Singles & Spouses with No Will
Don’t have a will?
Perhaps, you should know what will happen if you die without a will in Maryland. Specifically, if you are single or are married.
A single person in Maryland can come with many different types of scenarios with regards to their estate after they die.
With Living Parents and no Descendants.
If an individual dies as a single, but your parents are still alive, Maryland will divide your estate accordingly.
The entirety of your estate will pass to your parents. This is usually no problem for the individual who has passed unless they are for any reason estranged from their parents.
If an individual dies as a single but has descendants, Maryland will give all the money to your descendants.
Children under 18
If your children are minors, the money will be placed in a trust until the child reaches the age of 18 when they will inherit all of it, and the judge will appoint a guardian to take custody of your child. I often recommend that the individual create a will to avoid the government creating a trust and appointing a guardian for his children.
Children 18 or older
If the children have reached the age of majority, the money will go to them outright. I usually still advise that they create a will because I would not have trusted myself at the age of 18 to handle an inheritance well.
People are often surprised when they hear what the State of Maryland plans for spouses who predecease their other spouse. They usually assume that everything will ultimately go to their spouse. That is not the case. The State of Maryland actually gives the first $15,000 to your spouse along with 1/2 of the remaining. The other half will be divided equally among your surviving parents. This is not what most people want or need.
A Comprehensive Approach to Estate Planning
Here at Albers & Associates, we can help you with the following types of estate planning in Maryland:
- Advance Directives
- Health-Care Proxy
- Power of Attorney
- Living Will
When planning out your end of life and how your estate will be transferred you have several options. Here at Albers & Associates we know all the ins and outs of these options and can explain them to you in a way that makes sense. Simply put, we sit down with you to understand your goals and craft a plan which achieves those goals in the best possible way.
Albers & Associates are located in both Carroll County and Howard County. The two offices represent clients in Maryland DUI/DWI, personal injury, and criminal matters throughout Maryland. Located in downtown Westminster and Columbia, Maryland Albers & Associates take a personal interest in each client. You need an attorney that will listen to you and understand your unique situation, whether it be a criminal arrest, complex divorce and custody case, drunk driving charges, or an injury caused by an automobile accident. For more information visit https://www.rossalbers.com/The post Singles & Spouses with No Will appeared first on Albers and Associates.