Planning for the future can feel like navigating dense fog. You work hard to build a life for yourself and your family, and the thought of leaving behind confusion, conflict, or a legal mess is a heavy burden to bear. You want to feel confident that your assets will go to the right people at the right time and that you are caring for your loved ones, not burdening them. The complex language of estate planning and the daunting prospect of probate court can make you feel overwhelmed and unsure where to start. At Apol Law, LLC, we understand these concerns. We help families just like yours find clarity in the process. As your trust lawyer in Severn, we can offer a clear, personalized plan to protect your legacy and give you peace of mind.
A well-structured trust is one of the most powerful tools for managing your assets and directing your legacy. It offers a level of control and privacy that a will alone cannot match. By working with our team, you take command of your estate plan, turning uncertainty into a practical strategy that reflects your values and protects your family’s future.
What Is a Trust and How Does It Work in Maryland?
A trust is a legal arrangement that enables a third party, known as a trustee, to hold and manage assets on behalf of one or more beneficiaries. The person who creates the trust is known as the grantor (or settlor). Essentially, the grantor transfers legal ownership of their assets to the trust, and the trustee is legally obligated to manage those assets in accordance with the instructions in the trust document.
Maryland law governs the creation and administration of trusts. This body of law sets the rules for creating a valid trust, defines the duties and powers of a trustee, and outlines the rights of beneficiaries. A trust can hold a wide variety of assets, including:
- Real estate, including your primary residence and investment properties;
- Bank accounts and investment portfolios;
- Business interests, such as your shares in a corporation, membership units in an LLC, or your stake in a partnership; and
- Valuable personal property, like art or collectibles.
By placing these assets into a trust, you create a separate arrangement to manage them, which is the key to unlocking many of its benefits.
Can a Trust Help My Family Avoid Probate?
Yes. One of the most significant advantages of using a revocable living trust is that it can avoid the probate process. Probate is a court-led procedure that verifies a will, settles debts, and distributes the deceased’s property. In Maryland, this process can be slow, costly, and becomes part of the public record. Anyone can access the details of your estate, including your assets and the individuals who inherit them.
However, assets held in a trust are not considered part of your probate estate. After your passing, the successor trustee you appoint can distribute the assets directly to your beneficiaries according to your instructions, without routine court involvement. This process is private and efficient and can prevent your family from experiencing significant administrative burdens during a difficult time. A trust attorney in Severn can help you determine if avoiding probate is a primary goal for your estate and plan accordingly.
How Does a Trust Lawyer in Severn Help Create a Trust?
Creating a legally sound and practical trust involves more than just filling out a form. A trust attorney acts as your advocate throughout every stage of the process, ensuring your plan is comprehensive and properly implemented.
The process of working with our firm typically involves these steps:
- Understanding your goals. We begin by listening to you. We discuss your family dynamics, your financial picture, and what you hope to accomplish with your estate plan.
- Designing the trust. We draft a custom trust document that precisely reflects your wishes for who should inherit your assets, when they should receive them, and how your trustee should manage them.
- Executing the documents. We oversee the formal signing and notarization of your trust and other estate planning documents to ensure they are legally valid under Maryland law.
- Funding the trust. We assist you in the critical process of transferring your assets into the trust, including preparing new deeds for real estate, updating account ownership, and changing beneficiary designations.
This final step, funding, is essential for the trust to function as intended.
What Happens if a Trust Is Not Properly Funded?
An unfunded or partially funded trust is one of the most common and costly mistakes in estate planning. A trust only controls the assets titled in its name. If you set up a trust without transferring your house, bank accounts, or other property into it, those assets remain in your name.
When you pass away, any assets not included in the trust will not be controlled by its terms. Instead, they will go through the probate court process, which is precisely what you might have wanted to avoid. Our team provides detailed guidance to help you complete the funding process and ensure your trust is structured to meet its goals.
When Should I Consider Updating My Trust?
Creating an estate plan is an ongoing process, not a one-time task. Your life, family, and finances will change over time, and your trust should adapt accordingly.
It is a good idea to review your trust with an attorney every three to five years to ensure it continues to reflect your wishes.
You should consider updating your trust after any significant life event. Some examples include:
- Marriage, divorce, or remarriage;
- The birth or adoption of a child or grandchild;
- The death of a trustee or beneficiary;
- A significant change in your financial situation, such as receiving an inheritance or selling a business;
- Moving to a different state; and
- Changes in relevant state or federal tax laws.
Keeping your trust up to date is essential to ensure it remains an effective tool for protecting your family and your legacy.
Why Choose Apol Law LLC as Your Severn Trust Lawyer?
As the founder of Apol Law, Tasnima Apol provides personalized and compassionate legal guidance to individuals and families throughout Anne Arundel County. A successful estate plan builds upon a foundation of trust and a deep understanding of each client’s unique story. We are committed to serving this community. The Anne Arundel Bar Association recognized this commitment when Tasnima received the 2023 President’s Pro Bono Award. This honor reflects our dedication to providing accessible legal support and our respected standing within the local legal community. We don’t just draft documents; we build relationships and craft lasting plans that provide future generations with security and peace of mind.
Protect Your Future Today
Creating a trust is a profound act of care for your loved ones. It is your opportunity to organize your affairs, provide clear instructions, and make things as simple as possible for your family after you are gone. You do not have to navigate this critical process alone. Contact Apol Law LLC today to discuss how we can help you create a comprehensive estate plan or update an existing one, ensuring that your legacy and your family’s future are protected.
Resources:
Maryland Trust Act, Md. Code, Estates and Trusts § 14.5-101, et. seq., link.