If you have assets how do you designate beneficiaries?

Well you have worked very hard for many years and finally the time has come to actually name your beneficiaries of your estate. The term estate actually refers to the fact that your assets that you have accumulated through the years of hard work belong to what we call your “estate”. It is this estate that is the central piece of oftentimes litigation and court battles whereby more than one person seems to think that they are entitled to the assets of this estate. The way to resolve these court battles and to prevent them from ever happening is to actually designate your beneficiaries in the actual legal document that we call a Will. A Will and Last testament is a legal document that is created by an Attorney that is used primarily to designate your beneficiaries or the individuals that are to receive your assets upon your death. This legal document known as a Will and Last Testament is so important in today’s society because otherwise your loved ones and beneficiaries would have to go to court in order to battle the issue out. Essentially what happens is that they have to go to probate court where these cases are often times heard and adjudicated by a probate judge. This judge is specifically designated to determine the intent of the testator (or the individual that passed away) to see exactly who did he intend to pass on his assets to. This intention would be so easily designated and determined if the individual simply utilizes a Will in order to firstly designate who is to receive your assets and in particular which of your assets that person is to receive. A lot of times you have more than one beneficiary and thus you would need to specify this in your Will. There are also plenty of times when actually you give joint ownership of an asset to two individuals. Unless you clearly outline this in your Will then you could be inviting a lot of litigation and controversy upon your death. The Will is actually created by a Maryland attorney who in turn will listen very carefully to exactly how you would like your estate divided up upon your passing. So lets say for example there is a situation where you want part of your estate to go to specific person and the other portion to another individual, by utilizing this legal document prepared by a Maryland attorney you can very easily avoid all of the litigation and legal costs that may occur if you do not have a Will. The process is very straightforward and simple if you retain a qualified Maryland Attorney to prepare it for you. If there is a Maryland will with clear language that lays out exactly who should receive the assets then the courts will really not need to look at the facts and circumstances of each case. On the other hand they can simple refer to the will which was prepared by a Maryland Attorney in order to determine exactly who should receive the assets. This will help to avoid a lot of costly litigation and legal costs that occurs when there is a dispute about the division of an individual’s estate. Otherwise the heirs of the estate who believe that they are entitled to the assets will have to hire their own probate attorneys in order to recover what they believe belongs to them. This of course carries a lot of litigation costs and attorney costs that could have easily been avoided by utilizing the services of a Maryland Attorney to create your Will.