Frequently Asked Questions

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  • What's the difference between a will and a living trust?

    A will goes through probate and takes effect after death, while a living trust avoids probate and can manage assets during your lifetime if you become incapacitated. Living trusts also provide greater privacy since they don't become public court records. At AMD Law, we help Upper Marlboro families choose the right estate planning tools for their situation.

  • How does a revocable living trust avoid probate?

    Assets titled in the trust name transfer directly to beneficiaries without court involvement because the trust continues to exist after your death. This saves time and costs while keeping your estate private. The trustee can distribute assets according to your instructions immediately rather than waiting for probate approval.

  • When should I update my estate plan?

    Update your estate plan after major life events like marriage, divorce, births, deaths, significant asset changes, or moves to another state. Maryland law and tax regulations also change periodically, so reviewing your plan every three to five years ensures it remains effective and compliant.

  • What's a pour-over will and when is it needed?

    A pour-over will works with a living trust by transferring any assets not already in the trust into it after your death. This provides a safety net for assets you forgot to retitle or acquired shortly before passing. At AMD Law, we include pour-over wills in comprehensive trust-based estate plans.

  • Do I need both financial and healthcare powers of attorney?

    Yes, because they serve different purposes during incapacity. A financial power of attorney lets someone manage your property and bills, while a healthcare power of attorney authorizes medical decisions. Maryland law requires separate documents for these distinct roles to protect your interests comprehensively.

  • What does asset protection planning actually protect against?

    Strategic asset protection shields your wealth from creditors, lawsuits, business liabilities, and other financial threats through legal structures like trusts and proper titling. These techniques must be implemented before problems arise to be effective. At AMD Law, we design protection strategies tailored to your specific risk exposure.

  • How does Medicaid planning help with long-term care costs?

    Medicaid planning structures your assets to meet eligibility requirements while preserving wealth for your spouse or heirs. Maryland has specific look-back periods and asset limits that require advance planning. Proper planning can protect your home and other resources from nursing home costs.

  • What's included in an advanced healthcare directive?

    An advanced healthcare directive includes a living will stating your end-of-life care preferences, a medical power of attorney designating your healthcare agent, and HIPAA authorization allowing information sharing. These documents ensure your medical wishes are followed when you cannot communicate them yourself.

  • Can a trust help manage my assets if I become incapacitated?

    Yes, a revocable living trust allows your successor trustee to manage trust assets immediately if you become unable to do so. This avoids the need for court-appointed guardianship proceedings, which can be costly and time-consuming. Your trustee follows your instructions to pay bills and handle finances seamlessly.

  • What's the biggest mistake people make with estate planning?

    The biggest mistake is creating documents but never funding the trust by retitling assets into it. An unfunded trust cannot avoid probate or provide intended benefits. At AMD Law, we guide Upper Marlboro clients through the complete funding process to ensure their estate plan actually works.

  • How does business succession planning protect my company?

    Business succession planning establishes who will own and run your company if you retire, become disabled, or pass away. It includes buy-sell agreements, entity structuring, and transition timelines that preserve business value and prevent disputes. Proper planning ensures smooth leadership transitions without disrupting operations.

  • What does a trustee actually do during trust administration?

    A trustee manages trust assets, communicates with beneficiaries, handles tax compliance, and makes distributions according to trust terms. They have fiduciary duties to act in beneficiaries' best interests while following the trust document precisely. At AMD Law, we provide ongoing guidance to trustees navigating these complex responsibilities.

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