Creating a Will is one of the most important steps you can take to ensure that your wishes are honored and your loved ones are cared for after you pass away. Despite its importance, many people delay this process, often because they are unsure of where to start. In this guide, we’ll walk you through the essential steps to creating a Will and highlight key facts that will help you make informed decisions.

1. Understand the Purpose of a Will

A Will is a legal document that outlines how you want your assets to be distributed after your death. It also allows you to appoint a guardian for your minor children and specify your funeral and burial wishes. Without a Will, the state will determine how your assets are distributed according to intestacy laws, which may not align with your wishes.

Fact #1: In Maryland, if you die without a Will, your estate will be distributed according to state intestacy laws, which may result in your assets going to relatives you did not intend to benefit.

2. Identify Your Assets and Beneficiaries

Before you draft your Will, make a comprehensive list of all your assets. This includes real estate, bank accounts, investments, personal property, and digital assets. Once you have a clear picture of your estate, decide who you want to inherit these assets—these individuals are your beneficiaries.

Fact #2: You can name individuals, organizations, or charities as beneficiaries. For example, many people choose to leave a portion of their estate to charitable organizations like the American Society for the Prevention of Cruelty to Animals (ASPCA).

3. Choose an Executor

An executor (or in Maryland, a “Personal Representative”) is the person responsible for carrying out the instructions in your Will. This includes managing your estate, paying off any debts, and distributing assets to your beneficiaries. Choose someone you trust to handle these responsibilities, and make sure they are willing to serve in this role.

Fact #3: A Personal Representative must be at least 18 years old and cannot have been convicted of a serious crime.

4. Consider Legal Requirements and Formalities

Each state has its own legal requirements for creating a valid Will. In Maryland, for example, your Will must be in writing, signed by you, and witnessed by at least two individuals who are not beneficiaries. These witnesses must also sign the Will in your presence.

Fact #4: Maryland law allows for a “self-proving” Will, which means that your Will can be recognized by the court without requiring your witnesses to testify in a court proceeding. This can be done by including a notarized affidavit with the signatures of you and your witnesses.

5. Review and Update Your Will Regularly

Life changes, and so should your Will. It’s essential to review your Will periodically to ensure it still reflects your wishes, especially after significant life events such as marriage, divorce, the birth of a child, or the death of a beneficiary.

Fact #5: In Maryland, if you get married or divorced after creating a Will, it does not automatically revoke your Will. However, your spouse may be entitled to an elective share of your estate if they are not included in the Will which means that they are eligible to either one half (if there are no children) or one third (if there are children) of your estate.

Conclusion: Take Action Now

Creating a Will is a crucial step in protecting your assets and ensuring your loved ones are cared for according to your wishes. While it may seem daunting, the process can be straightforward with careful planning and consideration. If you’re unsure where to start or need help drafting your Will, consider consulting an estate planning attorney to guide you through the process.

Taking the time to create a Will now will give you peace of mind knowing that your legacy will be preserved and your loved ones will be protected.