A “living will” and a Do Not Resuscitate (DNR) are important documents that guide medical decisions if you’re unable to make them yourself. However, they serve different purposes and have key distinctions. Living Will In Virginia and Maryland, a “living will” is part of an advanced medical directive, allowing adults to outline their medical preferencesContinueContinue reading “What Is The Difference Between a Living Will and a DNR?”
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It is National Make-A-Will Month, but a Will is Not Enough
Did you know that August is National Make-A-Will Month? Did you also know that a will is only one component of a proper estate plan? While wills are indeed a cornerstone of estate planning, they represent just one facet of a holistic approach that ensures the effective management and distribution of your assets according toContinueContinue reading “It is National Make-A-Will Month, but a Will is Not Enough”
How Mathews Law Supports You Through Every Stage of Estate Planning and Execution
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Who Are Your Beneficiaries?
Decided where your assets should go after you die is one of the primary purposes of an estate plan. One of the most common questions people have is who should be their beneficiaries. The good news is this decision is entirely up to you. Your assets can go entirely to one person, to multiple people,ContinueContinue reading “Who Are Your Beneficiaries?”
What do my decision-makers do?
Your decision-makers will be responsible for ensuring your plan is followed and your wishes are honored. Here’s a description of the types of decision-makers in an estate plan: Medical Power of Attorney (or Medical Agent): Someone to make medical decisions for you if you cannot make them for yourself. This person only makes medical decisionsContinueContinue reading “What do my decision-makers do?”
Why A Divorced Parent Should Consider a Trust
Say you have minor kids, you pass away, and you leave money to be used for the benefit of your children (who are now under the full care of your ex). One option is, of course, to leave the money to your kids such that your ex manages the funds while the children are minors.ContinueContinue reading “Why A Divorced Parent Should Consider a Trust”
What Does the Estate Planning Process Look Like?
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What is Estate Planning?
Estate planning is the process of reviewing your personal and financial assets and planning for how those assets should be used to care for you and your loved ones should you become incapacitated or die. Estate planning also includes deciding who will make key decisions for you if you are unable to make them forContinueContinue reading “What is Estate Planning?”
What Does An Estate Planning Package Include?
An Estate Plan includes multiple documents that apply to various scenarios. A will describes your wishes for your property. A trust, which can be helpful if you have children or if you wish to avoid probate, is flexible and protective of your loved ones. An advanced health care directive specifies the type of care youContinueContinue reading “What Does An Estate Planning Package Include?”
Hiring an Estate Planning Attorney to Create a Living Will is One of the Most Important Gifts You Can Give Your Loved Ones
When people think of estate planning, if they think of it, they think about wills and maybe trusts or where one’s property will go at one’s death. Making sure that your property is handled according to your wishes in a way that blesses your loved ones is very important. However, arguably even more important isContinueContinue reading “Hiring an Estate Planning Attorney to Create a Living Will is One of the Most Important Gifts You Can Give Your Loved Ones”