Hope for the best and prepare for the worst.
Trusts & estates Experience
Suraj Vyas has had experience with wills involving millions of dollars of assets as well as those involving intricate bequests to step-nephews. In order to competently prepare these important estate administration and planning documents, you need an attorney with discipline and strength to guide you through the process. Suraj was selected to be a part of a team that would help prepare wills, powers of attorney, and advanced medical directives for families at the Kennedy Krieger Institute. After just a short time of volunteering there, Suraj quickly picked up on various intricacies of writing wills and establishing trusts for a variety of clients from a myriad of socioeconomic spheres.
Estate planning provides peace of mind. It’s important to ensure that your loved ones are taken care of even after you may pass. In order to ensure that, Mr. Vyas prefers to work closely with your CPA, financial planner, or anyone else you may speak to about your assets after gaining your authorization and consent. My Vyas believes this synergy is important and that keeping everyone abreast of the situation leads to a more streamlined and successful experience.
You need a will
Estate planning isn’t just for famous celebrities with truckloads of cash. You want to make sure your loved ones can stay in your home and your family doesn’t end up with abandoned properties. When you have a house, you have a deed which tells people who owns the house. You want to make sure you have your name on the deed for a multitude of reasons (including property tax credit reasons because those are only available if your name is on the deed). Baltimore City even has water bill credit. Every homeowner in Maryland has access to state and federal home repair programs (new roof, new windows, etc.), but they will only help if your name is on the deed to the property.
Probate, the process you go through when you do not have a will, is difficult. Even if you have just one child and have no other heirs, there is still a process that is both time consuming and expensive without a will. No, you shouldn’t just write a will or tell someone what you want done or have a non-original document. That can lead to numerous problems in the future.
Power of attorney and advanced medical directive
Estate planning isn’t just drafting a will. It also includes making sure you have an updated and accurate system in place for your power of attorney advanced medical directive documents. Power of attorney is an authorization given to someone to represent you or act on your behalf in some sort of affair. Power of attorney should be carefully handed out because it may give someone access to your checking and savings accounts. An advanced medical (or healthcare) directive is a living will that specifies exactly what type of treatment you want in a variety of circumstances.
Plan for the future. Plan for your family.