The estate planning lawyers at The Elder & Disability Law Center provide comprehensive estate planning advice and legal services to individuals and families in the Washington, D.C., area, Maryland, and Virginia. We are committed to creating estate plans that address our clients' needs and concerns.
Please contact our Washington, D.C., estate planning attorneys for a consultation regarding your estate planning options.
Early Preparation Is the Key to Avoiding Additional Family Stress
Many families consult with a lawyer only in a time of crisis, such as when a parent has a stroke or is in an accident. The family often expresses confusion and frustration at the situation because they are now forced to deal with their loved one's medical and financial needs.
A comprehensive estate and asset protection plan prepared in advance can avoid that confusion and frustration for you and your family members. Additionally, early preparation of an estate plan can minimize or eliminate estate taxes. It can also save on court costs and attorney's fees associated with guardianships and conservatorships and probate.
Our Maryland, Virginia, and Washington, D.C., estate planning attorneys can develop and implement custom-tailored plans for your family, no matter the level of wealth. This allows you to simply put the plan into action and focus your attention on the medical needs of your loved one.
Types of Documents You May Need
The following is a sample of documents we prepare during estate planning:
- Advance medical directive: Through the advance medical directive, you make known your choices about treatments. You also name someone as your health care agent, authorized to make health care decisions for you when you cannot make them for yourself. Your advance medical directive also includes a "living will" specifying what types of life-prolonging procedures you wish if you suffer from a terminal condition. Your living will may be registered with the U.S. Living Will Registry as well as with your attorney.
- Durable power of attorney: A durable power of attorney designates a person of your choosing to be allowed to manage your financial affairs should you become incapacitated.
- Will: An estate planning lawyer is the best source of personalized, legal, and up-to-date information concerning how to craft even a simple will. At The Elder & Disability Law Center, we make certain your will accurately reflects your wishes regarding asset protection and final distribution of your estate upon your death.
- Trusts : A trust can help you preserve assets while avoiding estate taxes and the need for probate. Trusts can also be used as financial planning tools that help you or a loved one qualify for government benefits. The types of trusts include:
- Revocable trust
- Credit shelter trust
- Marital trust
- Irrevocable life insurance trust
- Supplemental needs trust
- Family limited partnership : A family limited partnership (FLP) is an effective estate planning tool that can be used to maintain control over your assets during your lifetime, limit the impact of estate taxes on those assets upon your death, and reduce the ability of creditors to reach the assets.
Contact an Experienced Elder Law and Estate Planning Lawyer
Do you want to learn more about the complex areas of estate planning, the financing of long-term care, Medicaid eligibility, or probate? Do you want to learn how to set up trusts? Do you understand how tax laws pertain to you and your family? Schedule a consultation with an experienced life-care and estate planning attorney. Contact The Elder & Disability Law Center in Washington, D.C.
Our staff is prepared to make house calls if you or a loved one is too ill to make it to the office.