Powers of Attorney

Financial and Health Care Powers of Attorney

What is a Power of Attorney?

A power of attorney grants another person the authority to make medical or financial decisions and act on your behalf. We create and use these legal documents for various purposes during the estate planning process, but the two most common are financial power of attorneys and health care power of attorneys.

The estate planning team from Chesapeake Wills and Trusts can help you create individual estate planning tools or develop a comprehensive estate and asset protection strategy on your behalf. Call us today at 410-590-1900 to talk about your need for a power of attorney or to learn more about how our estate planning services can help you.

Understanding the Purpose of a Power of Attorney in Maryland

A power of attorney gives a person, called the agent, the authority to make decisions and manage certain legal tasks on behalf of someone else. This does not limit the person’s ability to make decisions on his or her own; rather, it grants someone else the power to do so if the first person is unable to do so for whatever reason.

We frequently use powers of attorney to help families maintain control of financial matters and medical care if their loved one becomes incapacitated.

It is important to note that we should create powers of attorney early as a part of your estate planning. If we wait until you or a loved one already suffers from an illness or injury that impairs thinking, the process will be much more difficult.

Financial Power of Attorney

A financial power of attorney allows the agent to make a wide range of decisions on behalf of the person who created the document. This type of power of attorney is most frequently used to allow a spouse or other close family member to manage all aspects of a loved one’s finances.

With a financial power of attorney, the agent can:

  • Access checking and savings accounts;
  • Buy or sell stocks and bonds; and
  • Handle real estate deals.

We will help you understand what exactly a power of attorney can and cannot do, and craft the document that grants the powers to allow your affairs to continue in the event of your disability.

How we serve our clients in Anne Arundel County and all across Maryland

Estate Planning

Planning for your own end of life, or a situation where due to disability you are unable to manage your assets, isn’t exactly comfortable. However, putting off planning can lead to more stress for your loved ones and unnecessary uncertainty around what happens to your estate.

Learn More from our Estate Planning lawyers

Trusts

Trusts are an estate planning tool we often use for asset protection, for providing a plan for the management of your assets upon your disability, and to help our clients’ families avoid the Maryland probate process.

Learn more about trusts.

Living Wills

A living will is a legal document that lays out what medical decisions you would like to be made in the event you are unable to communicate your wishes. This could include life-saving measures, pain management, organ donation, and more.

 

Learn More about Living Wills in Maryland.

Probate

Whether your loved one has a clear estate plan, or no plan at all, the probate process adds unneeded stress to your life during a difficult time. Not knowing how the courts will distribute your family member’s assets can feel scary.

We believe everyone deserves the time they need to grieve the loss of a loved one and probate shouldn’t get in the way.

Learn more from our Maryland Probate Lawyers today.

Adult Guardianship

A guardianship is the legal process used by the courts to appoint someone to make legal and financial decisions for people who cannot do it for themselves due to a physical or mental disability. If a guardian is appointed, the person subject to the guardianship loses the ability to make decisions for themselves for as long as they remain disabled.

Learn more about adult guardianship in Maryland.

Asset Protection

Creditors may come after your home if you file for bankruptcy or if they win a lawsuit against you. If you believe this may be a possibility, we can help you put an asset protection plan in place that protects your family home. We can explain to you how an irrevocable asset protection trust works, and what this means for making future decisions about your property.

Learn More about asset protection in Maryland.

Last Will and Testament

A will, sometimes called a last will and testament, is a legal document that tells your family and the state your intentions for your assets after your death. We recommend all our clients draft a will. This is true no matter how small your estate or whether or not you use other estate planning tools to distribute your assets.

 

Learn more about creating a will in Maryland

Medicaid Crisis

A common misconception after a loved one enters a nursing home is it’s too late to protect their assets and they’ll have to spend their life savings before they can apply for Medicaid assistance.

It's not too late! Our Medicaid Crisis Lawyers can help you protect your loved one’s assets and work to make them Medicaid eligible even after they enter a nursing home.

Powers of Attorney

A power of attorney grants another person the authority to make medical or financial decisions and act on your behalf. We create and use these legal documents for various purposes during the estate planning process, but the two most common are financial power of attorneys and health care power of attorneys.

Learn more about powers of attorney in Maryland.

Chesapeake Care Plan

Even the best-laid plans change. Laws are always being updated and changed. People move, get married, get divorced, have kids, and any number of other changes.

We created The Chesapeake Care Plan to keep your plan up-to-date so it will work as intended when you need it most. Better yet, by enrolling in the program, you’ll get a wide range of services at a fraction of the cost of what you would pay for them separately.

Learn more about The Chesapeake Care Plan.

Elder Law

3 in 4 senior adults over the age of 65 will require long-term nursing care at some point in their life. Our Elder Law Lawyers offer estate planning, Medicaid crisis response, and other services to help senior adults plan ahead or respond to a crisis in health requiring nursing care.

Learn more about Elder Law in Maryland.

Medical Power of Attorney

A medical power of attorney allows someone to make medical decisions on your behalf in the event you are unable to do so. This medical power of attorney will permit the person you appoint to speak with your doctors and make important, informed, decisions, such as whether to provide or withhold certain treatment. If you fail to appoint a medical power of attorney, a guardian might need to be appointed by the court to make medical decisions on your behalf.

Contact the Chesapeake Wills and Trusts Team About Your Power of Attorney Needs

At Chesapeake Wills and Trusts, our team offers a wide range of high-quality estate planning services that can meet the needs of your entire family. We can help you create a comprehensive estate and asset protection plan, including the powers of attorney that will allow your loved ones to make financial and health care decisions on your behalf if you cannot.

We can help you understand powers of attorney, and how these documents play a role in an overall strategy to give you peace of mind about your future and your family’s financial health. Call our Glen Burnie office today at 410-590-1900 or contact us online to discuss your needs with a member of our estate planning team.

Let Our Estate Planning Attorneys Help You Decide If a Trust Is Right for You

The laws surrounding trusts and asset protection are complex, and many attorneys who do not work with them regularly do not understand them fully. The best way to know if a trust might be a good option for you and your family is to sit down with an estate planning lawyer who can listen to your needs and explain your options for creating a comprehensive plan to safeguard your estate and your family’s financial future.

In general, trusts are very flexible making them a good tool for almost every family. However, understanding which type of trust you need, and the specific details of its setup, is paramount in ensuring it serves its purpose. Each type of trust has advantages and disadvantages, and we want to ensure you understand them fully before we set one up for you.

We offer:

  • Case evaluations and consultations that allow us to get a full picture of your family’s finances, future goals, and estate planning needs
  • Help with specific estate planning needs, such as special needs trusts
  • Advice on Medicaid and asset protection
  • Help setting up a trust to protect your life savings
  • Comprehensive estate planning tools and high-quality legal services

 

Contact our Maryland Estate Planning, Wills, and Trusts Lawyers Today

At Chesapeake Wills and Trusts, our estate planning team is standing by to help you protect your family’s home and life savings. Like you, we want to ensure everything you worked for goes to the heirs you selected, not to probate fees, nursing home placement, and other various expenses. One way we can make this happen — and accomplish a number of other feats — is by placing your assets in a trust.

We know your family’s situation is unique, and there is no one-size-fits-all answer to estate planning. However, there is likely a trust that meets your needs. We can help you understand your options and create your trust.

Call us at our Glen Burnie office today at 410-590-1900 or use our online contact form to schedule an appointment with a member of our team.

Chesapeake Wills and Trusts Attorneys

The Chesapeake Promise

When working with our team, you can expect us to:

E

Treat you like our own family

E

Always explain the next steps

E

Keep you in the loop

E

Work for your best interests

Schedule a Call

Complete the form below and someone from our team will be in touch shortly or call now at 410-590-1900.