How to Draft a Will in Maryland
Drafting a will in Maryland is an essential step in ensuring that your assets and wishes are properly managed after your passing. It allows you to specify how your property will be distributed, appoint guardians for your children, and even name an executor to handle your estate. Understanding the specific steps and requirements can help you create a valid will that reflects your intentions.
Understand Maryland Will Requirements
In Maryland, to create a valid will, certain criteria must be met:
- Age: You must be at least 18 years old to draft a will in Maryland.
- Sound Mind: You should be of sound mind, meaning you understand the nature of making the will and know the extent of your property.
- Writing: The will must be in writing. Oral wills are not recognized in Maryland.
- Signature: You must sign the will at the end. If you are unable to sign, you can direct someone to sign on your behalf in your presence.
- Witnesses: The will must be signed by at least two witnesses who are at least 18 years old and who do not stand to inherit from the will.
Steps to Draft Your Will
1. Identify Your Assets
The first step in drafting a will is to make a comprehensive list of your assets. This can include real estate, bank accounts, personal belongings, investments, and any other significant valuables. Understanding what you own will help you make informed decisions about distributing your assets.
2. Appoint an Executor
Select a trustworthy person to serve as your executor. This individual will be responsible for carrying out the terms of your will. It's crucial to choose someone who is organized and capable of handling financial matters and can manage the probate process efficiently.
3. Decide on Beneficiaries
Clearly outline who will inherit your assets. You can specify percentages or particular items for each beneficiary. It’s important to ensure your wishes are clearly stated to avoid any confusion later on.
4. Include Guardianship Designations
If you have minor children, it’s essential to designate a guardian in your will. This person will be responsible for caring for your children should anything happen to you. Discuss your decision with the potential guardian beforehand to ensure they are willing to accept this responsibility.
5. Draft the Will
You can draft the will yourself using templates or software specifically designed for creating legal documents. However, consulting an attorney who specializes in estate planning is advisable to ensure that your will adheres to Maryland laws and covers all necessary aspects.
6. Sign and Witness Your Will
Once you've drafted your will, sign it in the presence of at least two witnesses. They must also sign the will after you do, affirming that they witnessed you signing the document. Keep in mind that witnesses should not be beneficiaries of the will, as this can cause complications during probate.
7. Store Your Will Safely
After signing, store your will in a safe location, such as a safe deposit box or with your attorney. Inform your executor and trusted family members where the will is kept. It’s important to make sure it can be easily accessed when needed.
Review Your Will Regularly
Life changes such as marriage, divorce, the birth of children, or the death of a beneficiary can affect your estate planning. It’s wise to review your will regularly and amend it as necessary to reflect your current wishes and life circumstances.
Conclusion
Drafting a will in Maryland is a responsible way to ensure your wishes are carried out after your passing. By following Maryland’s specific requirements and taking the necessary steps, you can create a thorough document that provides peace of mind for you and your loved ones.