If you have children and assets, creating a will can be crucial in ensuring they are protected. Using this legal document is the first step when you live in Maryland and want to ensure your wishes are carried out when you die. Without a will, you’ll die intestate. Your assets will be frozen until the court system decides how your estate should be distributed and who will care for your kids.
Creating a will can be vital
Creating a will provides the legal declaration of your intentions when you die. One of the most common reasons to make one is to choose who gets your property after you die. Doing so means you can name family members, friends, or charities as beneficiaries.
Ensuring your children’s best interests are met
Nominating a guardian to take care of your kids when you die can be done using a will. This is critical if you want to ensure that your child is raised by someone who shares your values. You can also name a property manager to handle your children’s property if you leave assets to them. This action helps ensure an adult is managing high-value assets until your children can do so responsibly.
How to ensure your will is legally enforceable
Using technology to create your will can be convenient. However, if you choose to make a will using audio or video devices, it’s best to back them up with a written copy. Doing so helps ensure your last will is legally enforceable. A written will must be signed by yourself and two credible witnesses. This action can’t be done when you use audio or video.
Changing your will is allowed
Knowing you can change your will if you decide to add a beneficiary or get married should bring peace of mind. When circumstances are different in your life, it can be essential to update your will to reflect those changes.
Dying without a will
Without a will, the state will determine the distribution of probate assets and decide the fate of your children, which is why it’s critical to have one.
Once you’ve created your will, you’ll likely feel relieved, knowing who will take care of your kids and where your assets will be divided.