The Pinder Plotkin Legal Team Can Help!
- Wills are too expensive, we can’t afford it.
- I’ve been telling my husband we need Wills for years.
- My son is addicted to drugs, I need to make sure he doesn’t inherit my money.
- I’ve re-married and need to protect the children from my first marriage.
- What happens to our children if we both pass away?
Don’t put off a Will any longer. As part of having a community practice, the Pinder Plotkin Legal Team offers affordable basic estate planning documents. We have found that while “estate planning” has become a big money making bonanza for some Towson and downtown firms, most middle class families just need a basic Will to serve their needs.
The Will allows an individual to ensure that his or her property will go to the people he or she wants, in the way he or she wants, and when he or she wants. It is important for everyone, even if an estate is likely to be small, to have an estate plan. The Will can help to reduce tax liabilities, court costs, and attorneys’ fees, and it can also make it easier for families to cope with the administrative and financial issues that arise after the loss of family members. If you have children, your Will should identify who you want to raise your children (custody/guardianship) in your absence.
Is this your second or third marriage? Many of our clients have blended families – his, hers and ours. Multiple marriages create estate planning issues that should be addressed by an attorney.
Do you know the difference between a probate asset and a non-probate asset? Probate assets are generally governed by your Will. Non-probate assets are not controlled by your Will. We often have clients that draft Wills dividing their assets equally among children; however, one child (the “convenience child”) assists with banking and is named on bank accounts as a joint owner. That means the bank account passes directly to the convenience child once you pass away regardless of what your Will states. Generally speaking, any financial account that has a payable on death, beneficiary or joint owner is not a probate assets.
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