Spell Out Your Dreams Through Your Will

We hope that you are not part of the nearly 25 percent of Americans age 65 and above that have not yet created wills. Failure to prepare can hurt yourself and your family, as well as organizations that are important to you.

At your death, a will serves as a road map telling your personal representative how to distribute your assets to other people or to a charitable organization.  Without a will, you are powerless over how your assets are distributed.  Instead, the laws of the state where your residence is, the state in which you spend most of your time, register to vote and hold your driver’s license, determine how assets are divided.

If your will were read today…would your intentions be clear and up to date?

Planning Your Will

Many people mistakenly believe that wills are only for the rich. Nothing is further from the truth. If you are married or single, if you have children and relatives, you need a will.  If you have charitable causes you want to help perpetuate, you need a will. If you own a home or have a bank account, stocks or any other kind of property, you need a will.

Having your will prepared by an attorney and executed according to state guidelines is essential. Several steps are necessary for a will to be legal.

• It should be in writing.
• It should be signed by the one creating the will.
• It should be acknowledged to be the will of the person who signs it.
• It should be dated.

People who are not beneficiaries of the will must witness the signature of the person who creates the will.  They, too, must sign it.

A will, of course, is revocable.  It does not become irrevocable until you die.  You may change it at any time. You may change it at any time. Review your will periodically to make sure it is current.

A Final Note

If you are considering a charitable gift, think of the advantages of designing it by will.  During your lifetime, a bequest is private, changeable at any time and does not deprive you of the use of assets or income.

Please click here for the official bequest language for The Maryland Bible Society.