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family business 1 300x190 - Estate Planning

ZM Law Group understands that the only constant in life is change. We help our clients plan for the many exciting, unexpected, and inevitable transitions still to come. We take the time to learn about our clients, their unique family dynamics, their goals, and their concerns. Our approach to estate planning is customized and tailor made to each client.

We take the necessary time to understand each client’s unique long-term goals and do not believe in a “cookie-cutter” approach when offering solutions to those needs. If you’re looking for an estate planning lawyer in Owings Mills  or any other location in Maryland then look no further than ZM Law Group.

Family Estate Planning

What We Do:

Every client is unique and thereby their estate plan is designed to reflect their specific goals, values and traditions. We work in partnership with our clients’ other professional advisers to develop a coordinated and consistent estate plan. By offering our clients a customized yet flexible estate plan, we are able to provide ongoing support and reevaluation depending on your changing circumstances as they arise. Our goal is to establish and maintain long-term relationships with our clients built on integrity, compassion and exceptional service.

Many people have a misconception that estate planning is only for people who are particularly wealthy, want to avoid estate taxes, or for people who are ill and facing imminent death. This is an unfortunate misconception that serves as a barrier to essential planning for the inevitable.

Don’t Wait to Plan Your Estate

Estate planning is essential for every individual, family, and business no matter what their financial or personal circumstances are today. Change of circumstances is inevitable, and being prepared for change is crucial for your family’s security, stability and emotional well-being. Developing an estate plan is not planning for your death but rather a plan for the loved ones you leave behind in the event of your illness, incapacitation or death.

Frequently Asked Questions

How can I minimize estate taxes for my heirs?

Minimizing estate taxes involves strategic planning to preserve wealth for heirs. Utilizing tools such as trusts, gifting, and establishing a comprehensive estate plan can help manage tax implications. Creating trusts like Irrevocable Life Insurance Trusts (ILITs) or Qualified Personal Residence Trusts (QPRTs) allows assets to pass outside the taxable estate. Strategic gifting during one’s lifetime can also reduce the taxable estate. Collaborating with a knowledgeable estate planning attorney is crucial for navigating complex tax laws, ensuring assets are protected, and maximizing the inheritance for heirs.

What is the role of a living will and healthcare power of attorney in my estate plan?

A living will and healthcare power of attorney are vital components of an estate plan, addressing medical decisions. A living will outlines one’s preferences for end-of-life medical care, guiding loved ones and medical professionals. A healthcare power of attorney designates a trusted individual to make medical decisions if one becomes incapacitated. Together, they offer a comprehensive approach to healthcare decision-making, ensuring personal wishes are honored and providing clarity to family members during challenging times.

How can I protect my assets and provide for my heirs’ financial well-being?

Asset protection and securing heirs’ financial well-being involve careful planning. Establishing trusts, like revocable living trusts or irrevocable trusts, shields assets from creditors and legal challenges. Consideration of life insurance policies, with proceeds directed to heirs, provides financial support. Regularly updating beneficiaries on financial accounts ensures assets pass smoothly. Consulting with an experienced estate planning attorney allows for tailored strategies, safeguarding assets and securing a stable financial future for heirs.

What happens if I die without a will (intestate)?

Dying without a will (intestate) means state laws dictate asset distribution. The probate court follows intestacy laws, typically prioritizing spouses, children, and other close relatives. The process can be time-consuming, costly, and may result in assets going to unintended beneficiaries. Creating a will allows for personalized control over asset distribution, ensuring specific wishes are honored. Consulting with an estate planning attorney helps navigate complexities, preventing potential conflicts and ensuring assets align with one’s intentions.

View Areas Served

Baltimore County:

Arbutus (21227), Catonsville (21228, 21250), Cockeysville (21030, 21031, 21065), Dundalk (21222), Edgemere (21219), Essex (21221), Garrison (21055), Lansdowne (21227), Lochearn (21207), Lutherville (21093), Middle River (21220), Milford Mill (21244), Overlea (21236), Owings Mills (21117), Parkville (21234), Park Heights (21215), Pikesville (21208), Randallstown (21133), Reisterstown (21136), Rosedale (21237), Timonium (21093), Towson (21204), White Marsh (21162), Woodlawn (21207), and more.

Baltimore City

Howard County:

Clarksville (21029), Columbia (21044), Cooksville (21723), Dorsey (21075), Elkridge (21075), Ellicott City (21043), Fulton (20759), Glenelg (21737), Glenwood (21738), Granite (21163), Hanover (21076), Highland (20777), Jessup (20794), Lisbon (21765), Marriottsville (21104), North Laurel (20723), West Friendship (21794), Woodbine (21797), Woodstock (21163), and more.

Carroll County:

Eldersburg (21784), Finksburg (21048), Hampstead (21074), Manchester (21102), Marriottsville (21104), Taneytown (21787), Union Bridge (21791), Westminster (21157, 21158), Mount Airy (21771), New Windsor (21776), Sykesville (21784), Woodbine (21797), Taneytown (21787), and more.

Harford County:

Aberdeen (21001), Abingdon (21009), Bel Air (21014, 21015), Darlington (21034), Edgewood (21040), Forest Hill (21050), Jarrettsville (21084), Joppa (21085), Pylesville (21132), Whiteford (21160), White Hall (21161)

Anne Arundel County:

Annapolis (21401, 21403, 21409), Arnold (21012), Crofton (21114), Crownsville (21032), Gambrills (21054), Glen Burnie (21060, 21061), Hanover (21076), Jessup (20794), Pasadena (21122), Severn (21144), Severna Park (21146).

And the rest of Maryland.

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