Schedule a Free Consultation
Schedule a Free Consultation
When your family’s future and your hard-earned assets are at stake, having a seasoned Glen Burnie trusts lawyer on your side can provide peace of mind and help you take control over how your legacy is managed. At Liberty Legacy Law Group, we assist individuals and families in crafting trusts that are tailored to their unique goals, in compliance with Maryland’s trust laws, and designed to protect wealth for generations to come.
When you are planning to create a trust, one of the most critical decisions you can make is to work with a trusts lawyer. Trusts are extremely effective estate planning tools, but they can also be complex. If a trust is not created properly, it may not work as you intended or may even be vulnerable to legal challenges.
About 19% of Americans think they will die leaving nothing of value behind, and more than half believe they will leave $50,000 or less in total value for their beneficiaries. 55% of Americans have no estate planning documents at all.
A skilled Glen Burnie trusts attorney can guide you in selecting the right type of trust, drafting clear terms, and making sure your documents comply with Maryland’s trust laws. This guidance will not only protect your interests but can also help you avoid expensive and time-consuming litigation down the road.
At Liberty Legacy Law Group, we’re not just planning for the future we’re honoring the lives, stories, and values that matter most.
call for a consultation 443-888-5850
Maryland’s trust laws govern the creation, administration, and termination of trusts within the state. They establish the legal requirements for forming a trust, the duties and obligations of trustees, and the rights of beneficiaries. The laws also dictate how trust assets are managed and provide legal remedies in the event of disputes or breaches of fiduciary duty.
In simple terms, a trust is a legal arrangement in which one person, known as the trustee, manages property or assets for the benefit of another person, called the beneficiary. Maryland recognizes several kinds of trusts, each with its own characteristics and purposes. Some of the most common types of trusts include:
Perhaps the most common estate planning tool is a revocable living trust. This trust lets you transfer your assets to the trust during your lifetime and allows you to retain control of those assets. It also allows you to change or terminate the trust whenever you choose. Creating a living trust enables your estate to circumvent the extensive probate process while keeping your estate plan confidential since trust documents remain private.
By contrast, it is difficult to change or terminate an irrevocable trust once it’s created. This kind of trust is often used for tax planning or asset protection purposes, as transferring property into an irrevocable trust can remove it from your taxable estate. While it requires you to give up control over the assets, the legal and financial benefits can be significant, especially for larger estates.
Testamentary trusts are formed by a will and don’t go into effect until your death. They can be useful if you want to specify when and how distributions from the trust are made to your beneficiaries. For example, you may wish to create a testamentary trust for young children, so that they are provided for, but the principal remains protected until they reach a certain age.
You can also set up a spendthrift trust to help ensure that your beneficiaries don’t squander their inheritance, or that it isn’t claimed by creditors or as a result of a legal claim. This type of trust can be particularly useful if you have children who might be financially irresponsible or have potential legal judgments against them.
Additional trusts include special needs trusts that are used to provide for beneficiaries who may be eligible for government assistance, without disqualifying them from receiving those benefits. Also, charitable trusts allow you to leave assets to charity.
Trust, loyalty, and over 30 years of combined legal experience are the foundations of our practice. We are Kaitlyn Tauber and Melissa Paddy, childhood friends and now estate planning attorneys committed to serving clients from our Ellicott City office. Our experience with the local courts, such as the Anne Arundel County Circuit Court, positions us to work efficiently and effectively on trust matters.
A good trusts lawyer focuses specifically on creating, managing, and administering trusts in accordance with the legal requirements of your state. In Maryland, that means a trusts lawyer in Glen Burnie who is familiar with the state’s trust laws and can advise you on all the tax consequences and probate avoidance strategies that come with having a trust.
Technically, you do not have to have a lawyer for a trust, but doing so without one can be risky. Trust laws can be complicated. If there is a mistake in the drafting or funding of the trust, the trust can become invalid or ineffective. A skilled trusts attorney ensures your trust document meets Maryland legal requirements to prevent costly disputes and fulfill your objectives for asset protection and legacy planning.
Whether a will or a trust is better in Maryland depends on your specific goals. The will is easier and less expensive to create, but it has to go through probate. The trust can bypass probate, preserve privacy, and provide more control over your assets. The process of creating a trust involves more complexity. Many Maryland families have both as part of their estate plan.
One disadvantage of a will when compared to a trust is that a will must be probated. The probate process is public, can take time, and is subject to disputes. A trust offers a confidential way to transfer assets more quickly than other methods. It avoids the time and expense of going through probate in Maryland’s court system.
A trust may be a good option for you depending on your circumstances. Hire a trusts lawyer who can help you in this process. Liberty Legacy Law Group can assist if you have a trust dispute. Contact us today for more information.
At Liberty Legacy Law Group, we’re not just planning for the future—we’re
honoring the lives, stories, and values that matter most.