Thomas & Libowitz, P.A.
25 South Charles Street, Suite 2015
Baltimore, MD 21201
Steven A. Thomas
The proven Baltimore estate lawyers at the Thomas & Libowitz, P.A. law firm are experienced in the effective resolution of estate lawsuits and claims as related to family estates and trusts Baltimore estate attorneys are knowledgeable in all areas of general estate law, including but not limited to instances of estate bankruptcy, living trusts and retirement planning in Baltimore Maryland.
The Baltimore trusts and estate attorneys have experience representing clients in trusts and estate matters, including:
Trusts are estate-planning tools that can replace or supplement wills; as well as help manage property during life. A trust manages the distribution of a person’s property by transferring its benefits and obligations to different people. There are many reasons to create a trust, making this property distribution technique a popular choice for many people when creating an estate plan.
The basics of trust creation are fairly simple. To create a trust, the property owner (called the “trustor,” “grantor,” or “settlor”) transfers legal ownership to a person or institution (called the “trustee”) to manage that property for the benefit of another person (called the “beneficiary”). The trustee often receives compensation for his or her management role. Trusts create a “fiduciary” relationship running from the trustee to the beneficiary, meaning that the trustee must act solely in the best interests of the beneficiary when dealing with the trust property. If a trustee does not live up to this duty, then the trustee is legally accountable to the beneficiary for any damage to his or her interests. The grantor may act as the trustee himself or herself, and retain ownership instead of transferring the property, but he or she still must act in a fiduciary capacity. A grantor may also name him or herself as one of the beneficiaries of the trust. In any trust arrangement, however, the trust cannot become effective until the grantor transfers the property to the trustee.
A Baltimore estate lawyer is professional and knowledgeable in understanding the details, facts, complications, and circumstances that arise in a Baltimore trusts and estates case.
The Baltimore estate attorneys of Thomas & Libowitz, P.A. law firm are distinguished by a history of successful estate claim recoveries and resolutions. For experienced representation in an estate dispute, contractual issue, or for assistance with estate planning, contact a Baltimore estate lawyer with the Thomas & Libowitz, P.A. law firm in Maryland.