Creating a comprehensive estate plan is one of the most significant gifts you can leave your family. It provides clarity during a time of grief and ensures your life's work is protected. As your trusted Maine probate lawyer team, serving the Bangor area since 1991, we understand that planning for the future is an act of love. This guide details the essential steps to ensure your final wishes are respected and your legacy is secure.
How To Make A Will: Step-By-Step Guide
Inventory Your Assets and Liabilities
Before we begin drafting legal documents, you must have a crystal-clear picture of your financial landscape. Start by creating a detailed inventory of everything you own. This includes obvious assets like real estate, vehicles, and bank accounts, but also retirement accounts, life insurance policies, jewelry, and even digital assets. Equally important is listing your liabilities, such as mortgages and credit card debts.
Choose Your Beneficiaries and Executor
Deciding who receives your assets is the emotional core of your will, but the logistical side is just as critical. You must select a competent executor—often called a Personal Representative in Maine—to manage your estate's affairs. This person will be responsible for paying debts, filing taxes, and distributing assets according to your wishes. If you have minor children, this is also where you designate a guardian. We recommend choosing individuals who are organized, trustworthy, and capable of handling these sensitive duties under pressure.
Draft Your Last Will and Testament
A last will and testament is a precise legal document that requires specific statutory language to be effective. While "kitchen table" wills exist, they often lack the nuance required for Maine law and can lead to expensive family disputes later. As experienced attorneys, we help you draft clear, legally binding instructions that minimize ambiguity. During this phase, we can also discuss integrating a living will to cover your healthcare decisions, ensuring a holistic approach to your future planning.
Sign and Witness the Document
A will is only a piece of paper until it is properly executed. To be valid in Maine, your will must be signed in front of two credible witnesses who are not beneficiaries in the will. We strongly recommend having the document notarized to make it "self-proving." A self-proving will speeds up the probate process because the witnesses do not need to be tracked down later to testify in court regarding the signing.
Schedule a Private Consultation
At The Law Offices of Baldacci, Sullivan & Baldacci, we provide the personalized, compassionate guidance you need. Contact us today to schedule your consultation. We are here to ensure every legal requirement is met with the highest standard of care.