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YOUR WILL (IF YOU DON’T HAVE A WILL)

Disclaimer: The information contained in this FAQ is provided for general information purposes only and is not intended to be a legal opinion, legal advice or a complete discussion of the issues related to your will and estate planning. The provisions of your state's intestate will may differ. Every individual's factual situation is different and you should seek independent legal advice from an attorney familiar with the laws of your state or locality regarding specific information.

This is the “Will” that the State of Maryland writes for if you are married, you have children from a previous marriage, and you die without a properly prepared and validly executed and witnessed will (what lawyers call intestate.) Most states write something pretty similar, and it isn't a pretty picture. It will likely cost you money and probably won't be what you want to have happen. Don't do this to your family--have a will drawn up by your attorney to do what you want to have done.

 

BEING OF SOUND MIND AND MEMORY, I do hereby publish this as my Last Will and Testament:

First: If none of my children are minors, I give my wife Fifteen Thousand Dollars ($15,000).

Second: I give one-half (1/2) of the balance of my estate to my wife and one-half (1/2) to my children.

Third: (A) I appoint my wife as guardian of my minor children, but as a safeguard, I require that she report to the Orphans' Court regularly and render an accounting of how, why and where she spent the money necessary for the proper care of my children.

(b) As a further safeguard, I require my wife to produce, at her expense, a performance bond to guarantee that she exercises proper judgment in the handling, investing and spending of the children's money.

(C) As a final safeguard, my children shall have the right to review the financial records of my wife pertaining to all her financial actions with their money.

Fourth: When my children reach the age of eighteen (18) years, they shall have the full rights to withdraw and spend their respective shares of my estate on cars, trips, gifts or anything else they wish. No one shall have any right to question my children's actions on how they decide to spend their respective shares.

Fifth: Should my wife predecease me or die while any of my children are minors, I do not wish to exercise my right to nominate the guardian of my children. Rather than nominating the guardian I prefer, I direct the Court to choose for me. If the Court wishes, it may appoint anyone who petitions the Court and is interested in the welfare of my children. If any of my children are age fourteen (14) or older, the Court may appoint the guardian chosen by such children.

Sixth: If my wife remarries after my death, and then dies, I want her second husband to receive her share of my estate.

Seventh: Under existing tax law, there are ways I can lower estate taxes, inheritance taxes and probate costs. I prefer that my money be used for governmental purposes rather than for the benefit of my wife and children. I direct therefore that no effort be made to reduce taxes or probate expenses so that the government may receive as large a portion of my estate as possible.

Eighth: I appoint my wife to handle my estate and to be my Personal Representative. As a safeguard, I direct that she file a full Performance Bond, to be paid for by my estate, to guarantee that she does everything exactly as she should.

Ninth: Unless there is prior approval by the Court, I direct that no funeral or burial expenses in excess of Three Thousand Five Hundred Dollars ($3,500) be paid for my funeral or burial by my estate.

IN WITNESS WHEREOF, I have set my hand and my seal to this, my Last Will and Testament, this ___ day of _______________, 200___.

 

__________________________________
Testator's Signature

<<witness clause>>

Witnesses:

__________________________________

__________________________________

 

We can help you avoid the "Intestate's Will." Through proper estate planning, your family will be provided for, taxes and probate expenses will be minimized and your wishes will be carried out. Please call us at (301) 924-4400 or e-mail us to set up an appointment.

 

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