We plan carefully for life’s most important milestones like college, weddings and retirement, yet one of the most important plans is often overlooked: how we protect our families and values after we’re gone. Make-a-Will Month is a great reminder to take control of your legacy as a final act of care for people and causes you care about the most. Now is the perfect time to get started with your plan.
At the Community Foundation of Anne Arundel County, we often get questions about estate planning. Here are some of the most frequently asked questions:
Who should have a will, trust or other estate plan?
The short answer is everyone. A recent Trust & Will study found that 73% of U.S. adults believe estate planning is personally important, signaling a growing awareness that it’s not just for the elderly or wealthy but a smart, empowering way to take control of their future. Having a plan in place ensures that your loved ones and any assets you have, such as a bank account, your home, vehicles, stocks and insurance policies, are safeguarded. If you don’t have a will or estate plan, Maryland will determine who inherits your assets and how your property is distributed. Decisions about the care of minor children and pets will be made by a court, which could be devastating for those you leave behind. Even those without a partner or children should plan for the distribution of their possessions after their passing. Should your circumstances change in the future, you’ll already have a plan in place to amend. If you do not intend to include heirs, consider leaving part or all of your assets to a nonprofit organization of your choice.
I have a will; do I need more?
Having a will is a great start, but there is more you should do. An estate plan often includes a will and a power of attorney and advance directive, which designates the people you trust to manage your assets and care if you become incapacitated. You might also consider creating a trust, which is a legal entity created to hold, protect, control and distribute your assets. A trust can help you avoid probate and speed up the distribution of your assets.
What does an estate plan actually do?
Estate planning is not only about where your cash and other assets will go. A well-written estate plan creates your legacy and ensures that your loved ones and your favorite causes are taken care of. You can provide for your children, significant others and the causes you care about by leaving all or a part of your estate to one or several beneficiaries. Beneficiary designations are an easy way to care for your loved ones and cost you nothing at the time they are promised. You can also use your estate plan to support the charities that you care about, even creating an endowment so your support continues forever.
Do I need a lawyer?
Technically, no, and there are several online will options out there. But lawyers can help find nuances that you may have missed when drafting an estate plan, even in simpler cases. It’s always wise to seek legal advice when making an estate plan. It is also important to remember to file your will with the Register of Wills in your local county office.
Why do I need to plan if I don’t have enough money for the estate tax to apply?
Federal tax laws can change, so it is good to have a plan in place. And many states, including Maryland, have their own estate and inheritance taxes in place at a lower level than the federal limits.
How do I get started?
Begin by taking an inventory of what assets you own, their approximate value and the people and causes that matter most to you. Then contact your professional advisors for their input. CFAAC can work hand-in-hand with you and your professional advisers should you wish to leave a portion of your assets to charity. CFAAC also offers a guide that can help you begin to think about your estate planning. For a copy and more information, contact our director of gift planning, Thomas Perkins, at 410-280-1102 ext. 103 or at tperkins@cfaac.org.
The Community Foundation of Anne Arundel County (CFAAC) is a tax-exempt, 501(c)(3), publicly supported philanthropic organization with the long-term goal of building permanent funds that provide support to local nonprofit organizations through grants and special projects. Its mission is to inspire and promote giving in Anne Arundel County by connecting people who care with causes that matter. Established in 1998, CFAAC is one of the largest funders of nonprofit organizations in Anne Arundel County. CFAAC distributes $6 to $9 million annually. www.cfaac.org.
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This column was originally published in the August 27, 2026 edition of the Capital Gazette.