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How to write your will

On Behalf of | Jan 25, 2023 | Estate Planning, Wills |

Estate planning is something all Maryland residents should do to prepare for the future. Having a will is one of the basic steps to take. This is how you can go about creating one.

Choose an executor

Choose an executor to handle your estate after you’re gone. You will want to name someone who’s organized and responsible because they’ll have to handle a lot of paperwork. If you have someone specific in mind, speak with them first to ensure they’re up to the job.

Choose your beneficiaries

All wills must specify beneficiaries who will inherit the person’s assets and property after they pass away. Most people choose their spouse, children and other family members, but you can also name close friends as beneficiaries. However, if you only have one person in mind, naming a contingent beneficiary can ensure that someone receives your assets in case your first choice dies.

Choose a guardian

If you have minor children, choosing a guardian for them is crucial. Should you pass away prematurely, this ensures you’ll have someone trustworthy to take care of your kids. You may want to choose a second person as a guardian for the same reason as selecting a contingent beneficiary.

Protect your pets

Your pets are beloved family members, but in the eyes of the law, they’re considered property. You can protect them by naming a guardian and stating special instructions in your will about their care. Be sure to talk with the person you’re considering first to ensure that they’ll take them.

State who receives what

Clearly state in your will who you wish to receive which assets or property. This can eliminate any potential squabbles among your heirs in the future.

Once you’ve written your will, periodically reviewing and updating it can give you peace of mind.