Exploring estate plan options may be beneficial in Maryland

If Maryland residents do not create a will before they die, it is possible that their surviving families could face complications when it comes to various estate issues. Litigation could occur pertaining to custody of children, division of assets or other factors, and the surviving relatives could lose time and money during such proceedings. Therefore, individuals may wish to consider creating an estate plan.

Though families may not be strictly cheated out of their share of property in the event of a death, the distribution process may be complicated or seem unfair. Without a will, the state will control how applicable assets are distributed. In most cases, the immediate family, such as surviving spouses and children, will be the first considered when it comes to obtaining property. However, if heirs disagree on the distribution, litigation could ensue.

Additionally, if there are children left behind due to the death of a parent or parents, custody arrangements may be more complicated without a will. Individuals can name those whom they desire to be guardians for their minor children in their wills, but when such a document has not been created, custody battles could take place. As a result, children could be negatively affected by time spent in uncertainty.

If Maryland residents do not wish to put their families through such potential difficulties, they may wish to look into their estate plan options. A will is a common document that is utilized for many estates, but there are also additional accounts and documents that could be created. Individuals may wish to assess their particular cases in order to determine which plans could be most fitting for them.

Source: readingeagle.com, “Office Space: Dying without will can cause issues”, Vance E. Antonacc, July 26, 2016

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