Licensed in Maryland, West Virginia and Pennsylvania
Wills, Trusts and Your Estate Plan
Why You Need A Will
A will is the most common estate-planning tool, and one that people tend to be most familiar with. A properly drafted will provides for the distribution of your property upon your death. Most importantly, by making your wishes clear now, you will remain in control of the process instead of a probate judge. This can limit future disputes among family members. It can also answer important questions like:
- Who will take care of your children if they are still minors?
- What do you want to happen to your home?
- What type of funeral would you like to have?
- Do you want to establish a trust?
As your lawyer, Mr. Boyce can help you think through all of the major and minor details that will need to be addressed in your will, finding solutions for your unique needs.
What Can A Trust Do For Me?
Trusts are becoming an increasingly popular estate planning option. Trusts can be set up in your will, known as testamentary trusts, or can be set up during your lifetime, known as irrevocable or revocable trusts. A trust can be a useful device to reach beyond the grave and allow you to direct the distribution of your assets long after your death.
Life insurance trusts can have tax benefits to your estate. Revocable or living trusts can avoid the expense and delays in the probate process. If you have property in different states, a revocable trust will avoid probate in multiple jurisdictions. Additionally, assets in a trust can be distributed quickly upon your death.
Contact Attorney Arthur W. Boyce To Learn More
Mr. Boyce can help you decide on which estate planning instruments will best meet your needs. If you would like to discuss how a will or trust can benefit you, call 240-575-1033 or e-mail his office today.