Maryland Wills Attorney
Whether you are nearing retirement age or just recently threw your graduation cap in the air at your ceremony, an estate plan will help you prepare for the future. Estate plans also address many crucial questions, including:
- If you were to become disabled and couldn't make medical decisions, who would you want to speak on your behalf?
- Who would take care of your minor children if you died, and who would stand to inherit your assets?
- Would your family have to wade through the costly and lengthy probate process?
At the Law Offices of Tina Sharma, our Maryland wills attorney serves Silver Spring, Washington DC, Montgomery County, and areas throughout Maryland, offering comprehensive counsel and assistance for wills and estate planning.
What is a Will?
In general terms, a will is a legal document used for coordinating the distribution of your assets after you die and appointing guardians for minor children. A will is essential since it provides a way for you to communicate your wishes clearly and precisely. When creating or updating a will, it's best to work closely with a Maryland wills attorney. You will want to be sure that you only include provisions within your will that are legal and can and will be honored. Otherwise, you are likely wasting your time creating one.
Without a will, the state you reside in decides how to distribute your assets to your beneficiaries according to its laws. This is known as dying intestate. The resulting settlement process may not produce the results you would prefer for your survivors. You can stop this by having documents drafted that reflect your wishes.
Suppose you fail to execute a will before you die. In that case, the state you live in at the time of your death decides how to distribute your assets to your beneficiaries according to state laws. This is referred to as dying intestate. Sadly, the resulting probate process often doesn't result in what the deceased person would have wanted for their survivors. The good news is that you can prevent this from happening with documents that reflect your wishes.
What is Included in a Will?
Wills can be drafted differently, depending on your wants and needs. Be sure to discuss any special requests or circumstances with your Maryland wills attorney. A typical will includes:
- Designating or naming an executor who will carry out the provisions of your will
- Naming beneficiaries—those individuals who will inherit your assets
- Instructions concerning how and when the beneficiaries can receive your assets
- Appointing guardians for any minor children.
- Why naming beneficiaries is important
It's also imperative to name beneficiaries on assets that allow it, including:
- IRAs
- 401(k)s
- Brokerage accounts
Also, ensure that you keep those designations up to date.
Meet with a Maryland Wills Attorney Today
No matter what chapter of life you are in, it's always a good time to set up your will or check to make sure it's up to date. Doing this with the help of a Maryland wills attorney is in your best interest as well as your family members' best interests. You want to be sure that you aren't missing any provisions in your will, that it fully contains what you want to happen after your death, and that it abides by applicable federal and state laws. Learn more about how we can help with your wills and estate planning. Call the Law Offices of Tina Sharma today by phone at 202-875-7462 or use our online contact form.
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