Everyone has the right to have a say over what will happen with their personal property, wealth and health care in the future. Through a carefully prepared estate plan, an adult can decide who will receive estate assets after passing and who will make important health care decisions in case of incapacitation. This is about much more than just controlling wealth, however. Through estate planning, a Maryland adult can cultivate his or her legacy.
Making an impact on the future
One of the most important benefits of having an estate plan is that it provides the means to protect wealth for future generations. While there are significant benefits to having a plan, many people put this off for various reasons. Estate planning is not bad luck, nor is it something only for the sick, elderly or wealthy. It can protect the interests and well-being of family and loved ones during a difficult time.
Having an estate plan removes the need for loved ones to make high-pressure and emotionally difficult decisions. It can reduce complications and the chance for disputes over the settlement of an estate. Each estate plan is unique, and every Maryland adult has the opportunity to create his or her legacy through thoughtful planning.
The future is unpredictable. It is important to take steps now to secure long-term interests by creating an estate plan custom-tailored to one’s individual needs and objectives. In order to create the best legacy and most effective estate plan, it will be helpful to start with an assessment of the individual situation with an experienced attorney.