When setting up an estate plan, one of the most important things you can do for your future is create a comprehensive will. Regardless of your financial situation, it’s essential to protect your assets. A will allows you to dictate how to dictate how your assets are distributed following your death. While many assume that a formal, typed will is necessary for their wishes to be legally binding, this is not always true. In limited circumstances, Maryland courts may recognize a holographic will. If you are considering establishing an estate plan, it’s in your best interest to contact a determined Montgomery County Will Drafting Attorney who can help you protect your hard-earned assets. Please continue reading to learn the potential risks of creating a holographic will.
What is a Holographic Will?
A holographic will is a handwritten document signed by the individual creating it, also known as the testator, without needing witnesses. Essentially, it’s an alternative to a will produced by a lawyer. Holographic will differ from traditional wills because they don’t have an attestation requirement. This means they don’t require notarization or witnesses to be valid. The minimal requirements for a holographic will to be enforceable in Maryland include proof that the testator wrote the will, evidence that the testator had the mental capacity to write the will, a personal representative appointed, and no attesting witnesses. It must contain the testator’s wishes to disburse their assets to beneficiaries.
Does Maryland Recognize This Type of Will?
While holographic wills may be helpful in emergencies, they can be difficult to validate in probate court. The requirements for a valid holographic will vary from state to state, and some states don’t recognize them. Holographic wills are only enforceable in limited circumstances. In Maryland, they are only recognized if you are a member of the Armed Forces. It’s important to note that this legal document will become null and void one year after being discharged from the armed services unless you have died or lost capacity.
Therefore, if a holographic will is not written correctly and fails to meet state laws, the courts may not recognize it as a valid last will. If this is the case, Maryland’s intestacy law will dictate how to distribute your estate. Regarding estate planning, you want to leave no room for error. That said, you should refrain from creating a holographic will due to the validity risks.
At JD Katz, we can help you draft a comprehensive, legally valid will that facilitates the administration of your estate, provides peace of mind, and makes your loved one’s life easier after your death. If you are considering creating a will, please don’t hesitate to schedule a consultation with our dedicated legal team.