If you are debating if drafting a will is in the cards for you, continue reading and reach out to our experienced estate planning attorney to learn the ins and outs of the process and why it might be right for you.
What is a will?
A will is a legal document that expresses a person’s wishes for how their assets and estate should be distributed when they pass on. A will also allows individuals to designate a person who will manage their assets until its final distribution.
Why should I draft a will?
The most common reasons that a person takes the steps to write a will are as follows:
- First and foremost, you will be able to determine who will receive your assets when you pass: The will drafting and estate planning process will allow you to ensure your loved ones will receive your assets according to your wishes. You will find peace of mind knowing your property and assets are in the right hands.
- You can appoint a guardian for minor children: This benefit to drafting a will is typically a point of interest for individuals who are hesitant about writing a will at a young age. You might believe that you do not have enough assets to draft a will early in your life. However, with young children, being able to appoint a guardian may be reason enough to begin the will drafting process. In your will, you will be able to appoint guardians for your minor children. These guardians will have the duty of caring for and raising your child in the instance that you and your other parent become unable to do so on your own. If you do not appoint a guardian, the court will have to appoint a guard to raise your child on your behalf. This may not result in the person you would typically chose being appointed.
- You can appoint an executor: You will appoint an executor who will administer your estate. This person should be someone who you fully trust and can take on many responsibilities on your behalf after you pass. This means that your executor will be in charge of avoiding the probate process as well as ensuring your assets are distributed according to your will. They will also be in charge of closing your estate.
How can I be sure a will is valid?
Your will must be signed by a testator as well as two witnesses in order for your will to be valid in Maryland. It is also important to know that the testator must be at least 18 years of age and legally competent at the time in which the will was written and signed.
Contact our experienced Montgomery County, Maryland firm
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.