When it comes time to start thinking about planning one’s estate, arguably the most important factor is the creation of a will. A will is a legal document that allows an individual to declare their wishes for what happens to their estate upon their passing. Some people do find the process of planning their estate to be emotional, as it can be hard to think about no longer being here but knowing that your wishes will be met can bring an individual some peace.
Many people wonder if they even need a will and while the answer is technically no, according to the law, it is very beneficial to surviving loved ones if a will has been created. Those who pass away without a will are said to die “intestate.” Creating a valid will is the only way to ensure that the assets you have worked so hard for will be distributed in the way you want them to be. Individuals who die intestate will have their assets distributed in accordance with Maryland’s schedule of intestate succession. For example, if the individual is survived by their spouse and children under the age of 18, the spouse receives one half of the estate and the children share the other half of the estate. The state accounts for families made up of various surviving members if a spouse and children are not applicable to that particular situation.
It is important to consider creating a valid will in Maryland. To ensure the will is valid, it must be written, signed by two witnesses in front of the testator, and signed by the testator themselves. If you have questions about creating a will, contact our firm today.
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.