MARYLAND & WASHINGTON, DC ESTATE PLANNING ATTORNEY
In this age of growth and relative prosperity, families and individuals are encouraged to actively explore and engage in effective estate planning practices. Rapidly increasing individual and household income, expanding investment portfolios and growing personal assets, all but demand that the prudent person engage the services of a respected estate planning attorney to employ the tools and resources provide by the law, such as wills and trusts, to protect their valued possessions from excessive taxation and creditor debt.
Today, relatively average individuals can considerably improved their net worth far beyond what could reasonably be expected through employment by means of real estate ventures, sensible stock market dealings and other investment options. Many people, including those referenced above, would be shocked to discover that upon their death the federal government may seek to claim nearly half of the value of their estates.
Sadly, the exemption which has provided significantly increased estate tax savings over the pass few years - by allowing substantial assets to pass free of federal taxation - is slated to decrease in the coming years, making estate tax savings objectives more difficult to achieve in some instances.
Moreover, individuals who die without the benefit of a valid will describing the nature and extent of their possessions and their specific wishes and directives regarding the distribution of their property, effectively transfer that decision making power to the government. Ironically, by failing to prepare a will, these individuals convert one of our most fundamental freedoms: the personal decisions to transfer our own property in any manner that we see fit to whomever we wish, into a statutory dictate.
Don't allow someone else to make these important decisions for you, contact the firm today and speak to a Montgomery County estate planning attorney!
ESTATES & TRUST
The Gibbs Law Firm, LLC provides comprehensive and customized estate planning services to individuals and families whose assets constitute small to mid-size estates. These services include, but are not limited to, the preparation of wills and trusts designed to help ensure that your assets are distributed to your loved ones according to your wishes, outside the reach of excessive governmental taxation and certain creditor claims.
Our estate planning services include but are not limited to following:
Durable Power of Attorney
Power of Attorney for Health Care
Irrevocable Life Insurance Trust (ILIT)
Buy- Sell Agreements
Call an experienced estate planning lawyer to discuss your plans for the future at 240.403.4071.