Last Will and Testament is a document that determines what happens to the property and assets once you are no more. It clarifies whom your belongings should go to. How and who will be in charge of making things happen. Creating the Will also gives the opportunity to decide on an executor, the person responsible for distributing the assets, and the legal guardian for the kids.
What If You Die Intestate?
If you don’t have the Last Will and Testament Maine, you are dying ‘intestate’. In such cases, the government will find out how to deal with your property. If you have nominated people in the bank accounts, the fund will go to those on those accounts. Else, the courts will try to identify your heirs and distribute them following the probate process. The state will also figure out who will become the guardian to your kids. For many of those sitting down to think through these questions can make a lot of difference. If your situation is complicated or particular questions, you may need legal consultant help.
Who Needs a Last Will and Testament?
If you are a legal adult, you can benefit from Last Will and Testament, especially if you want to mention the last wishes and what needs to be done with their assets when you are not alive. Creating a Last Will and Testament is must for parents and those who have financial dependents. If someone depends on you, the Last Will can grant the peace of mind you have arranged for the beneficiaries in your absence. If you have young kids under age of 18, the Last Will can help designate the person you would like to be your kid’s legal guardian if you and the parent were not around.
Why Should You Not Ignore Creating It?
First, the Last Will allows you to mention the Wishes for the estate and your kid’s legal guardian. Besides, if you did not leave Last Will, the estate will go to probate, and you would not be able to leave assets to the relatives. If you don’t want to include some relatives as beneficiaries, it can be not easy without Last Will. The reason being the court will reach out to those who are related closely to you. They are least concerned about what feelings you might have had with that person.
Can You Create Your Last Will?
You can make a Will if you have crossed the legal age of adulthood, that is, 18-years of age. It would help if you were of sound mind. It means that you should understand what a Will is and what the documents mean before you sign it. You should also know the people who are listed in the Last Will and your relationship with them. It would help if you clearly understanding of what the assets are in terms of type and amount, and it also reflects how you want to pass them. There are some exceptions if you are married, belong to the military or are legally emancipated.
How to Write Your Last Will?
Maine Will forms are readily available with most legal forms site. It would help if you started with identifying the beneficiaries, choose a legal guardian for the kids. Also, decide on an executor for the estate and consider other wishes like who should take care of the pets. Sign up the Last Will document as per the state requirement and two witnesses who are not mentioned as beneficiary. Get the Will notarized.