| It should be noted that just
because an individual dies without a Will it does not necessarily
mean that their property will go to the State. The State only
receives the property if there are no known surviving relatives.
However, to ensure that the correct amount of your property
goes to whom you desire, you should execute a Will. Additionally,
a Will can also be used to create trusts, name the trustees
and beneficiaries of trusts and to appoint guardians for the
decedent's minor children.
Valid Will
In Maryland, for a Will to be valid it must been made by a
person who was over the age of 18 and legally competent to
make a Will. Additionally, the will must be in writing, signed
by the testator or testatrix (the maker of the will), and
attested and signed by two or more credible witnesses in the
presence of the testator or testatrix. In Maryland, a Will
does not have to be notarized to be valid.
Probate
Probate is the proceeding under which the assets of the decedent
are administered and distributed pursuant to the decedent's
last will and testament (if the decedent had a will) or the
laws Intestate (if the decedent died without a will). The
probate process is overseen by the Orphans' Court of the county
in which the decedent lived at the time of his or her death.
The Register of Wills is the official of the Orphan's Court
who supervises the required administrative proceedings.
This process is begun by the filing of a Petition for Probate
with the Register of Wills or the Orphan's Court and is completed
once the Orphan's Court approves the final accounting supplied
by the decedent's Personal Representative. This entire process
will generally takes at least nine (9) months to complete
and for complex estates will often take longer.
Advanced Health
Care Directive
Health Care, Durable Power of Attorney and General Power of
Attorney are three
documents uses for estate planning tools. The advanced care
directive (previously known as a Living Will) gives the person
the opportunity to declare their wishes with regard to extraordinary
medical efforts to prolong their live or not to when the end
result will not be changed. In other words, their death will
occur anyway.
The health-care durable power of attorney gives the individual
the right to choose will make medical decisions for them when
they are unable to do so or simply when they unavailable to
do so. The general power of attorney allows the person to
appoint someone to handle all of their financial, property
matters and business matters. The last two documents can take
effect upon disability or immediately at the declarants option.
The reason a person might want the first two documents is
to exercise their discretion and appoint a person or persons
of their choice to make the medical decisions instead of the
statutory scheme.
At Cohen & Dwin, we are available to
help prepare your estate planning documents and assist you
through the probate process. Call us at 410-LAW HELP
for a free consultation.
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