Skilled Wills And Trusts Attorney In Prince George’s County

Creating wills and trusts is an essential part of estate planning. While you might have an idea of how these tools work, you don’t know exactly what you need for your specific estate planning goals.

That’s where Alston Gray & Associates, LLC, comes in. Since 2004, attorney Tiffany Alston has helped individuals and families throughout Prince George’s County build smart and comprehensive estate plans that include solid wills and trusts. She will help you understand how these estate planning documents work and how to best utilize them to serve your unique needs in the future.

What Is A Will?

You have probably heard of a will before. You might even have one already drafted, even if you don’t have a full estate plan. A will – also known as a last will and testament – is a legal document that outlines how you want your property and assets to be distributed after your death. A will can also offer guidelines for how you want your funeral carried out and appoint a guardian for minor children or pets, if you have any.

Wills are a crucial part of estate planning. Without one in place, your estate may get stuck in “intestate,” where the probate courts will have to determine how to pass down your assets, which can go against your wishes. By creating a will, you have control over how you want your property handled.

Everyone needs a will – regardless of their age, wealth or status. To create a will in Maryland, you need:

• To be at least 18 years of age
• To draft the will in writing
• To sign the will
• To have at least two witnesses who are also at least 18 years old

Ms. Alston can help you navigate this process to ensure your will is valid in the state of Maryland.

What Is A Trust?

Trusts are a popular estate planning tool that helps you protect your assets. Essentially, it is a legal document that establishes an arrangement to hold onto someone’s assets that will be distributed to their beneficiaries. There are four main elements to a trust:

• The trust: The legal document that establishes this arrangement.
• The grantor: The person who creates the trust and determines what assets to put into it.
• The trustee: A person or organization appointed by the grantor to oversee and manage the trust. In some cases, the grantor can also be the trustee.
• The beneficiary: The person (or persons) who receives the assets from the trust.

As you go about creating a trust, you – the grantor – will have control over how you want the assets in the trust to be used and distributed. There are two common types of trusts:

• Revocable living trust: This type of trust allows the grantor to make any changes or adjustments to the terms of the trust during their lifetime.
• Irrevocable living trust: In this type of trust, any assets added to it cannot be changed or removed.

There are also special needs trusts, which can help provide security for loved ones who have special needs. Each of these trusts has its own pros and cons. They can help you avoid probate and provide financial privacy. Determining what is best for your needs may require the assistance of an experienced estate planning lawyer. Ms. Alston will review your specific goals for the future and come up with an estate planning strategy that will protect your assets however you want.

Contact Alston Gray & Associates, LLC, Today To Get Started

If you’re starting your estate planning journey, you’ll need to consider creating a will and a trust. At Alston Gray & Associates, LLC, Ms. Alston will help you every step of the way, so you get the peace of mind you need for the future.

Call today at 240-829-1721 or send an email through the online form.