People in Columbia, Maryland want to provide for their families. This desire includes ensuring their family’s financial security should they pass. One of the best mechanisms available to residents of Columbia is a last will and testament. When confronted with the loss of a loved one, a family should not be burdened with the economic and emotional issues that would occur if they died intestate – or without a will.
There are many tools available to people looking to provide for their family’s future. Depending on your assets and intentions, our Columbia, MD wills and estate attorney can assist you in choosing the appropriate plan. If you do not have will, or are looking to modify an existing document, contact Rice, Murtha & Psoras at (410) 694-7291 to schedule a free consultation.
Estate Planning Attorneys Available to Columbia, MD Residents
The most common estate planning tools used by Columbia residents are wills, trusts, and living (revocable) trusts. Our Columbia wills and estates lawyer will help you pick the planning option that best suits your specific needs. Our office will not only consider your personal wishes, we will also review the tax implications, potential family challenges, and creditor claims on your estate.
Because you have worked hard for your family and for what you have, you need to take the time and effort to plan for your future. Our office will not only help you provide for your family – we will work to ensure your assets are protected and distributed according to your wishes.
The Value of Creating a Will in Columbia, MD
A person’s last will and testament expresses their wishes for their type of burial, cremation, and their property’s disposition after their death. The person who died, and executed the will, is known as the testator. In most cases, the last will and testament will appoint a representative to manage the estate after the testator has passed. In addition to bequeathing assets, a will could also include trusts and provisions for minor children or grandchildren.
Our experienced Columbia wills and estates attorney can help you draft a will and oversee the distribution and management of your estate after your death. It is a common misconception that you only need a will once you have reached a “certain” age. However, a younger person could also benefit from having a will, especially if they have young children or a spouse.
Intestate Laws in Columbia, Maryland
The legal term for someone dying without a will is “intestate.”. Maryland law prescribes how a person’s assets will be distributed in they die intestate. If you allow the state to determine how your property is handled after you have died, your family and loved ones might be left without the security and support you intended.
For instance, under Maryland’s intestate succession, there is no consideration for unmarried partners when a person’s assets are distributed. Additionally, if you are married but have no children, your spouse could be required to share your estate with your surviving parents. Furthermore, the law does not provide for stepchildren but makes no distinction between whole-siblings and half-siblings when disbursing property. Without proper estate planning, your loved ones might not be provided for as you wished.
A last will and testament gives the testator the power to name their beneficiaries and the exact distribution of property. Our Columbia wills and estates lawyer is dedicated to helping you fulfill your intentions. Only through a properly executed last will and testament can you ensure that your beneficiaries are provided for according to your vision.
Any person with children is concerned about their welfare and upbringing. A last will and testament allows you to continue to influence your children after you have gone. For example, you can create a trust for their education or nominate a guardian.
Creating a Will in Columbia
There are a number of requirements to execute an enforceable will in Maryland. First, you must be of sound mind and at least 18 years old. Sound mind means that you fully understand your assets and property and have a clear intention on how it should be distributed after your death. If there is an existing will, you must formally revoke the previous document.
While it is not required, you should have our knowledgeable wills and estates attorney representing your interests when you draft a will. In addition to an intimate understanding of Maryland probate laws, our office also understands the tax consequences and obligations regarding the transfer of estate property.
Have experienced legal representation will also provide foresight and help avoid some of the common mistakes people make when drafting their will. A will might appear simple on its face, but you will likely come across issues, problems, and terms that require someone with the appropriate legal knowledge to address. Additionally, our Columbia wills and estates attorney can help plan for potential complications in the future, including ensuring that your wishes outlined in your will are followed.
Call Our Columbia, MD Wills & Estates Attorney for a Free Consultation
Very few people want to take the time and think about their eventual death. However, without proper estate planning, you could die and leave your family and loved ones facing financial difficulties or uncertainty. A last will and testament allows you to provide for your loved ones. Additionally, a trust gives you control over the financial welfare of your family and loved ones. Our Columbia, MD wills and estate attorney will carefully review your goals and assist you in choosing the appropriate tools to ensure your wishes are fulfilled. Call the Maryland estate planning lawyers at Rice, Murtha & Psoras at (410) 694-7291 to schedule a free consultation.