Drafting Your Will And Estate Plan

No one knows what the future will bring. However, through a well-drafted estate plan, you can make sure you and your family are cared for in manner that best reflects your goals and objectives.

At the Law Office of Joel E. Segall, located in Owings Mills, we do more than create estate plans: We provide our clients with peace of mind.

 

A Power of Attorney will allow you to appoint a trusted loved one, friend, or another individual who you have confidence in to make important legal, and financial decisions on your behalf should you become unable to make such decisions for yourself. This “attorney in fact” will be involved in these issues, while making sure that your best interests are kept in mind and that they are taken care of in the way you want them to be handled.

Similarly, an Advance Healthcare Directive will inform (or “direct”) healthcare professionals and loved ones as to how you would like end-of-life scenarios to be approached. If you are terminal, an Advanced Healthcare Directive will speak to your stance as to whether you should remain on life support, what forms of care you are willing to accept in terms of nutrition, hydration, and pain medications, and how long such measures should be taken.  The appointed healthcare agent(s) will have the ability to determine and/or change healthcare providers, obtain medical medication otherwise protected by HIPPA, and be present and accompany you while being treated.

Much like a Power of Attorney, an agent is appointed to carry out the wishes of the terminally ill party; however, it is possible to have multiple agents so that a spouse, children, or other loved ones may all somehow be involved in the process.

Regardless of how much or how little an individual has to leave behind, a Will is a legal document which designates what will happen to the property of a person once he or she passes away.

A Will can provide for the transference of wealth accumulated during a lifetime from an individual to his or her beneficiaries or heirs, in accordance with the wishes of the testator or testatrix.

In preparing a Will, consideration is given to tax matters and the preservation of wealth within a particular family unit or to designated third parties. A Personal Representative can similarly be selected in a Will and will be responsible for handling your financial and other affairs concerning the people and items left behind after death.

A Will may also identify specific items that are bequeathed to heirs after the death of the testator or testatrix, including real and personal property. In these bequeaths, a Will may designate how much interest each receiving party will acquire of each property item, and establish a line of succession in case an heir (or “assign”) is not in a position to accept the property. If certain beneficiaries are below the age of twenty-one or unable to take care of themselves, a trustee shall be appointed to manage their bequests until they reach the age of majority or are deemed able to do so.

Estate Planning And Divorce

During divorce, everything changes. Your estate plan should reflect these changes. At the Law Office of Joel E. Segall, we help clients update their estate plans and beneficiary designations to reflect their new marital status after divorce.

At The Law Offices of Joel E. Segall We Can Help

If you already have a Will and wish to make changes, we are ready and able to help address any concerns you may have.
Estate matters are handled in Probate Court in a proceeding through which a Will’s validity is considered and the property bequeathed therein is administered accordingly. The administration process involves the collection of the deceased’s assets, the payment of any remaining debts the deceased individual is responsible for, the payment of taxes, and the distribution of property to the deceased’s heirs.

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