The Importance of Wills & Estate Planning: Natasha Richardson Case Study
Given that Natasha Richardsonīs family had little time to prepare for her death, the emotional pain and loss of such a wonderful woman and close family member makes it difficult to even think about her estate or the legality of her will; as is the case for families across the nation who have endured the sudden passing away of a loved one. Although it is not public knowledge as to the specifics of Ms. Richardsonīs will or estate, as an experienced Maryland estate, trust, and real property litigation attorney, I have witnessed that too small a number of us actually arrange preparations for our children, same sex partner, or spouse should something catastrophic occur. In addition, too few of us have a will that accurately and legally states how we would like our assets to be distributed.
Ms. Richardsonīs story emphasizes that it is in everyoneīs best interest to have a will and an updated estate plan so that your family isnīt left to make difficult choices in an already emotional and stressful situation. If you are wondering if you or a family member should make a last will and testament in Maryland, then I recommend watching a short informative video that provides real-life examples I have seen that may benefit you, your family, and your overall situation.
In the state of Maryland, if you pass away without a will, the state will decide what to do with your property, which can be handled in one of the following ways:
If you are married and do not have children, everything goes to your spouse
If you are married and have children, 50% goes to your spouse and 50% goes to your children
If you do not have a spouse or children, your parents receive your assets if they are alive; and if your parents are deceased, then everything goes to any siblings you may have.
Far too often, family members face extensive and typically unpleasant legal battles due to complicated family histories and various wishes regarding property, improper handling of estate or trust funds, or disputes relating to distributions from estates and trusts. From time to time, estate litigation goes through appeals in Maryland due to many complexities that stem from estate lost heirs, will contest challenging revocable trusts, as well as litigation between family members and the living partner whose same sex partner passed away. In some cases, because the decedent did not update their will or did not create one, the family member receiving the decedentīs property and assets could be an irresponsible candidate, or the last person or group of people that the decedent would have wanted. For instance, a mother who has abandoned her children due to alcoholism could receive her deceased husbandīs estate. In turn, the children would not inherit their fatherīs assets even if that is what he would have wanted.
Donīt allow a loved oneīs valuable assets, hard-earned money and property be given to a derelict family member. If you are in need of creating or updating your will or estate plan to ensure that your wishes are fulfilled, or if you have lost a family member and are concerned about how assets are being taken care of, either by family members or the state, contact highly rated estate litigation attorney, George Meng, at Meng & Alpert LLC. I have 35 years of experience in estate litigation in Maryland handling complex trust, estate, and real property cases both at the trial and appellate level. I also take on litigation involving real property fraud, fiduciary duty relating to successor personal representatives, and many other cases. Call 301-627-1600 for a free consultation.