Establishing an estate plan is extremely important as it helps ensure your wishes are carried out after you’ve departed. In addition, it ensures that your hard-earned assets are distributed to your intended beneficiaries after you pass away. Unfortunately, death is inevitable and it is better to be prepared for it to ensure your loved ones are cared for after you’ve gone. Once you’ve decided to create an estate plan it is imperative to have assistance from an experienced estate planning attorney to ensure it is enforceable and no mistakes have been made that could jeopardize the validity of your estate plan. Please continue to follow along to learn how you can make sure your estate plan is legally binding and how a seasoned Montgomery County Estate Planning Attorney can help you.
How can I make sure my estate plan is legally binding in Maryland?
To ensure that your estate plan is legally binding it is imperative to work with an experienced estate planning attorney. There are many components to an estate plan such as creating a will, appointing a power of attorney, assigning a healthcare proxy, and establishing a trust. However, one of the most important components of an estate plan is creating a last will. This document allows you to divide your hard-earned assets among beneficiaries. When drafting a will it is important to pay attention to the wording used to stipulate your wishes. A lack of clarity in the wording could lead to issues with your wishes being carried out properly and your beneficiaries may not receive their intended inheritance. Additionally, if you fail to sign and notarize your last will, it will be invalid. This means your wishes will not be enforceable. To ensure this isn’t an issue, it is in your best interest to work with a qualified attorney who can help ensure there are no mistakes made and that your estate plan is legally binding.
What if I die without a will?
Furthermore, establishing a will is an important estate planning tool as it ensures your wishes are properly carried out. However, many wonder what will happen to their assets if they die without a will. According to Maryland Intestacy Laws, if a person dies without a valid will, their assets will go to their surviving marital or blood relationships (children, parents, or a spouse). Essentially, your assets will be divided based on Maryland’s laws of intestacy. It is critical to sign your will as it makes it valid. Moreover, it is imperative to acquire the right legal counsel to ensure your estate plan is legally binding. This ensures that your family does not have to face Maryland’s laws of intestacy.
If you are interested in creating an estate plan, it is imperative to retain the legal services of one of our trusted and skilled attorneys. Our firm is committed to helping our clients protect their hard-earned assets by establishing a legally binding estate plan.