “sold” to clients as a way to avoid probate. Probate is, as you may know, the actual administering of someone’s estate. It’s how beneficiaries (or creditors) get their money! A revocable living trust avoids this process, saving time and money.

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The Law Offices of Rick Todd has offices located in Columbia, Chevy Chase, Fairfax, Virginia, and Maryland and serves clients throughout Clarksville, Columbia, Ellicott City, Fulton, Rockville, Bethesda, Potomac, Laurel, Howard County, Montgomery County, and Washington D.C.

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