We have all heard of wills, and trusts or Revocable Living Trusts have been growing in popularity, but what exactly are the differences between a will and a trust? How do you know which you need and how do you get the right one, designed to specifically meet all of your and your family’s needs? The state of Maryland has a default Intestate Distribution Will, but it is woefully inadequate. Tim Barkley has over 30 years of experience practicing law, and has all the expertise that you need to be able to guide you through creating a plan that meets all of your family’s needs!
Whether you need to care for a surviving spouse, make sure your children’s inheritance is not spent frivolously, avoid estate tax, or care for a disabled or special-needs spouse or child, a trust can serve you well. However, a will is the only vehicle to name a guardian for your minor children. Additionally, if you and your spouse have blended your families, you need to take specific steps to minimize conflict at your death.
For more information visit the Estate Planning Page.