Last Will and Testament
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Developing Your Last Will and Testament in Maryland
A Last Will and Testament is a legal and powerful document. It can help protect and provide for your family, as well as ensure that your future goals and legacy are carried on.
Your Last Will and Testament empowers you to:
- Name legal guardians for your minor children if you are no longer living
- Distribute your probate property (property titled solely in your name) in accordance with your wishes
- Prevent your family from suffering needless grief and uncertainty
- Manage property in a Testamentary Trust for your loved ones with prolonged distribution
- Prevent the government from stepping in and distributing your assets
- Allocate funds for your children's future education and general support
- Make gifts and donations to causes you trust
- Determine who pays estate taxes and administrative expenses
- Appoint a personal representative (administrator)
- Provide burial/cremation/memorial instructions
- Provide for your pets
FAQs
WHAT IS A WILL?
A Will is a written document, a set of instructions, that controls the disposition of a decedent's probate property (property titled in a person's sole name). It "speaks at the testator's death."
IF I DIE WITHOUT A WILL?
If you die without a will, the laws of Maryland (intestate succession statutes) will come into effect and your assets will be distributed according to them.
CAN I CHANGE MY WILL?
As long as you are of sound mind, your Will can be amended or revoked at any time prior to your death. However, legal and statutory requirements must be met. An amendment to your Will is called a "codicil."
DO I NEED A WILL?
A Will permits you to control the disposition of your probate estate and in most cases has significant advantages over intestacy (dying without a Will).
Deciding who will be appointed as a guardian for your minor children, what will happen to your home, your financial assets and your personal belongings after your passing can be a difficult process. However, if you don't take the time to make these decisions now, a court may end up dividing your property for you and deciding who is going to raise your minor children and managing their money.
Deciding who will be appointed as a guardian for your minor children, what will happen to your home, your financial assets and your personal belongings after your passing can be a difficult process. However, if you don't take the time to make these decisions now, a court may end up dividing your property for you and deciding who is going to raise your minor children and managing their money.
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