Trusts Attorney

The difference lies in control and flexibility. A revocable trust allows you to retain control of your assets during your lifetime. You can amend it, add or remove assets, or even revoke the entire trust at any time. It’s primarily used to avoid probate, ensure privacy, and simplify administration.

An irrevocable trust, once signed and funded, cannot be easily altered. You relinquish ownership and control of the assets placed into the trust. Why would someone choose that? Because it may offer benefits like asset protection, Medicaid planning, or estate tax reduction. For high-net-worth clients in places like Bethesda or Montgomery County, irrevocable trusts can play a key role in minimizing taxes and shielding wealth.

Choosing the right type of trust depends on your goals, risk tolerance, and financial situation. We’ll help you weigh the pros and cons in plain English.

Yes—and this is a critical point many people overlook. A revocable living trust only controls the assets you actually transfer into it. If you forget to move an account or acquire new property late in life, those assets won’t automatically follow the trust’s instructions.

That’s where a pour-over will comes in. It acts as a legal safety net, directing any assets not in your trust to be transferred (“poured over”) into it at death. Without this, those assets may be subject to Maryland’s default inheritance rules, which can produce unintended results.

Every trust-based plan should include a properly drafted will. We ensure both work together seamlessly.

This is one of the most common questions we hear—especially from clients concerned about Medicaid eligibility. In Maryland, qualifying for Medicaid often requires you to spend down significant assets before receiving benefits.

An irrevocable Medicaid asset protection trust (MAPT) can be used to transfer certain assets out of your name and begin a five-year lookback period. If structured properly and in advance, this can shield your home, savings, or other property from being consumed by long-term care costs.

Timing is crucial. If you wait too long or make a mistake in the transfer, you could jeopardize eligibility. We help families structure these plans carefully, considering all medical, legal, and financial angles.

Absolutely. One of the main advantages of a trust is the ability to customize when and how your beneficiaries receive what you leave behind. You might not want an 18-year-old to receive a six-figure inheritance all at once. Or you might want to ensure a second spouse can remain in your home, while preserving the balance for your children.

Trusts allow you to:

• Distribute funds in stages (e.g., at ages 25, 30, 35)
• Delay access until a beneficiary reaches a certain level of maturity
• Provide lifetime income to a surviving spouse while preserving the principal for others
• Restrict use of funds for specific purposes like education or housing

This kind of structured planning is often essential for blended families, young beneficiaries, or individuals with special financial needs.

They don’t have to be. A well-drafted trust is designed to be simple, effective, and easy to administer—especially when prepared with your specific goals in mind.

You can name yourself as the initial trustee, meaning you maintain complete control during your lifetime. If you become incapacitated or pass away, a successor trustee (whom you choose) steps in. This avoids court involvement and ensures continuity.

As for cost, while a trust may involve more upfront planning than a simple will, it can save your family time, stress, and money in the long run by avoiding probate and preventing legal disputes. We explain all costs clearly in advance—no surprises.