The Law Offices of Scott Alan Morrison, P.A.
Frederick
Location
301-694-6262
Hagerstown
Location
301-293-0010

Which type of trust may suit Maryland estates?

The various estate planning tools available to Maryland residents may have individuals wondering what documents could best suit their needs. Some parties may be interested in creating trusts to address certain needs of their estates. While deciding to utilize such a tool is a good first step, individuals may then need to determine which type of trust could be best for their circumstances. 

One type of trust is a revocable living trust, which can protect an estate from probate proceedings as well as allow individuals to make changes to the trust during their lifetimes. This document may also help prevent conflicts from arising over inheritances as well as keep information out of the public record. Another type of trust is a Medicaid asset protection trust. This tool allows assets placed into the trust to avoid probate and also keep them from being used to cover nursing home expenses. 

Other individuals may wish to utilize an inheritance trust. This account helps keep assets in line for inheritance by children and grandchildren and avoid inheritances by in-laws or unknown individuals. Furthermore, this type of trust could protect the assets from the children's divorces or other legal matters. 

These are just a few types of trusts that may be available to interested parties. Because additional details of an estate may warrant a different type of trust -- such as a special needs or charitable remainder trust -- Maryland residents may wish to gain further information on their options. Consulting with experienced estate planning attorneys could help individuals ensure that they have the necessary information to make the best decisions for their estates.

Source: recordonline.com, "Bonnie Kraham: Elder Law Estate Plan documents", Bonnie Kraham, Feb. 9, 2017

No Comments

Leave a comment
Comment Information
  • Best Of The Best The Frederick News Post
  • Bar Association Of Frederick County, Maryland
  • NAELA National Academy Of Elder Law Attorneys, Inc.
  • Maryland State Bar Association Inc.
  • Washington County Bar Association , DC Bar
Form Submit Button

Schedule Your Free Consultation Today

For more information and a free consultation with a Maryland estate planning attorney, call us at 301-694-6262 or fill out the form below. We provide clients with the estate services they need.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

We have offices in Frederick and Hagerstown, Maryland, to serve you.

Evening, weekend and off-site appointments are available upon request. Free parking is available at our Frederick office.

Our office will follow the same closing & delays as Frederick County Public Schools for both offices due to inclement weather.

Frederick Office
141 W Patrick Street
Suite 300
Frederick, MD 21701

Phone: 301-694-6262
Fax: 301-668-8884
Map & Directions
Frederick Law Office Map

Hagerstown Office
Cornerstone Wealth Center
19833 Leitersburg Pike
Suite 1
Hagerstown, MD 21742

Toll Free: 866-220-5185
Phone: 301-293-0010
Map & Directions
Hagerstown Law Office Map

Contact This Office Contact This Office