When creating a will, most people are guided by how they want their assets to be distributed. However, while the concept of a will provides flexibility, Maryland has legal guidelines regarding whom residents can and cannot include.
Residents of the Old Line State can benefit from exploring these requirements to gain insight into key rules to protect their legacy.
Minor children
While the state laws do not require residents to leave specific assets to their minor children, there are rules in place to protect the interests of beneficiaries who are younger than 18 years.
A will should have stipulations regarding a minor’s inheritance, such as a designated guardian or a trust with a trustee who can manage their inheritance until they reach adulthood. However, if no guardian is appointed, the courts will intervene to help ensure the children’s welfare.
Spousal rights
One of the most critical requirements per Maryland’s inheritance laws pertains to an individual’s spouse. Residents are legally obligated to include their spouse in their will. If a person tries to exclude their spouse from their will, the spouse is legally entitled to claim an “elective share” of the estate.
In other words, the surviving spouse has the legal right to claim a portion of the estate regardless of the instructions outlined in the will. The Old Line State entitles the spouse to half of the estate if the couple has no children and one-third if there are surviving children. This rule aims to protect spouses from being disinherited, helping to ensure they are left with a share of the deceased’s estate.
When writing a will, the residents of Maryland can benefit from understanding the provisions of their state’s inheritance laws. With proper legal help, individuals can curate a straightforward will that complies with the laws of the land.