Despite what most people believe, estate plans and wills aren’t just for the wealthy or elderly. Regardless of your age, creating a will is a crucial step to take to protect your loved ones in the event of your incapacitation or death. While no one likes to consider their mortality, it’s worth making proper arrangements to safeguard your legacy. If you’re considering creating a will, it’s in your best interest to contact a proficient Montgomery County Will Drafting Attorney who can help you make your intentions as detailed as possible to ensure that your final wishes will be honored as you intended. Please continue reading to learn what information you should address in your will.
What is the most critical information to address in a will?
When writing a will, you want to use precise language that clarifies your directions. Using concise writing will eliminate ambiguity, reducing the risk of misunderstandings. Therefore, you’ll enable your grieving loved ones to pay tribute to your life. Many people neglect to realize the advantages of establishing such a document. However, don’t make the same mistake, as creating a will can lift an enormous weight off your friends and family’s shoulders.
Firstly, you’ll want to ensure your will includes all of your assets:
- Real estate or property
- Businesses, stocks, or bonds
- Intellectual property
- Funds in savings, checking accounts, and money market
- Valuables and collectibles like cars, jewelry, family heirlooms, artwork, etc.
Once you’ve identified your assets, you should make it abundantly clear who you wish to receive them upon your death. It would be best to use the specific names of the people you designate as your beneficiaries and the assets you plan to distribute to them. Conflict can quickly arise regarding how assets and property are divided if you are unclear about your intentions. In addition, you should consider your digital assets, such as your online accounts, bank accounts, photos, and more.
If you have children, it’s crucial to nominate guardians. If you fail to name a legal guardian before your death, the court will be responsible for choosing who will care for your children. This means you’ll have no input. Therefore, while this is an emotional topic, you must appoint a legal guardian to ensure the right person is left responsible for raising your children.
Do you need to hire an attorney?
While you don’t necessarily need an attorney to create a will, there are various advantages to enlisting their help. An experienced attorney will understand what Maryland law requires for a will to be valid and enforceable. They also understand what should be addressed in a will to ensure your loved ones are protected in the event of your death or incapacitation.
If you’re considering writing a will, please don’t hesitate to contact a qualified attorney from the legal team at JD Katz, who can help ensure you cover all your bases to safeguard your legacy.