Hiring a Maryland Trusts Lawyer
It is important for an attorney-client relationship to be based on honesty and truthfulness. You should be candid with your Maryland trusts attorney so that they understand the nature of your estate planning goals, assets, and family dynamics. This will allow your attorney to assist you in creating an estate plan that is not only comprehensive, but that also meets your estate planning needs.
One important aspect of a relationship with a trust attorney is good communication. A trust attorney in Maryland may help you establish a trust, but they may also be working with you for several years to help you or your trustee administer the trust. Therefore, it is important to disclose your family dynamics, the nature of your assets and how they are titled, your goals for creating an estate plan and caution your attorney against anything that may have practical effects on your estate plan.
What to Look for in a Maryland Trusts Lawyer
You should look for a Maryland trusts attorney who is willing to continue to build a relationship with you to administer the trust in the most effective way. The attorney can help guide you to make sure that your assets continue to remain titled in the trust, re-title or to title new assets in the trust, work along with your financial planner and your accountant to determine what assets should fund a trust and determine how those assets should be maintained or distributed. The length of your engagement with your attorney depends on the complexity of your trust and the nature of the administration required.
Speaking with a trusts attorney in Maryland can help you learn more about your options. You should speak to an attorney to determine what types of trusts you may want to include in your overall estate plan and to determine which types of trusts may provide you with the most effective and efficient means of accomplishing your estate planning goals.
How a Maryland Trusts Attorney Can Help
A trust attorney in Maryland can help you with decisions about funding or defunding your trust. An attorney could also help advise you about how the trustee is administering assets. Typically, a Maryland trust lawyer will work along with a trustee and a financial planner or an accountant to determine the best way to hold your assets. A trust attorney will not give financial planning advice, but they may assist you in making sure that your trust assets are properly titled to be administered pursuant to the provisions of the trust document.
Adjusting to Major Life Changes
Generally, you should speak to a Maryland trusts lawyer anytime there is a major development in your life to determine whether or not it has an effect on your overall estate plan. This might include:
- Purchasing a house
- Getting married
- Having a baby
- Changing jobs
- A significant increase in assets
- A significant decrease in assets
- A death in the family
- Moving to another state or jurisdiction
It is also important to know that both federal and state trust, estate, and tax laws can change, so you should make sure that your estate plan is up-to-date and is consistent with the newest laws.