Owning property is a huge investment and the single biggest asset most people will have in their whole life. An estate law attorney in Bel Air, MD can help protect that asset, as well as protect immediate family members. Planning for the unexpected is not a pleasant thought, but will provide people with peace of mind. A sudden death, without provisions in place, can cause unnecessary stress and chaos within a family. There may be arguments regarding how property is divided, the estate can fall into decay, or family members can be forced from their home.
Planning ahead means no one has to guess about the wishes of the owner. Wills, trusts, estate succession planning and money set aside for maintenance and upkeep can sustain surviving family members after an estate owner dies. Life is uncertain, so it is never too early to speak to an estate law attorney in Bel Air, MD to begin the planning process. An experienced attorney, such as Michael S. Birch Attorney at Law, will be able to listen to needs, concerns, and preferences of property owners. Immediate actions can be taken, such as drawing up a will and deciding on a power of attorney, which will protect the family and property. As wealth builds, trusts can be established, and accounts can be setup to ensure the property remains functional and in excellent condition. Reviewing those arrangements periodically with the attorney allows owners to make any changes desired.
Other areas of estate planning include living wills, advanced directives, and probate documentation. Those actions protect the interests of the family should the owner become terminally ill, be critically injured in an accident, or suffer from dementia. Legal documents can indicate the wishes of the owners if they are not capable of voicing those wishes themselves for whatever reason. Discuss issues with family members, make desires known, and have the legal papers in place to avoid problems with probate. An attorney can make recommendations, explain how each option works, and ensure all documentation is legal and binding. Do not leave the fate of the immediate family or the property to chance.
