Our Top Rated Trust Law Practice In Cecil County, Maryland, Focuses on protecting what's important!
A trust is a legal document that controls the management and transfer of your assets. With a trust, one or more persons (the trustee/trustees) are appointed to hold property, usually real estate or investments, for the benefit of another or several other people (the beneficiary/beneficiaries). Trusts can accomplish many things: they can preserve assets, provide for the needs of a disabled adult child, reduce taxes and avoid the need for probate.
Possible trusts include:
Life insurance trusts
Charitable remainder trusts
Special Needs Trusts Cecil & Harford County Maryland
Special Needs Trusts (also called supplemental needs trusts), can provide for the supplemental needs of a disabled adult child, while preserving the child's eligibility for Supplemental Security Income and Medicaid benefits.
The rules regarding these trusts are complex, and a mis-step can result in the loss of SSI and Medicaid benefits. Once lost, these benefits are very difficult to regain. Our firm can review your situation and create the specific special needs trust to provide for your child's needs, enable the child to retain benefits and comply with the law.
Pet Trusts In Maryland
Your pets are a part of your life and family. Maryland enacted its original "pet trust" law in 2009. Under the law, a trust may be created to provide for the care of an animal alive during the lifetime of the settlor. The trust terminates when the last animal subject to the trust dies. The property of the trust may only be used for the intended purpose of the trust (e.g., taking care of the animal). Contact our office today to Protect What's Important!
Avoiding Probate in Maryland
A trust can eliminate the need for probate. Probate is the legal process by which a deceased person's property, known as the "estate," is passed to relatives, acquaintances, or charitable organizations. This legal process can take up to nine months or longer for assets to reach the intended beneficiaries after a person's death. With a trust, property is immediately and directly transferred to your beneficiaries — reducing time, cost and attorney's fees.
Over a Decade of Legal Experience
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The Law Office of Chelsea M. Sadler, LLC. has vast experience in handling cases pertaining to Last Will and Testament, Trusts, Preparation, and Business Succession Plans. We excel in personally guiding you through these complex legal processes, explaining each step. Whether you need legal advice or action, We are here to represent you and your unique needs. Schedule a consultation today to see how we can Protect What's Important!