Steven M. Heinl - Attorney

There’s nothing lucky about good estate planning. Happy St. Patrick’s Day! ☘️

What is estate planning and why does it matter?

Estate planning involves outlining how you want your money, property, and possessions handled—and who will make important health care decisions for you—if you pass away or become unable to communicate. At its core, this process is about peace of mind, knowing your family won’t be overwhelmed with added stress and confusion during an already emotional time.

A typical estate plan includes:

À last will and testament directs how your property and assets should be distributed, but does not avoid probate.

A revocable trust allows you to direct how your assets are managed and distributed, both during your lifetime and after you pass away, allowing your assets to avoid probate.

A financial power of attorney authorizes someone you trust make financial and legal decisions on your behalf.

An advance medical directive spells out your medical preferences if you can’t communicate them yourself.

A solid estate plan makes it easier to pass your assets to your heirs and helps prevent costly disputes and court delays later on. Starting early gives you time to explore your options and make thoughtful decisions.

🤔💡One of the most common concepts my clients want to understand is the difference between a will and a revocable trust. I prepare a lot of both (and everyone should have a pour-over will even if they have a revocable trust). In Maryland, a will dictates asset distribution after death but requires probate, which is public. The provisions of a revocable trust direct how assets are to be held/used during the life, incapcity, and after death of its creator. A revocable trust allows for assets titled to the trust to bypass probate, which typically allows for quicker distribution to beneficiaries, if that is the intended outcome.

Steven M. Heinl Steven serves as an at-large member on the Baltimore County Planning Board. He was appointed by the Baltimore County Executive in January of 2019. The Planning Board makes recommendations regarding the county budget and weighs-in on land use and zoning matters in Baltimore County, Maryland.