Need an Attorney to help you plan your Maryland or DC Estate? Contact Raymond McKenzie at 301-330-6790 or ray@mckenzie-legal.com

In its simplest terms, a Will allows you do things like dispose of your property in the manner you deem fit, name a guardian for your minor children, and name a personal representative to administer your estate. For a person that does not have a Will, I ask why not? For those that do, the following tips and questions may prove helpful.

1. Review your Will every few years to make sure it is current. Does your Will say exactly what you want it to say? Sometimes the Will you had drafted 10, 15, 20 years ago needs to be amended. Have you obtained new assets not mentioned in your Will? Have children, grandchildren, nieces and nephews been born since the last time you reviewed your Will? When the time comes to amend your Will, you can execute a Codicil which amends your original Will, or you may execute a new Will entirely.
2. Who is the Personal Representative of your Estate as named in your Will? That person should at minimum be someone that you trust, who has organizational and administration skills, and who will have the time and energy to devote to the administration of your Estate when that time comes.
3. Who did you name in your Will as guardian(s) responsible for the rearing of your children until they reach the age of majority? Are those person(s) still alive and person(s) that you wish to have such responsibility?
4. Do you know where your Will is? Is it kept in a fire proof place like a safety deposit box? Is it easily accessible by a close family member? You do not want to leave your family in a position where the Will cannot be found and therefore your wishes are undetermined.
5. Along with your Will, do you have a living will, otherwise known as an advance medical directive, which expresses your medical wishes in case you should be rendered in a vegetative state? Failing to have a living will could have severe emotional and financial consequences on your family. Also, do you have a power of attorney that would allow a person close to you (your attorney-in-fact) to act on your behalf if you were incapacitated, regarding your bank accounts, bills, and other monetary and non-monetary issues that arise while you are unable to act?

Need an Attorney to help you plan your Maryland or DC Estate? Contact Raymond McKenzie at 301-330-6790 or ray@mckenzie-legal.com