How to Create Your Own Estate Planning Rule Book
We encourage all our clients to create their own rule book, putting a comprehensive estate plan in place that lets them set the rules today for what will happen in the future. From making financial and health care decisions to helping your family avoid the Maryland probate process, your rule book can address many issues and give you full control of your future.
At Chesapeake Wills and Trusts, our estate planning team can walk you through the process of creating your own rule book. We will help you make decisions now and draft the required legal documents to ensure they take effect when necessary. To learn more about taking control of your future and safeguarding your family’s financial future, call us today at 410-590-1900.
Understanding the Advantages of Having a Rule Book in Place
We help our clients create rule books to help their family avoid the hassle and stress of going through numerous government processes after they pass on or are unable to make their own decisions. The government already has rules in place to deal with guardianship, probate, and other processes, but these rules are not set up to make it easy on your loved ones. The government’s rules could require contested litigation and can be adversarial.
There are ways to set your own rules, allowing your family members to sidestep these government processes. This is the goal of creating your own rule book. Having a rule book you created not only means you have full control of your future, but it also means your loved ones can get you the healthcare you need, manage your finances, and have access to your assets faster and with little headache.
Take Control of Tomorrow’s Decisions Today
When we help a client create his or her rule book as a part of the Maryland estate planning process, we give a person who is healthy and clear-thinking the chance to make decisions they may not be able to make later. By taking control of your future and creating this type of plan while you are competent enough to do so, you can face even the most uncertain future with peace of mind.
When you create your own rule book, you are making decisions and putting contingencies in place that address your:
- Financial accounts
- Estate and assets
- Care of any dependents
- Quality of life
- Long-term care needs
- Other business and personal matters
Let Us Walk You Through Creating Your Rule Book
We know many estate planning topics are difficult to discuss and it may seem easier to avoid thinking about a time when you cannot make important decisions on your own anymore. However, broaching these topics now will make it easier on your loved ones later.
Our team can help you understand the components of your rule book, explaining each step and walking you through making each decision based on your own needs and future goals. We will approach each topic in a compassionate and supportive way, creating your rule book one rule at a time.
This process will include:
- Deciding who you will grant decision making power for your finances
- Deciding who will make your healthcare decisions
- Creating powers of attorney and advance directives
- Detailing your wishes in a living will
- Creating a trust that protects your assets and helps your family avoid the probate process
- Taking other steps to secure your family’s financial future
- Taking other steps to make life easier on your loved ones if you can no longer make decisions or you pass away
The only way to ensure your rule book holds up in court if anyone challenges any part of it is to work closely with a knowledgeable estate planning attorney to create it. We will walk with you through the process, and help your family take actionable steps to follow the rules you defined when the time comes.
Contact Chesapeake Wills and Trusts About Your Estate Planning Needs
At Chesapeake Wills and Trusts, our estate planning team can help you develop a strategy that meets your family’s needs and helps you protect your home and life savings. We offer high-quality legal services and can handle all aspects of estate planning.
When it comes to creating your estate plan, we will explain your options and the decisions you need to make in a clear and easy-to-understand way. We will walk you through the process, and ensure the legal documents are in place to back up the rules you set.
To learn more or to get started today, call our office at 410-590-1900 or use our online contact to reach out to member of our team.