Top Estate Planning Strategies For The D.C.-Baltimore Area

by | Mar 19, 2021 | Blog

To start our examination of estate planning and the top strategies for properly planning your future, let’s take a look at one story of a man named Roy who went through some difficult times and eventually. Akin got him the help he needed.

The story of Roy & The strategies he used to plan for retirement

We recently had the pleasure of assisting Roy Tatum, who came to us with several personal goals that he wanted to achieve. Like most people, Roy had the personal goal to retire when he turned 60. We gladly accepted the chance to assist Roy in this matter.

Roy presented us with a very unique situation. At the age of 49, Roy inherited property that had been left to him in his parent’s will. In Roy’s situation, the property he inherited sat in probate for three years. Here at Akin Developers’, we understand that every estate plan is unique because needs like Roy’s need to be tailored to you and your family’s specific needs.

What To Plan For When Considering Assets For Retirement

When creating or updating your plan, consider following this seven-point checklist:

1. Consider your personal goals and those of your spouse so in Roy’s situation, he would like to retire at 60. What kind of legacy do you want to leave behind?

2. Estimate the size of your estate for tax purposes, and available assets to fund bequests.

3. Consult a financial professional to help you create a net worth statement and a list of financial assets, including:

  • Pension or 401(k) plans
  • Life insurance policies
  • Stocks, bonds, mutual funds
  • Savings and checking accounts
  • Homes
  • Collectibles

4. Check into available services through your employer: will preparation, legal services, or estate planning resources.

5. Consider significant life changes such as a divorce, marriage, birth or adoption of a child, and death of a close family member.

6. Learn more about special estate planning considerations if you have a child with special needs.

7. Investigate changes to estate tax laws with the help of a tax advisor — both state and federal. Laws are constantly changing and it’s best to keep abreast with all the changes that are being implemented.

All of these individualized assets are just the beginning of what to consider when planning for your future and obtaining your goals. These points have further aspects to them to explore and deserve attention.

Real Estate Retirement Planning:

The following are just the tip of the Estate planning Iceberg:



The will is the primary element of your estate plan. It dictates how you want to distribute your assets within the family.


A trust can help you minimize estate taxes and protect your assets while giving you more control.


Healthcare directives and others are used to help tell your family what your wishes are for short-term decisions and medical care.

Life Insurance

Make sure each life insurance policy is current.


Your beneficiaries should always be up to date.

Guardianship Designations

If you have minor children, designate guardians to raise the kids and review periodically to make sure they are up to date.

How Akin Pulled Roy From Probate

Roy wanted to meet his goal and we offered him another opportunity to make this possible and also wanted to solve his problem with having a home sitting in Probate. We presented the idea of selling a home to an investor. A home in Probate benefits the Investor and an appealing characteristic. Selling your home to an investor offers a Seller numerous benefits and make reaching your goals simpler.

The Benefits Of Selling Your Probate Property To An Investor In The D.C- Baltimore Area

The first benefit is that the seller of the home can get cash faster. When your house is on the market you have to wait for offers to come and negotiations to take place. This exhausting process can take days, weeks, or even months. For the investor that is buying, the home can be sold below market value. The seller is more than likely just wanting to be rid of the home.

With investors, an offer is typically made within 24 hours. They visit your property, assess what they think it’s worth, and make you an offer. Investors pay cash with no hidden costs.

In like many situations, there are always those pesky hidden fees that come about. By selling to an Investor, a Seller can say goodbye to hidden fees. Realtor fees can be five to six percent while accumulating additional costs for staging your home and taking professional photos.

If you’re looking to get cash fast, then odds are you don’t want to spend unnecessary funds trying to sell your house. Getting you immediate liquidity is why investors play such an integral role in saving you money. They eliminate the need to hire a realtor, removing commission fees, so your money stays in the bank, where it belongs.

The next benefit to selling to an investor is that: more likely than not, your home is not nearly perfect so, with having an investor taking over your property, you can sell your house in its present condition.
If you’ve ever sold a house through a realtor, you know how stressful a home inspection can be. Buyers will look to nickel and dime you, asking that every imperfection be corrected before they will close on a property. This costly endeavor takes time, further delaying the sale of your home. Investors buy your house in “as is” condition. There’s no need to make costly repairs for a home you’re only going to vacate.

In this day and age, location is everything and an investor can alleviate the added headache that comes with worrying about having an “unmarketable” home because of its location. For example, you may have the best house on the block, but if your neighborhood is in a less than ideal location, your granite countertops won’t matter and the location will still bring down the overall value of the home. If you’re close to major highways, you may find yourself with a house that won’t sell. The location alone can deter prospective buyers, causing your property to sit on the market.

The longer a house sits on the market, the less attractive it becomes. The beauty of investors is that they purchase homes in all areas, regardless of location.

Finally, selling to an Investor can present you with a quick turnaround on closing. In the majority of cases, closing on a home can be months away on the calendar. Since investors eliminate realtors, there is significantly less paperwork to track and organize. You may even be able to close on your house (and claim your equity) within a week! The speed is because of the elimination of realtors and their lengthy paperwork. Investors, however, allow you to sell your house and move forward with your life, all within a speedy time frame.

What Roy’s Probate Problem’s Means For You

When you think about the allocations of your assets and property, keep Roy in mind and use him as a learning tool. If the future of your estate hasn’t been pre-planned and you’re stuck in probate, then seek out the advice of the best real estate investor in your area. Best of luck & we hope to be a source of education for people in any location, so check back often. Wherever you are in life, let Akin Developers help you make the steps in planning your future. No matter the questions of us, we have the answers for you.

Recent Blog Post

Fire Damage in Greenbelt, MD- Hayden’s Story

Fire Damage in Greenbelt, MD- Hayden’s Story

Fire damage can be devastating and happen quickly. Something as simple as forgetting to extinguish a candle before bed can lead to a fire starting in your home. There are also hidden risks that can factor into a house fire. According to the National Fire Protection...

Structural damage in Beltsville, MD.-Ira’s Story

Structural damage in Beltsville, MD.-Ira’s Story

A seasonal home inspection can help you uncover structural damage. Checking your home can help you discover a fixable repair before it becomes an overwhelming cost. Some repairs, by the time they show up, are already going to be expensive repairs. Structural damage to...

Selling an Inherited House in Baltimore, MD-Cora’s Story

Selling an Inherited House in Baltimore, MD-Cora’s Story

Losing a loved one can be an extremely emotional process. When you are also the executor of your loved one's estate, the whole process can become overwhelming. The executor's job is to determine the debts and value of the estate for tax purposes. They also have to pay...

Tired Landlord in Lorton, Va- Issac’s Story

Tired Landlord in Lorton, Va- Issac’s Story

Older homes require maintenance and upgrades even if nothing appears damaged. Pipes over 30 years old are likely to have been made with materials that have broken down over time. Pipes made from galvanized steel have been found to break down over time and rust. This...

Ready to Rent in Hyattsville, MD- Maisie’s Story

Ready to Rent in Hyattsville, MD- Maisie’s Story

When you are relocating to a new area, amenities and neighborhoods are very important. You have to decide if you want to live closer to a big city or further out with a longer commute. Maybe you want to be closer to more restaurants and museums or closer to parks and...


Enter your information below to received your fast cash offer!

  • Hidden
  • Hidden
  • This field is for validation purposes and should be left unchanged.