An estate plan also allows you to pass on intellectual property, including your ideas, values, and beliefs. These less tangible assets often span multiple generations, representing the core values cherished by you and your ancestors. To preserve your family heritage, it is essential to clearly and concisely convey this information in your estate plan.
Estate plans are also designed to protect your loved ones. Our estate attorneys can develop a plan that safeguards against creditors, bad marriages, reckless behaviors, and predators.
Who Benefits from having an Estate Plan?
With few exceptions, everyone needs an estate plan. In our great country, where freedom to choose the life you envision is paramount, having an estate plan allows you to exercise your right of self-determination, regardless of the size of your estate. Planning for the management of your estate during your lifetime is a crucial step.
Several key details to consider in your estate plan include incapacity management, which outlines how your financial and healthcare affairs will be handled if you become unable to make decisions for yourself. Your plan may also address tax avoidance or minimization, asset preservation, beneficiary protection, and control or modification of beneficiary behavior.
Engaging in a systematic estate planning process brings peace of mind, knowing you have done everything possible to ensure your wishes are fulfilled.
On the other hand, neglecting to create an estate plan exposes you and your family to various negative outcomes. These can include family disputes, death taxes, and high settlement costs due to unnecessary court and attorney involvement. Additionally, assets may be distributed to unintended individuals, such as an in-law or a special needs child. The absence of a formal estate plan can lead to ongoing problems that affect multiple generations.
How Can an Estate Attorney Assist You?
We guide clients in Rockville, MD, through the Elville Legacy System (ELS) ©, a comprehensive 10-step interactive educational process for optimal estate planning. For those with more straightforward needs, we also offer a traditional, concise 3-step planning process.
How Can I Begin My Estate Plan?
How Can I Begin My Estate Plan?
Elville and Associates – Estate, Special Needs, and Elder Law Planning Attorneys in Rockville, MD
At Elville and Associates in Rockville, MD, our attorneys guide clients through a comprehensive, multi-step educational process to ensure effective estate, special needs, and elder law planning from inception throughout their lifetime, and at death. We encourage clients to utilize our Planning Team Concept for innovative, customized planning solutions. We aim to educate clients and their families through expert counseling and superior legal-technical knowledge.
Regardless of the planning path our clients choose, Elville and Associates strongly supports the “planning team concept.” This approach ensures that clients’ attorneys, advisors, and CPAs collaborate effectively during the planning process, providing families with peace of mind and confidence. Our attorneys work with leading Certified Financial Planners, financial advisors, CPAs, and other professionals nationwide, striving to be a reliable partner to them.
Our Legal Services Include:
Wills, Trusts, Estate Tax Planning, Powers of Attorney, Living Wills/Advance Medical Directives, Medicaid Asset Protection Trusts, Medicaid Planning and Qualification, Estate Administration, Fiduciary Representation, Nursing Home Selection, Guardianships, Special Needs Planning for children and adults, Social Security Disability Income (SSDI), Supplemental Security Income (SSI), Veterans Benefits, and IRS tax controversy.
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About Rockville, MD
Rockville is a city that serves as the county seat of Montgomery County, Maryland, and is part of the Baltimore–Washington metropolitan area. The 2020 census tabulated Rockville’s population at 67,117, making it the fourth-largest community in Montgomery County.
Rockville, along with neighboring Gaithersburg and Bethesda, is at the core of the Interstate 270 Technology Corridor, which is home to numerous software and biotechnology companies as well as several federal government institutions. The city, one of the major retail hubs in Montgomery County, also has several upscale regional shopping centers. Some of the top employers in Rockville include Montgomery County Public Schools, the U.S. Nuclear Regulatory Commission, Lockheed Martin Information Systems, and Montgomery College.
Although Rockville, MD, has been around for a long time, it wasn’t until the 1950s that it began to boom. Today, it is home to numerous neighborhoods, including West End, where you can find beautiful historic houses, and Rockville Town Square, which is conveniently located just two blocks from the Rockville Metro station.
Outdoor enthusiasts enjoy living in Rockville. This city has a number of parks and recreational facilities, including the 120-acre Croydon Creek Nature Center, which is an urban wildlife sanctuary. At 528 acres, Cabin John Regional Park is one of the biggest parks in Montgomery County; you can find an ice skating rink, dog park, miniature ride-on train, and even a Tai Chi court in this park. Plus, Shirley Povich Field is the home ballpark for Georgetown University‘s baseball team.