Do you know where your legacy is going? Do you know for a fact that your assets are going to be awarded to the right people? If you answered no to either of those questions, then it may be time for you to put together your will. Head into tomorrow knowing that your assets will be handled the way that you want them to be handled by working with a Westminster, MD Wills Attorney.
What Happens When You Die Without a Will?
If you don’t have a will, then the state will decide where your assets will go upon your death. A last will and testament will also name a guardian for any minor children, control the lands awarded to minor children, and appoint an executor, who will handle your will once you cannot.
Choosing the right executor for your will is exceptionally important because this is the person who will be acting on your behalf and ensuring that your will is handled appropriately.
Can I Write My Will Myself?
Actually, you can. Though you can put your will together yourself, it’s highly likely that your will may be contested. Following your death, your will be put into play by your executor or, “personal representative” in probate court. Part of the probate court’s proceedings is to verify that your will is legitimate. In the event that you did not work with a Westminster MD Wills Lawyer to create the will, it’s also possible that you did not follow the necessary steps to verify the will.
To make will binding, you will need to sign the will in front of two witnesses and then have them sign the will. Though you do not need to notarize your will, making sure that it follows the rules of legitimacy is of paramount importance.
Please note that you cannot hand-write your will. The only way that the State of Maryland will recognize a handwritten, or “holographic” will is if it has been written by a member of the armed forces while overseas. The will shall only be honored for one year after the armed forced member has been discharged.
How Can I Choose an Executor?
The Executor of your will is the person who will be managing the affairs of your estate until your assets are distributed to your intended heirs. They are the one that will be handling the brunt of probate court and will be responsible for many important aspects of your last will and testament. The person that you choose for this job should be responsible above all else. Though you may be tempted to choose someone you like, it’s best to chose someone that you can really trust.
How Do I Avoid Probate Court?
After your death, the person you have appointed to be the Executor of your last will and testament will file a petition with probate court. The probate process works to assess your will’s validity in the event is is contested, address any final bills or previous debts, and see that the assets within your estate go to the right people.
The process of probate can often last a long time and the longer it goes on, the more costly the process will be. To avoid the probate process, there are a few different options that you can choose from. One of the most popular is a living trust. Talk to a Westminster, MD Wills Lawyer about your particular circumstances.
Secure Your Future with Estate Planning Services
If you’re not sure how your assets will be handled, then you need to work with Albers & Associates to make sure the matter is settled. We can help you with all aspects of estate planning from developing your will, to assessing your living trust, and more. Contact us today for more information and to set up a free consultation.