WHY HAVE A WILL?

The main function of a will is to dispose of one's property, the disposition to take effect at death. But that is not necessarily the main purpose of a will. Maryland descent and distribution laws will give a decedent's property to just about the same people he or she would give it to by will. Imagine a situation of that sort, if you please, because it emphasizes what is to follow. By way of example only, let us assume that the law of our state gives an intestate's (a person without a will) spouse all of his or her property, and if there is no surviving spouse, then to their children in equal shares. Let us further suppose that that is just what our decedent wants for his family. Why should he make a will?
What will happen if the decedent doesn't make a will? A Personal Representative (Executor) will have to be appointed. This Personal Representative will have to furnish bond. Also, when he or she manages the estate, he or she will have to stay strictly within their very limited statutory powers. Every event the least bit off the beaten track will necessitate their going into court for special authority.
If the decedent makes a will, the problem is simplified and the expense vastly reduced. The decedent can usually relieve the Personal Representative of the necessity to post a bond. Obtaining letters testamentary is much easier, because only one person is petitioning for them. The Personal Representative can be given powers broad enough to cover any situation. And each time he or she stays out of court, the estate saves money. Let us say, then, that a will does not one, but two, jobs. One, of course, is to distribute the property, as the testator desires. The other is to do it as economically as possible. 
A last will and testament is an effective expression of its maker's intention as to what shall be done with property in his or her control at their death. Usually it must be in writing and executed in strict conformity with the applicable statutory requirements. While a will may be admitted to probate even if it does no more than nominate an executor, most wills are made to dispose of property.

The general rule is that a will speaks as of the time of the testator's or testatrix's death, and, subject to valid claims of his or her creditors, passes property then owned by the testator or testatrix, unless specific circumstances exist which indicate a contrary intent, or the will itself contains a provision which shows a contrary intent.

Unless you want the State to determine what happens to you and your property upon your death, having a Will is your answer to your desire to control these matters.

For more information, call Elliott Lewis, atty at 410-962-1442